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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

Water Authority Agrees on Buyout Offer for Nevada Power

LCG, July 19, 2002--A meeting of the Southern Nevada Water Authority board resulted yesterday in a unanimous vote to tender an offer for Nevada Power Co., under the holding company Sierra Pacific Resources.

The water authority is affiliated with the Las Vegas Valley Water District, and provides municipal governments with water. It has been in discussions with Morgan Stanley, the investment bank, concerning underwriting of a buyout. The organization's general manager, Pat Mulroy, drew attention to Long Island, N.Y., which undertook a buyout of an investor-owned utility, resulting in the Long Island Power Authority.

According to Mulroy, the risk to ratepayers if Nevada Power is not bought out is in the form of higher rates, as the power company tries to improve its credit rating and overcome a poor cash situation. She said that with a buyout, rates would not have to rise.

The mayor of Las Vegas, Oscar Goodman, raised the issue of a loss of property taxes and franchise fees, now at about $26 million. Lyle Miller, managing director of Morgan Stanley, responded that under such situations, a utility often makes payments in lieu of taxes. A North Las Vegas City Council member, Shari Buck, described herself as a "cautious supporter" of the possibility being raised, and said her interactions with Nevada Power have been "very very positive."
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