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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

State High Court Clears PSE&G Securitization Bonds

LCG, Dec. 7, 2000--The New Jersey Supreme Court said yesterday it has affirmed an appellate court decision upholding the New Jersey Board of Public Utilities restructuring and securitization orders for Public Service Electric & Gas Co.

The action allows PSE&G to move ahead with its sale of $2.5 billion in stranded cost bonds.

James Ferland, chairman and chief executive of parent holding company PSEG Service Enterprise Group, said "Putting the uncertainty of the judicial appeals behind us will allow us to take the necessary steps to increase our competitiveness in the US energy markets."

The company said the ruling by the high court will also enable it to put into effect an additional 2 percent rate reduction for all PSE&G electric customers, based on the savings achieved through the securitization process. This is in addition to the 5% reduction that became effective August 1, 1999.

The court action also allows the parent company to sell debt securities to finance its unregulated power generation and trading company, PSEG Power LLC.

Al Koeppe, president and chief operating officer of PSE&G, said "As a result of this decision and the restructuring that will take place at PSEG, PSE&G will now focus on what we have done well for more than 100 years, delivering gas and electricity reliably and safely to our New Jersey customers."

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