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FERC Releases the 2025 Summer Assessment for Energy Markets and Electric Reliability

LCG, May 15, 2025--The Federal Energy Regulatory Commission (FERC) announced today the release of the staff’s 2025 Summer Assessment on the outlook for energy markets and electric reliability during the June to September time frame.

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NRC Accepts Construction Permit Application for Dow's Advanced X-energy SMR Project in Texas

LCG, May 14, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted Dow's construction permit application to build X-energy Reactor Company, LLC's ("X-energy") first small modular reactor (SMR) plant to power a chemical facility in Seadrift, Texas. Dow's wholly-owned subsidiary, Long Mott Energy LLC, is developing the project to provide Dow's UCC1 Seadrift Operations manufacturing site with safe, reliable, and clean power and industrial steam to replace existing energy and steam assets that are approaching end-of-life. The project is part of a demonstration project supported by the U.S. Department of Energy (DOE) and, if approved, would be the first advanced nuclear facility at an industrial site in the United States.

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Industry News

New Jersey Regulators Plan Electricity Auctions

LCG, Nov. 8, 2002--The New Jersey Board of Public Utilities has announced its plan for auctions for power purchases by the state's major energy suppliers, scheduled for February.

Each supply auction will be for a different class of customer, with hourly prices to be paid by large users, commercial and industrial, and a fixed price to be charged to residential and small-business customers. The latter group accounts for 80 percent of energy consumption in the state. Auctions covering 10 and 34 months are being held for the small customers, with the 10-month auction providing for two-thirds of need and the 34-month auction for one third, each period beginning Aug. 1, 2003.

The prices to be paid by residents and small businesses will be based on a combination of the 10- and 34-month auction prices. The Board of Public Utilities believes that while consumer rates will no longer be capped, the process will prevent wholesale price spikes from affecting them. Jeanne Fox, president of the BPU, told The Star-Ledger of Newark, "There was a feeling you needed some long-term contracts as a hedge." A similar auction last year allowed four major utilities to make purchases covering the period through July, 2003.

Overall, rates are likely to rise, as the BPU begins to allow charges for deferred balances, or costs incurred by the utilities but not allowed under the rate cap, such as those for expensive power purchases.
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