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NRC Accepts the Construction Permit Application for TVA's Small Modular Reactor Project

LCG, July 10, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted a construction permit application for review from the Tennessee Valley Authority (TVA) to build one of the nation’s first small modular reactors (SMR). TVA submitted its application in late May to use GE Vernova Hitachi’s BWRX-300 design and to install the advanced nuclear plant at its Clinch River site near Oak Ridge, Tennessee. TVA's application is the first in the U.S. that uses GE Vernova Hitachi’s BWRX-300 design.

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Red Oak Power Facility in PJM to be Acquired by Strategic Value Partners

LCG, July 9, 2025--Strategic Value Partners, LLC (together with its affiliates, SVP) yesterday announced that its managed funds (the "SVP Funds") have agreed to acquire Red Oak Power, an 831-MW natural gas-fired combined-cycle power generation facility located in Sayreville, New Jersey.

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Industry News

Davis Wants to Know Who's Paying for Ads

LCG, July 23, 2001California Gov. Gray Davis, his skin worn thin by a month of television ads criticizing his handling of the state's electricity crisis, went to court Friday to learn the names of his tormentors.

The commercials, which began airing on June 18, end with the tag line "Grayouts from Gray Davis," which the governor and his legal advisers figure makes them political advertising and not educational. When Davis called the state's independent power producers "the biggest snakes on the planet earth," that was educational.

Under state law, groups that run issue-oriented ads don't have to divulge the names of individual contributors because those ads are considered educational. Advertising that supports or attacks candidates is considered political and the names of those sponsoring the ads are required to be registered with the California secretary of state.

Davis' legal team thinks the ads are an attack on the governor and the sponsors should be named. In a suit filed in San Francisco Superior Court, the governor's political committee alleges that the American Taxpayers Alliance failed to register and is in violation of the state's Political Reform Act.

Garry South, Davis' political adviser, said the views expressed in the ads may be protected by the first amendment to the U.S. Constitution, "But you have the responsibility under California law to reveal who is paying for commercials if they fall under the political realm, and these clearly do."

The American Taxpayers Alliance is a Washington, D.C.-based organization run by Scott Reed, a Republican strategist. He has declined to disclose the group's contributors. Davis suspects the contributors include the biggest snakes on the planet earth.

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