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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

California Governor Wants Utilities to Bail Out Customers

LCG, Dec. 20, 2000--As closed-door negotiations between California Gov. Gray Davis, state legislative leaders and top officials of the state's investor-owned utilities wore into the evening yesterday, Steve Maviglio, the governor's press secretary, said Davis was trying to see how much of a loss the utilities could absorb in a bailout of California electricity users.

All voters are electricity users, so you know whose side the governor was on. But earlier this week, Pacific Gas & Electric Co. said it had paid $4.6 billion for electricity it had delivered to customers and had not been paid for. The utility wants to get its money. Southern California Edison Co. said its customers owed it $3.5 billion and it, too, would like to be paid.

To the degree the companies have to eat that $8.1 billion, it will be a minor, major or complete bailout for California consumers. Consumer activists are hoping for complete, but the governor seems ready to accept major. It's possible there could be no bailout at all.

Last Friday, commissioner William Massey of the Federal Energy Regulatory Commission noted the companies' plight and said "Some day soon a federal court, when asked, will declare that utilities are entitled to recover these high wholesale costs from their customers."

At a press conference before yesterday's meeting, Davis said "I have made it very clear to all parties: They're not recovering all their costs. They're only recovering a portion of their costs because everybody pushed for deregulation, the manufacturers and utilities, and it hasn't worked. The consumers, while having to bear some of the burden, are not going to bear all of the burden."

Davis holds electric customers blameless in the state's power fiasco, even though they continue to consume increasing amounts of electricity to operate their air-conditioners, electronic games and television sets while at the same time they oppose building new power plants anywhere in the state.

"The customers, of course, have done nothing wrong," Davis said. "There's no party of interest more important to me than the consumers of this state. They were promised a rate reduction under deregulation. This is an experiment that has gone very bad."

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