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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

Centrica Pays $252 Million for TXU Plants in UK

LCG, Aug. 27, 2001--Centrica Plc, the largest British combined gas and electricity supplier, doubled its electric power capacity Friday when it agreed with TXU Corp. of the U.S. to acquire two power plants on a lease purchase arrangement.

Centrica said it purchased for $252 million two 20-year leases to operate gas-fired power plants in Peterborough and King's Lynn in East Anglia, a region of eastern England. At the end of the leases, Centrica will have the option of acquiring the two plants.

Roy Gardner, Centrica's chief executive, said the deal would boost his company's owned generating capacity from 755 megawatts to 1,460 megawatts, still less than a third of the peak demand from its 4.5 million retail customers.

"Today's transaction reinforces our commitment to grow our electricity business and to continue offering customers a competitive package," he said Friday. Three months ago, Centrica bought a 60 percent interest in Humber Power, a modern natural gas-fueled plant.

Centrica was created with the partial "de-merger" of the British Gas monopoly in 1995.

TXU, for its part, said it is selling generating assets to clean up its balance sheet. The American company is the UK's third-largest combined gas and electricity supplier and says it has plenty of generation, even after selling its 1,000 megawatt Rugby coal-burner to International Power in June.

"This is a significant step towards achieving our optimum generation position in the UK market," said Martin Stanley, president of TXU Europe energy trading, adding that the company would like to sell another 2,000 megawatts of capacity.

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