About Us
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The California Community Choice Financing Authority (CCCFA) was established in 2021 with the goal to reduce the cost of power purchases for member community choice aggregators (CCAs) through pre-payment structures. The founding members of CCCFA include Central Coast Community Energy, East Bay Community Energy, Marin Clean Energy, and Silicon Valley Clean Energy. CCCFA is a Joint Powers Authority which can help member CCAs save up to 10% or more on power purchase agreements, helping reduce costs for ratepayers and increase available funding for local programs.
Meeting agendas and materials can be found here. Board Meetings are held the fourth Thursday of every month at 1pm. The meetings for November and December are combined and held on the first Thursday in December. |
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What we do
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Prepayment Transactions Prepayment transactions have been used in the United States for the last 30 years with over 100 transactions completed worth over $50 billion. Most of these have been to prepay for a supply of natural gas. As CCAs continue to accelerate the development of new renewable energy supplies and drive local greenhouse gas (GHG) reductions, the not-for-profit agencies are also rewriting norms of innovative financings in the energy markets. Prepayment transactions are codified in the US Tax law, and Congress enacted legislation specifically allowing for such transactions as part of the National Energy Policy Act of 2005. CCCFA will take advantage of this structure to increase the amount, and reduce the cost, of clean energy on the California grid, combating climate change and fulfilling customers' needs for non-polluting resources. |
Agreements Executed by CCCFA Energy prepayment transaction agreements undertaken by CCCFA must be approved by the Board of Directors of the member CCA proposing the prepayment. Then the CCCFA Board will have the opportunity to fully consider the benefits, obligations, and risks of each prepayment transaction prior to approving any bond issuance. CCCFA is governed by a Board of Directors consisting of one director representing each founding CCA. For more information about CCCFA’s Board of Directors, please visit the Board Meetings page. |
CCAs Working Together CCCFA is the second Joint Powers Authority formed by a group of California CCAs. California Community Power was launched in early 2021 as another pathway to help member CCAs reduce costs. CC Power allows its member CCAs to combine their buying power to procure new, cost-effective clean energy and reliability resources to continue advancing local and state climate goals. CC Power members represent over 3 million customers across more than 145 municipalities spanning from Humboldt County to Santa Barbara County. Current members include Central Coast Community Energy, CleanPowerSF, East Bay Community Energy, MCE, Peninsula Clean Energy, Redwood Coast Energy Authority, San Jose Clean Energy, Silicon Valley Clean Energy, Sonoma Clean Power, and Valley Clean Energy. Learn more about CC Power at cacommunitypower.org. |
