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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 Bankruptcy Judge Considers Clashing Reorganization Plans

LCG, Jan. 17, 2002--At a hearing yesterday, U.S. Bankruptcy Judge Dennis Montali said that the California Public Utilities Commission would need to "tell me and show me that it really has some viable alternative," to PG&E's proposed reorganization plan.

Montali told those present at the hearing that PG&E's intent to transfer its assets outside the purview of the CPUC was "enormously risky". The CPUC, Montali said, would need to explain the details of how PG&E would pay its creditors.

The agency contends that by using about $5 billion that it now has at its disposal, PG&E would be able to start reimbursing creditors. Excess revenues earned in the future could also be utilized, it found. Alan Kornberg, a PUC lawyer, told the judge that its proposal specified a more reliable source of funding than refunds from power generators, as proposed by PG&E.

Montali is scheduled during a hearing on Jan. 25 to consider arguments on whether PG&E may override state and local laws as part of a reorganization plan. If PG&E were allowed to override the laws, legal disputes could result, according to the PUC.

Saying that his decision would likely come some days following the hearing on the 25th, Montali said the PUC plan "maybe has less uncertainty." He also stated that he was hopeful that more progress might be made between the PUC and PG&E through mediation.

At issue as well is the speed of approval of a reorganization plan. The official creditors' committee has expressed conditional support for the PG&E plan.

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