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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

Cal-ISO Appoints Itself Power Plant Watchdog

LCG, Nov. 30, 2001--The California independent System operator, which has had trouble explaining its role to the Federal Energy Regulatory Commission, has decided to appoint itself watchdog for power plant maintenance and availability in California.

Cal-ISO's board of governors decided yesterday that the agency should set up strict maintenance standards and an enforcement program to make sure owners keep their power plants in good shape and able to deliver electricity whenever the ISO says to do so.

Cal-ISO will have to ask FERC's approval to begin the program next spring.

Power producers and possibly FERC could find objectionable a part of the Cal-ISO plan that would permit it to conduct "surprise" inspections of power plants to make sure maintenance routines are being followed. The cops can't inspect your home without a warrant.

The maintenance standard would be based on records kept by the state's three investor-owned utilities when they owned the plants.

"If you bought a used car, you'd sure like to get the maintenance records and the owner's manual with it," said Phil Pettingill, manager of transmission facilities for the ISO. The analogy won't wash.

If we bought a used car, we'd like the maintenance records and the owner's manual, but we wouldn't share them with a state bureaucrat who wanted to tell us when to drive the car.

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