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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

FERC Requests Information on Megawatt Laundering

LCG, Feb. 19, 2002--The California Independent System Operator has been asked by staff of the Federal Energy Regulatory Commission for details relating to past trading and energy generation by companies that exhibit similarities with strategies used by bankrupt Enron Corp.

The ISO produced a report in October which concluded that 20 energy trading companies may have profited by selling output in California through out-of-state trading partners, to avoid price caps within the state. Known as "megawatt laundering," the behavior may have led to millions of dollars in higher costs to the state. Although the report covered the period 1998-2002, FERC will only consider refunds for trading between Oct. 2, 2000 and June 20, 2001.

FERC will consider additional evidence through the end of the month as it decides on whether to grant up to $8.9 billion in refunds. The evidence of megawatt laundering could take the form of schedules submitted to the ISO, which would indicate when and where power would be generated. Enron's actual power generation and transmission of power were sometimes inconsistent with actual usage of the transmission system, allowing it to be paid for relieving congestion where none actually existed.
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