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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

PG&E Utility Confirmation Hearing Postponed

LCG, August 7, 2002-The confirmation hearing regarding Pacific Gas & Electric Company's bankruptcy case was postponed after both the California Public Utilities Commission and the utility's parent PG&E Corporation requested a delay.

Last year the California utility declared bankruptcy. In order to repay over $13 billion in debts and restore the utility's credit rating, two reorganization plans were created. The Public Utilities Commission submitted a plan calling for the utility to remain within state control and pay its debt by way of bonds, stocks, and already available money. PG&E's plan involved splitting up the utility's assets into four parts and transferring three of the parts out of the state's control as unregulated companies.

Federal Bankruptcy Judge Dennis Montali ruled that creditors to the utility could submit votes as to which plan was favorable. These votes would be taken into consideration when the Judge made his decision.

The votes are due August 12, but the confirmation hearing has now been delayed until November 12.

Additionally, the Internal Revenue Service has determined that the utility's plan is a Section 368 tax-free reorganization.

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