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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

FERC Requests Information on Megawatt Laundering

LCG, Feb. 19, 2002--The California Independent System Operator has been asked by staff of the Federal Energy Regulatory Commission for details relating to past trading and energy generation by companies that exhibit similarities with strategies used by bankrupt Enron Corp.

The ISO produced a report in October which concluded that 20 energy trading companies may have profited by selling output in California through out-of-state trading partners, to avoid price caps within the state. Known as "megawatt laundering," the behavior may have led to millions of dollars in higher costs to the state. Although the report covered the period 1998-2002, FERC will only consider refunds for trading between Oct. 2, 2000 and June 20, 2001.

FERC will consider additional evidence through the end of the month as it decides on whether to grant up to $8.9 billion in refunds. The evidence of megawatt laundering could take the form of schedules submitted to the ISO, which would indicate when and where power would be generated. Enron's actual power generation and transmission of power were sometimes inconsistent with actual usage of the transmission system, allowing it to be paid for relieving congestion where none actually existed.
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