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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

FERC Raises Western Price Cap

LCG, July 12, 2002--Yesterday the Federal Energy Regulatory Commission raised the maximum price for wholesale electricity by 65 percent.

Citing the risk of supply disruptions, FERC has increased the price cap in the West from $55.26 per megawatt hour to $91.87.

FERC is concerned that the $55.26 price cap will leave power generators unable to sell electricity at a price that complies with the production cost. FERC contends that the increased cap is in the consumers' interest and will result in reduced risk of summer blackouts.

The California Independent System Operator limited the price cap on Tuesday to $55.26 using complex analysis related to peak prices during shortages. On Wednesday, a stage 2 emergency was called in California, as unusually hot weather reduced energy reserves to less than 5 percent. FERC increased the cap yesterday to return it to the $91.87 level amid fears that the low cap would discourage companies from selling electricity to California.

In any case, the specific amount allotted price caps has limited significance, since FERC insists that the Western price cap will expire September 30.

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