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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

Cal-ISO Bills Water Agency $1 Billion for Power

LCG, Nov. 27, 2001--The California Independent System Operator, which purchases power on the volatile spot market to protect the state's transmission system, has sent a bill for $1 billion to the California Department of Water Resources, which purchases power on behalf of the state's investor-owned utilities, which don't have the money to pay for it.

The CDWR didn't actually purchase power from Cal-ISO, but the rationale seems to be that the water agency would have had to buy the power if Cal-ISO hadn't, so it should pay the ISO even if the money is really owed to the companies that produced the power.

The Federal Energy Regulatory Commission last week, in response to filings by independent power producers, ordered Cal-ISO to pay its overdue power bills. The ISO had said it didn't really owe the money because it was simply a scheduling coordinator and not a creditworthy power purchaser.

FERC said simply that the power producers had to be paid for the power requisitioned and scheduled by the ISO.

Cal-ISO said in a filing of its own last week that it would get the money from the CDWR and pay all its past due bills by next February 7, but the payments would have to come in installments, if FERC approves.

Cal-ISO also said payment depended on the CDWR responding to its invoices.

Gary Ackerman, executive director of the Western Power Trading Forum, a trade association representing the power producers, said "We are anxiously waiting for an answer from CDWR."

He added, "We are neither optimistic nor pessimistic -- just iffy."

There is a lot to be "iffy" about -- or very little on which one can hang his hat. The CDWR is arguing with FERC over matters of jurisdiction. The ISO says CDWR is just an agent for the cash-strapped utilities and the utilities are the ones who schedule the power anyway. Except the ISO also says it has to schedule power to protect the transmission grid.

We can't figure it out. But we do know that Cal-ISO has asked the CDWR to pay it for $1 billion worth of power it didn't sell to the CDWR.

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