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Oklo and Siemens Energy Sign Agreement to Accelerate Power Conversion System for New SMR in Idaho

LCG, November 19, 2025--Oklo Inc. and Siemens Energy announced today that the parties have signed a binding contract for the design and delivery of the power conversion system for Oklo’s Aurora-INL (Idaho National Laboratory) nuclear small modular reactor (SMR). The agreement authorizes Siemens Energy to begin engineering and design work to expedite procurement of long-lead components and to initiate the manufacturing process for the power conversion system. Oklo’s expertise in advanced fission technology will be combined with Siemens Energy’s extensive industry experience with steam turbine and generator systems, with the ultimate goal of generating carbon-free, reliable electricity.

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NERC's New Winter Reliability Assessment Raises Concerns for Elevated Risk of Insufficient Supplies to Meet Demand in Extreme Operating Conditions

LCG, November 19, 2025--NERC yesterday released its 2025–2026 Winter Reliability Assessment (WRA), which concludes "much of North America is again at an elevated risk of having insufficient energy supplies to meet demand in extreme operating conditions." The WRA does state that resources are adequate for normal winter peak demand, but extended, wide-area cold snaps will be challenging.

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Industry News

Gas Rate Increase Sought by PNM

LCG, Jan. 13, 2002--The Public Serivce Company of New Mexico (PNM) has filed for an increase in natural gas rates, based on increases in fees that it says would offset costs to maintain and expand its pipeline network.

The Public Regulation Commission will consider the proposal, which asks for increases in monthly access fees, transportation and distribution charges, and increases in hook-up and reconnection fees. Addtional charges to last one year would be used to cover costs incurred but not allowed during a 1997 rate case. The average additional cost per month for residential customers is anticipated to be $6.67, while small business would pay an average of $13.74 more per month.

Bill Real, the senior vice president of public policy for PNM, said that the company has been responsible for the costs of keeping its pipeline growing and working for 10 years, costs that he said amount to $300 million. PNM will reportedly experience new costs associated with compliance with a federal pipeline safety law ($16 million), as well as with more expensive construction materials, technologies and employee training.

The rate increase would be used to construct 30 miles of new pipeline on the West Side of Albuquerque and Rio Rancho ($22 milllion), and to install corrosion-resistant polyethylene pipe along 150 miles where steel pipe now lies ($23 million).

The utility has achieved a 3 per cent return on equity in the past year, whereas the increase is expected to yield a 12 per cent return on equity. The case is expected to take 10 months. Sam Thompson, a spokeswoman for Attorney General Patricia Madrid, said, "We will ensure that any proposed rate increase is both necessary and as low as possible."
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