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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

PG&E Asks to Speed Payment of Small Debts

LCG, Dec. 13, 2001--Pacific Gas & Electric Co. said yesterday it would like to speed up payment of claims against it for less than $100,000 by separating them from the review and approval process of the official creditors' committee.

Because those claims represent about 80 percent of the 12,000 total before the creditors' committee, the company believes that treating them separately would make resolution of the claims process more efficient.

"Since the company expects that settlement can be reached on most claims, the procedures proposed will facilitate the efficient resolution of the vast majority of claims in this case," PG&E said. The company estimates that the small claims total about $120 million.

A grand total of about $44 billion in claims have been filed against the utility, which figures it owes "only" about $13 billion, according to spokesman Ron Low.

The whopping $44 million figure may be due in large part to redundancy, PG&E said. The company estimated that at least $1 billion are exact duplicates, $4 billion are multiparty claims asked for in full by all parties and $3 billion in redundant claims from bondholders.

PG&E has asked the bankruptcy court to rule on its proposal to settle the small debts and to lump together those that it says are duplicative, unsubstantiated, or have already been settled.

U.S. Bankruptcy Judge Dennis Montali has scheduled both motions for hearing on December 27.

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