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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

East Coast Weather Brings Record Energy Demand

LCG, January 28, 2003-Mid-Atlantic states have been experiencing nearly two weeks of cold weather, increasing demand for electricity to record levels.

PJM Interconnection, responsible for transmission for much of the mid-Atlantic region, has said that demand on Thursday of last week peaked at 55,031 megawatts, over 4,000 megawatts higher than the previous record demand of 50,864 megawatts, which was recorded two days prior.

The daytime high temperature on that Thursday, January 23, was 17 degrees Fahrenheit (or minus 8 Celsius). Before this year's demand record, the winter record in for PJM Interconnection was 50,129 megawatts, made January 27 of 2000.

PJM's all-time demand record is 63,777 megawatts, recorded August 14, 2002. Generally electricity demand is highest during the summer.

PJM serves 25 million people in Mid-Atlantic States and is connected to 71,600 megawatts of capacity.

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