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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

Don't Let PG&E, SoCal Ed Earnings Fool You

LCG, Oct. 12, 2000Pacific Gas & Electric Co. and Southern California Edison Co. are expected this month to report significant earnings growth for the third quarter over the same period last year, but the improvement is illusory, most observers agree.

The holding companies for the two utilities should show a sharp increase in earnings. PG&E Corp. is expected to post $0.61 per share, up from $0.50 in the third quarter of 1999, and Edison International Inc. was expected to show a gain fro, $0.74 last year to $0.81.

Those figures do not take into account the amount of money the two operating utilities have been paying for power to serve their electricity customers. The cost of that power has not been passed along to consumers because of a rate freeze imposed by the California electric industry restructuring law. The companies have been carrying the uncollected charges on their books but have not yet charged them against earnings because they still dream of getting paid.

PG&E Corp. said last month its undercollected balance had reached $2.2 billion, while Edison International said it was $1.97 billion in the hole as of August 31. Neither figure includes the month of September. It was hot in California during September, and September is part of the third quarter.

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