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NRC Accepts the Construction Permit Application for TVA's Small Modular Reactor Project

LCG, July 10, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted a construction permit application for review from the Tennessee Valley Authority (TVA) to build one of the nation’s first small modular reactors (SMR). TVA submitted its application in late May to use GE Vernova Hitachi’s BWRX-300 design and to install the advanced nuclear plant at its Clinch River site near Oak Ridge, Tennessee. TVA's application is the first in the U.S. that uses GE Vernova Hitachi’s BWRX-300 design.

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Red Oak Power Facility in PJM to be Acquired by Strategic Value Partners

LCG, July 9, 2025--Strategic Value Partners, LLC (together with its affiliates, SVP) yesterday announced that its managed funds (the "SVP Funds") have agreed to acquire Red Oak Power, an 831-MW natural gas-fired combined-cycle power generation facility located in Sayreville, New Jersey.

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Industry News

ComEd Plans 50-Megawatt Load Adjustment Program

LCG, Apr. 7, 2003--A network of small control systems will enable ComEd to reduce power demand of up to 50 megawatts remotely, through EnergySaver technology to be provided by Electric City.

The Virtual "Negawatt" Power Plan® (VNPP), as it is called, will be implemented through 1500 separate installations at commercial, industrial and government facilities without requiring any of them to curtail operations. The demand adjustment will be realized through lighting. "We are pleased to see ComEd take a true leadership position regarding the application of advanced technology to provide an environmentally friendly approach to meeting peak loads," said John Mitola, CEO of Electric City.

The load reduction will be dispatchable, according to the needs and direction of ComEd. The customers taking part in the program will not have to pay for installation of the control technology, and will realize steady state savings on their energy costs. John Costello, senior vice president of Customer, Marketing and Energy Services for ComEd, said the agreement allows ComEd to "gain access to a curtailment system that gives us direct control and accurate measurement over curtailment in real-time. " Costello also noted that the VNPP "provides a long-term hedge against peak power supply and pricing."
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