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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

PG&E: Bankruptcy Isn't Cheap

LCG, Aug. 6, 2001--Pacific Gas & Electric Co., which filed for Chapter 11 bankruptcy protection on April 6, and its parent holding company, PG&E Corp., had by the end of June spent $9 million on lawyers and other expenses connected with the bankruptcy, the Los Angeles Times reported Friday.

That is only one one-thousandth of the $9 billion in debt PG&E ran up paying high prices for wholesale electricity that the utility was required to resell to its customers at low retail rates mandated by California's failed electric deregulation scheme.

But bankruptcy experts have estimated that the total bill for armies of lawyers, accountants, investment bankers and others advising the utility, its parent company and the utility's creditors during the course of the bankruptcy proceeding could approach a half-billion dollars.

The Times noted that for the six months ended June 30, PG&E Corp. and its utility spent $25 million after taxes on professional fees and expenses related to the bankruptcy. The $16 million spent in the first quarter reflects the enormous task of preparing for the third-largest bankruptcy filing in U.S. history, the paper said.

PG&E must file a plan of reorganization showing how it will pay off its debts by December 6. PG&E Corp. and its unregulated subsidiaries are not included in the bankruptcy case.

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