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Holtec Signs Strategic Cooperation Agreement with Utah and Hi Tech Solutions to Deploy Nuclear SMRs

LCG, May 1, 2025--Holtec International (Holtec) announced the signing on April 29 of a strategic cooperation agreement with the State of Utah and Hi Tech Solutions, a leading nuclear services provider based in Kennewick, Washington, to collaborate in the deployment of Holtec's SMR-300s (small modular reactor) in Utah and the broader Mountain West region. Hi Tech will play a leading role in the project development and workforce training to support the rise of new nuclear power generation in the region.

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EPA and Texas Railroad Commission Sign Memorandum of Agreement for Permitting Geologic Storage of Carbon Dioxide

LCG, April 29, 2025--Officials from the U.S. Environmental Protection Agency (EPA) and Texas Railroad Commission (RRC) signed a memorandum of agreement (MOA) today outlining the state’s plans to administer programs related to carbon storage wells, known as Class VI wells. The MOA signing is a required step in the RRC’s application to be granted authority to permit Class VI wells in the state of Texas. EPA is currently preparing a proposed approval of RRC’s primacy application.

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Industry News

CA Commission Submits its PG&E Bankruptcy Plan

LCG, April 16, 2002-The California Public Utilities Commission filed its plan for PG&E's emergence from bankruptcy.

The Commission and Pacific Gas & Electric Utility both have ideas about how to erase the $13.5 billion debt that the utility shoulders. According to the U.S. Bankruptcy Court in San Francisco, the utility's creditors will get to vote on which proposal should be implemented.

The plan submitted by the Commission calls for payment of creditors, including interest, as well as the re-establishment of an investment-grade credit rating by 2003. The plan includes withholding dividends from shareholders until the end of January next year. The utility would also be required to sell some of its common stock to resolve some thirteen percent of its debt.

The unpaid dividends may result in "substantial litigation," according to PG&E, and the utility fears that the sale of stock and the suspension of dividends will be detrimental to employees and retirees who own a lot of stock in the utility.

Additionally, the Commission's plan provides for no increase in electricity rates, and PG&E must continue to abide by state regulations. PG&E Corporation, PG&E utility's parent company, will also be partially responsible, monetarily speaking, for getting PG&E utility out of debt.

PG&E's rival plan, submitted earlier, suggests breaking the utility into four companies, three of which would fall outside of state regulation and therefore out of the influence of the Public Utilities Commission.

May 3rd is the deadline for all objections regarding the Commission's plan, and Bankruptcy Judge Dennis Montali has suggested the 17th of June for the commencement of voting by creditors.

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