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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

New Jersey Utilities Apply for Rate Increases

LCG, September 17, 2002--Utilities in New Jersey which have been required to keep charges to customers under rate caps, want to recover costs they have incurred in supplying power.

The state's Board of Public Utilities has required audits of $1 billion in expenses at four utilities, including Conectiv, Jersey Central Power & Light, Public Service Electric and Gas, and Orange and Rockland Utilities. The audits are being conducted by Mitchell & Titus LLP, and Larkin & Associates.

New Jersey's electricity market has been in a transitional mode, which is scheduled to end Aug. 1, 2003. Since retail rate caps were in effect while the utilities had to pay higher prices for gas last year, utilities were allowed to securitize unreimbursed expenses two weeks ago under a new law. In effect, bonds can be issued which will effectively speed the recovery of costs.

Retail caps in the state were not simply set based on the historical rates, but were mandated to be lower. The current audits may lead to retail rates returning to their historical levels, if not going higher.
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