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Energy Vault and Jupiter Power Announce New Agreement for Battery Energy Storage System in Texas

LCG, June 4, 2025--Energy Vault Holdings Inc. (Energy Vault) and Jupiter Power (Jupiter) today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. The initial BESS project, located near Fort Stockton, Texas, was completed in July 2024, with a storage capacity 100 MW/200 MWh. The new BESS project will add another 100 MW/200 MWh of capacity. Construction has commenced, and the project is expected to achieve commercial operations by the end of this summer.

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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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Industry News

Puget to Keep its Low-cost Generation Assets

LCG, July 31, 2000--Puget Sound Energy will keep its 735 megawatt interest in the four Colstrip power plants in Montana rather than risk buying power in the volatile wholesale spot market, which it might have to do if it sold them as planned to a unit of PPL Inc.

Puget currently pays about $30 per megawatt-hour for Colstrips power, which supplies about a third of the electricity the utility needs to serve its base load. Prices on the two Northwest spot markets ranged from $110 to $330 per megawatt-hour on Friday.

The utility had agreed to sell its 50 percent interest in Colstrip Units 1 and 2 and its 25 percent interest in Units 3 and 4 to PPL Global Inc. for $555.9 million, but had been unable to reach agreement on a price for a long-term contract to continue receiving power from the plants.

Puget spokeswoman Dorothy Bracken said "As the wholesale markets for electricity began to rise, it became more difficult for PPL to offer power that would be economical for our customers."

News had reached the Pacific Northwest from San Diego, where the local utility had sold its power plants without making adequate provision for replacement power. Forced to go into the spot market to serve its customers, San Diego Gas & Electric Co. paid top dollar for power and passed the cost along to householders who saw their bills double as a result.

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