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Natura Resources Announces Agreement with NGL Energy Partners to Develop 100-MW SMRs with Large-Scale Produced Water Treatment in the Permian Basin

LCG, February 4, 2026--Natura Resources LLC (Natura), a developer of advanced molten-salt nuclear reactors, announced yesterday that it has signed an agreement with NGL Water Solutions Permian LLC, a subsidiary of NGL Energy Partners LP (NGL), to pursue opportunities to combine Natura's advanced nuclear reactor technology with thermal desalination for power production and oil and gas produced water treatment. NGL transports, treats, recycles and disposes of more than 3 million barrels per day of produced and flowback water generated from crude oil and natural gas production in the Permian Basin.

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OPG Completes Darlington Nuclear Station Refurbishment Project Under Budget and Ahead of Schedule

LCG, February 2, 2026--Ontario Power Generation (OPG) announced today that construction on the four-unit Darlington Refurbishment project is now complete. Station staff are completing final testing, and the last unit is expected to return to service in the coming weeks. OPG stated that the overall project is currently four months ahead of schedule and $150 million under budget.

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Industry News

Allegheny Asks Permission for Special Borrowing

LCG, July 22, 2003--With its debt already relatively high compared to equity, Allegheny Energy Inc. is seeking to issue new notes that would be backed by regulated utility units, a move that may meet with resistance from the Securities and Exchange Commission.

The $2 billion worth of borrowing by the holding company would be used to sustain the unregulated arm of the company. The requirement regarding capital structure for a company owning utilities under the 1935 Public Utility Holding Company Act is to have at least 28% equity in order to issue securities, whereas in Allegheny's case it stands at 20%. The consequences if the request is not granted could be to undermine the utilities Potomac Edison Co. and West Penn Power, according to the public utilities commissions of Maryland and Pennsylvania. Those commissions have expressed their support of the SEC granting the request.

The Wall Street Journal quoted analyst Craig Shere, with Standard & Poor's, as saying that regulators have taken part in a "backlash" against increasing debt on the part of utilities due to fallout from deregulation. Allegheny owns utilities in Maryland, West Virginia, Virginia and Pennsylvania, and may sell more assets such as trading contracts according to its cash flow situation.
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