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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

Additional Rate Increase Possible from BPA

LCG, Jan. 31, 2003--Despite rate increases scheduled to reach 50 percent within months, the Bonneville Power Administration, the federal agency that has historically been a provider of inexpensive power in the Northwest, is projected to impose additional surcharges because of low liquidity and poor hydro conditions.

The administrator Steven Wright is expected to announce a rate increase as early as next week. Last year, rate reductions (less significant increases) had been seen as a possibility.

The agency's budget deficit is approaching $1.5 billion, with cash reserves having fallen $613 million during the past two years. The BPA will continue to pay investor-owned utilities $1.4 billion through 2006 rather than deliver power they were due, and buys power it cannot produce itself through long-term contracts, at a cost above current market prices. Due to shortfalls in output by hydropower generation, revenue has been reduced by $250 million.

The long-term power supply contracts BPA entered as a buyer during 2000, when many customers looked to buy from BPA under their own long-term contracts, were not priced as high as they could have been, considering the spot market at that time. The BPA's inability to deliver power to large utilities, however, means that those utilities can use the money BPA pays them to keep rates low, while BPA's rates have climbed.
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