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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

Pat Wood Named to Head FERC

LCG, Aug. 15, 2001--Former Texas utility regulator Patrick Wood III was named yesterday to succeed Curt Hebert as chairman of the Federal Energy Regulatory Commission.

Wood, who is seen as favoring FERC intervention in wholesale power pricing, will take over from Hebert on September 1. The new chairman is a Republican, and was appointed to the commission earlier this year.

One of Wood's first jobs as chairman will be to lead FERC through negotiations between the state of California and a handful of independent power producers that the state says overcharged it $8.9 billion for electricity.

A FERC administrative law judge has said the amount due is $1 billion at most and that California is unlikely to see any cash refunds because the power producers have not been paid for much of the electricity purchased at any price.

Wood's elevation is certain to be welcomed in California, where Gov. Gray Davis and some of his Democrat appointees to the California Public Utilities Commission have said they feel he is sympathetic to problems facing the state's energy sector.

But Wood is also a confidant of President George W. Bush, who has been outspoken in favoring market forces. The new chairman is unlikely to push initiatives that run counter to those of the administration.

Hebert's departure from the commission will leave a vacancy on the five-member panel. Among those being considered for the open seat are Joseph Kelliher of the Department of Energy and McLane Layton, an energy expert on the staff of Republican Sen. Don Nickles of Oklahoma, who is a member of the Senate Energy and Natural Resources Committee.

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