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X-energy and Dow Submit Application to the NRC to Construct an Advanced Nuclear Project in Texas

LCG, March 31, 2025--Dow and X-Energy Reactor Company, LLC ("X-energy") today announced the submission of a construction permit application to the U.S. Nuclear Regulatory Commission ("NRC") for a proposed advanced nuclear project in Seadrift, Texas. The proposed advanced small modular reactor ("SMR") project could begin construction later this decade and commence operations early next decade.

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Avangrid's 238-MW True North Solar Project Achieves Commercial Operation

LCG, March 27, 2025--Avangrid, Inc., a member of the Iberdrola Group, today announced that its True North Solar project, located in Falls County, Texas, has achieved commercial operation. The True North Solar project will deliver electricity into ERCOT and support Meta's operations, including Meta's upcoming data center in neighboring Temple, its second data center in Texas.

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Industry News

PG&E Customers' Rates to Drop

LCG, Feb. 27, 2004--The California Public Utilities Commission voted yesterday to allow rate decreases for the first time since the state's energy crisis prompted steep rate hikes.

The amounts of the decreases for different customer classes were effectively determined with formulae before the vote, during talks concerning PG&E's bankruptcy reorganization plan. The effects will be felt by most customers by April, based on their electricity usage in March. The reduction for the typical residential customer will be 4 percent, while larger businesses could see 15 percent reductions. Rates charged to industrial customers were previously raised more than rates for residential users after price spikes in the wholesale market caused the state to begin buying power on behalf of the state's major utilities.

Commission president Michael Peevey, as well as Commissioners Susan Kennedy and Geoffrey Brown, voted for the reduction, while Carl Wood and Loretta Lynch opposed the decision. Wood and Lynch said that had the vote been postponed, it could have resulted in greater savings for PG&E customers, and possibly larger rate reductions for residential customers.

Part of the reductions being approved are possible because rates collected by PG&E last year exceeded the utility's immediate revenue requirements to provide service. Part of the excess was used to pay down debt when bankruptcy talks resulted in agreement on using the rates for that purpose.

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