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TerraPower Announces Start of Construction on First Utility-Scale Advanced Nuclear Plant in Wyoming

LCG, April 23, 2026--TerraPower announced today the official start of construction on its Kemmerer Unit 1 nuclear power plant, which could be the first utility-scale advanced nuclear power plant in the United States. In early March, the Nuclear Regulatory Commission (NRC) announced that it had authorized the staff to issue a construction permit for Unit 1 commercial nuclear power plant in Kemmerer, Wyoming.

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TVA Announces Two Energy Storage Agreements Totaling 425 MW/1,700 MWh

LCG, April 22, 2026--The Tennessee Valley Authority (TVA) yesterday announced two new, 20-year agreements for a 225 MW/900 MWh battery energy storage system (BESS) project in East Tennessee and for a 200 MW/800 MWh BESS project in northern Alabama. Both projects are planned to commence commercial operations in 2029.

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Industry News

E·on, BP in Gas-for-Oil Asset Swap

LCG, July 17, 2001Germany's big energy firm Eon AG said yesterday it has reached agreement with British global petroleum giant BP Plc on a swap of assets that will move certain BP gas properties to Eon and some Eon oil interests to BP. A lot of cash will be involved as well.

BP will pay 6.5 billion euros ($5.5 billion U.S.) and assume $950 million in debt for a 51 percent interest in Veba Oel, an Eon subsidiary that owns Aral, Germany's leading chain of gas stations, and will have an option to buy the remaining shares beginning in April. BP said it expects annual savings and revenue increases totaling $200 million if it buys the entire company.

Eon will pay 1.63 billion euros ($1.4 billion) for 51 percent of BP unit Gelsenberg AG, which owns 25.5 percent of Ruhrgas, Germany's largest gas importer and one of Europe's three largest natural gas companies. Eon will also have an option to buy the rest of Gelsenberg beginning January.

Eon, which was formed in 1999 through the merger of utilities Veba AG and Viag AG, earlier this year bought British utility Powergen Plc for $7.4 billion, giving the German company a presence in the British and U.S. electricity markets.

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