Standard & Poor’s projects that California public power utilities will continue to maintain stability in their credit ratings, despite the challenges facing them. The rating agency released a report, “California Public Power Utilities Wrestle With Competing Energy Demands And Global Warming Strategies,” on Monday.For more than a decade, the report said, the California electric industry has experienced a series of challenges, such as its failed attempt at deregulation, extreme power market price volatility, drought, and, most recently, wildfires.As a whole, the state’s public power industry has met those challenges with good financial performance, management planning, and strong and stable customer bases, the report said.Today, the utilities must face growing load demand, reliance on natural gas, and the state’s position as a leader in addressing global warming.“Rating upgrades may be limited due to cost pressures associated with drought, natural gas supply, and demands on the utilities to address renewable energy targets and other environmental regulations unique to the state,” the report said.
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The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion
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High-yield muni issuance totals $20 billion year-to-date, "reflecting normalization from relatively depressed levels in 2023 ($7.6 billion over the comparable period), and now virtually equal to the trailing five-year average for the period ($20.1 billion)," said J.P. Morgan strategists, led by Peter DeGroot.
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Mayor Eric Adams was indicted on federal bribery, campaign finance and conspiracy charges, the U.S. Attorney's Office announced Thursday.
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The privately placed taxable bonds to be issued through Bernalillo County will help finance a manufacturing facility for Ebon Solar.
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"The market is strong right now, and we expect that to continue into next year," Loop's head of public finance Bo Daniels said.
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The continuing resolution to keep the government funded was passed without the inclusion of controversial legislation requiring proof of citizenship in order to vote.
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