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NeuVentus Receives Storage Permits for its Texas Reliability Underground (TRU) Hub Salt Cavern Storage Project

LCG, April 4, 2025--NeuVentus, LLC ("NeuVentus") announced this week the receipt of a final order from the Railroad Commission of Texas (RRC) that grants a subsidiary of NeuVentus authority to create and operate 12 salt caverns for storage of a variety of gases (including natural gas and hydrogen) and liquids at its Texas Reliability Underground Hub ("TRU Hub") salt cavern storage project located in Liberty County, Texas.

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X-energy and Dow Submit Application to the NRC to Construct an Advanced Nuclear Project in Texas

LCG, March 31, 2025--Dow and X-Energy Reactor Company, LLC ("X-energy") today announced the submission of a construction permit application to the U.S. Nuclear Regulatory Commission ("NRC") for a proposed advanced nuclear project in Seadrift, Texas. The proposed advanced small modular reactor ("SMR") project could begin construction later this decade and commence operations early next decade.

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Industry News

Conectiv Shareholders Okay Pepco Merger

LCG, July 18, 2001Shareholders of Conectiv Inc. yesterday approved the pending $5.4 billion merger of their company with Potomac Electric Power Co., a transaction the companies expect to close early next year.

While billed a merger of equals, under the proposal, Pepco would pay $2.2 billion in cash and stock for Conectiv and assume $3.2 billion of Conectiv's debt. Pepco Chairman John Derrick will remain as chairman of the yet to be named newly created company, while Conectiv Chairman Howard Cosgrove will retire with a $6.4 million severance package.

Yesterday, about 95 percent of the shareholders, who own about 68 percent of Conectiv's common stock, agreed on a price of $25 a share. Pepco's shareholders were scheduled to vote today on the deal, which also requires regulatory approval from several state and federal agencies.

The companies said the deal will not result in significant layoffs and all union contracts would be honored.

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