News
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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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
RGS Shareholders Okay Takeover by Energy East
LCG, June 18, 2001--Shareholders of RGS Energy Group, the parent company for Rochester Gas & Electric Co., on Friday approved the company's acquisition by Energy East, the former new York State Electric & Gas Co., creating one of the largest diversified energy providers in the U.S. Northeast.Under terms of the acquisition, shareholders of RGS will get $39.50 for each share, payable in cash or in Energy East stock as long as Energy East's common stock prices fall within the range of $16.57 and $22.41."RGS Energy's operations in nine counties centering around Rochester will provide a solid base forgrowth," Wes von Schack, Energy East's chief executive told the company's annual meeting.Von Schack said RG&E's generation portfolio will help Energy East manage some of the business risks that are naturally inherent in a transmission and distribution business. "RG&E's powergeneration facilities substantially satisfy its customers' needs, and will help support some of NYSE&G's supply requirements and improve our ability to continue to deliver electricity at stable prices," he said.The electricity shortages and price shocks that are impacting several parts of the country, mostnotably California, are also being experienced in New York. "Fortunately, NYSE&G customers havebeen spared these price shocks because their electricity supply and delivery prices have been frozensince 1995," von Schack said.If approved by state and federal regulators, the acquisition is expected to close next year, Energy East said. The combined company will serve 3 million customers, including about 1.8 million electricity customers, 1 million natural gas customers and about 200,000 other retail energy customers.
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