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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

Utilities Act to Face Scrutiny in US Senate

LCG, July 30, 2003The 1935 Public Utility Holding Company Act, which limits investment of utility profits, will face possible repeal this week as part of a larger energy bill.

The PUHCA bill prevents companies that own utilities from using regulated utility profits to fund other, unregulated businesses. The bill was passed by Congress to fend off pyramid-type business practices common during the 1920s and 30s. At that time, huge utility holding companies manipulated electric rates and were not liable for the debts of their utilities. Some scholars believe this practice had a significant hand in the stock market plunge before the Great Depression.

Many industry experts see PUHCA as an outdated bill, essentially limiting utilities and preventing foreign and non-utility companies from entering the market. Others see the bill as essential for preventing utility holding companies from moving outside of regulators control.

Large utilities are clearly very interested in the repeal, and the Bush administration finds PUHCA a relic of the past. Several organizations, including the Union of Concerned Scientists, strongly oppose the repeal.

While the House already chose to repeal the act in April, the Senate will consider the bill sometime in the next few days. Republican Senators have insisted that an energy bill will be passed by the end of the week, even if discussion must go into the weekend.

The energy bill in question also includes, among other matters, natural gas drilling, energy market issues, ethanol use, and SUV fuel efficiency.

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