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NERC's New Annual Assessment Shows Rapid Demand Growth Increasing Resource Adequacy Risks Across North America

LCG, January 30, 2026--The North American Electric Reliability Corporation (NERC) yesterday issued its 2025 Long-Term Reliability Assessment (LTRA) and infographic that spotlight intensifying resource adequacy risks throughout the North American bulk power system (BPS) over the next 10 years.

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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Industry News

Power Crisis Drives Service Provider from California Market

LCG, Dec. 21, 2000--New West Energy, the first energy service provider licensed to compete in California's deregulated electricity market, said yesterday it will get out of the retail electricity market in the state and turn its customers back to their local utilities.

"If you can't stand the heat, get out of the kitchen," President Harry S. Truman said.

New West said the move is in response to recent regulatory changes and the growing financial uncertainty of California's two largest utilities, Pacific Gas & Electric Co. and Southern California Edison Co., both of which have incurred billions of dollars in excess power purchase costs.

"The regulatory changes, current supply shortages, price volatility and the vulnerability of the utilities have had the effect of imposing unmanageable financial risks to energy service providers, including New West Energy," said managing director Robert S. Nichols, clearly feeling the heat.

Nichols said New West would become an "energy advisor." These days, everyone is an energy advisor.

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