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NERC's New Annual Assessment Shows Rapid Demand Growth Increasing Resource Adequacy Risks Across North America

LCG, January 30, 2026--The North American Electric Reliability Corporation (NERC) yesterday issued its 2025 Long-Term Reliability Assessment (LTRA) and infographic that spotlight intensifying resource adequacy risks throughout the North American bulk power system (BPS) over the next 10 years.

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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Industry News

Enron Executive Receives Prison Sentence

LCG, September 11, 2003Ben Glisan, former treasurer for the Enron Corporation, was sentenced to five years in federal prison for conspiracy to commit wire fraud.

Glisan was sentenced yesterday after he plead guilty to one count of criminal wire fraud. He will forfeit $938,000 as illegally obtained revenue. He will also not receive any refund for the $412,000 he paid in income taxes last year.

Prosecutors were probably hoping to make a deal with Glisan in order to develop cases against Enrons big fish, particularly former chief executive Jeff Skilling and former chairman Ken Lay. However, Glisan has proved fairly uncooperative, and the Justice Department said they made no agreement.

Glisan worked under Andrew Fastow, Enrons former financial officer. In May, Glisan, Fastow, and former Enron employee Dan Boyle plead innocent to indictments addressing allegedly manipulative accounting.

Yesterday, however, Glisan announced that he participated in an off-balance sheet partnership, Talon, that involved $30 million in capital that came from Enron but was reported as outside capital. He noted that he and others planned to manipulate Enrons financial statements.

Over twenty people previously employed by or somehow related to Enron have been indicted. Six have plead guilty, but Glisan is the first to be sent to prison.

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