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Matrix Renewables Announces the Commissioning of Pleasant Valley Solar 1

LCG, April 15, 2025--Matrix Renewables announced today the successful commissioning of the Pleasant Valley Solar 1 power generation facility in Ada County, Idaho. The 200-MWac solar facility includes a Power Purchase Agreement (PPA) that was secured through negotiation with Meta and Idaho Power. Matrix Renewables states the facility is the largest operational solar facility in Idaho Power's system. Sundt Renewables, the Engineering, Procurement, and Construction (EPC) services provider, completed construction of the project on March 2nd.

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Duke Energy Seeks to Extend Operating License for Robinson Nuclear Plant

LCG, April 9, 2025--Duke Energy announced yesterday its submission of a subsequent license renewal (SLR) application to the U.S. Nuclear Regulatory Commission (NRC) for the Robinson Nuclear Plant, a 759-MW nuclear unit located near Hartsville, South Carolina. The application requests extending the plant's operations for an additional 20 years.

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Industry News

New Jersey Utility Has Its Eye on Cinergy

LCG, March 9, 2001New Jersey-based Public Service Enterprise Group Inc. is in "advanced discussions" to acquire Cinergy Corp. of Ohio, according to this morning's edition of the Wall Street Journal.

The paper says the acquisition would cost PSEG more than $5.6 billion in stock plus $2.9 billion in assumption of long-term debt. That works out to a very small premium for Cinergy shareholders who would have to approve the deal.

In an attempt to confirm the deal, the Wall Street contacted PSEG spokesman Paul Rosengren who said "I don't make comments on deals that may or may not be under discussion."

Cinergy chairman and chief executive James Rogers could be a sticking point in a merger with PSEG. He is known to enjoy being top man and would want to run the combined companies, but would have to wait in the wings for perhaps as long as five years.

A former deputy general counsel for the Federal Energy Regulatory Commission, Rogers has proved adept at coping with changes in the electric market and would like the chance to run a bigger company. As long ago as 1996, musing about "convergence" among utilities, he asked metaphorically "Cinergy-Sprint? Why not?"

In the deal envisioned by the paper, Cinergy would take a back seat, even though it is the larger company in terms of revenues. PSEG would likely have eight of the 14 seats on the board and E. James Ferland, PSEG's chairman, president and CEO would run the show.

Now, if the transaction were structured so that Rogers were chairman and chief executive and Ferland were chairman emeritus, that would be something else.

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