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Holtec Achieves Milestone towards Restarting Palisades Nuclear Facility and Advances Plans to Build Two SMRs at Palisades Site

LCG, March 31, 2026--Holtec International yesterday announced that it successfully completed a milestone test necessary to return Holtec's Palisades Nuclear Generating Station to service. The 805-MW pressurized water reactor (PWR) is located in Michigan and was shut down by Entergy in May 2022. Holtec acquired the facility in June 2022 and has pursued a path to return the plant to service.

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Arbor Signs Agreement with GridMarket for 5 GW of Baseload Power

LCG, March 25, 2026--Arbor Energy today announced an agreement with GridMarket, an energy and infrastructure project facilitator, to deliver up to 5 GW of zero-emission power starting in 2029. GridMarket supports large energy users, including data centers, manufacturers, and logistics providers, with securing reliable and cost-effective power.

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Industry News

Florida Power Asks to Cut Rates, Increase Net

LCG, Sept. 17, 2001--Florida Power Corp. on Friday asked the Florida Public Service Commission for permission to cut rates and, at the same time, keep a higher percentage of its operating profits.

The company, Florida's second-largest utility, proposed the first change in its base rates in eight years -- a $5 million reduction in each of the next 15 years for a total of $75 million. The company would also invest $300 million over the next three years to improve reliability and quality of service to its customers in central and north Florida.

Florida Power said the $75 million savings to its customers was "directly attributable to the net savings available to customers as a result of the merger of Florida Power with Carolina Power & Light" Co. last fall.

The company also asked to be allowed to earn a return on equity of up to 13.2 percent. It is currently allowed to earn as much as 13 percent and earned a return of 12.7 percent last year.

Florida Power said that additional reductions were in the offing for its customers. A $37 million reduction will occur in 2004 when the company completes amortization of its 1997 buyout of the Tiger Bay cogeneration project in Fort Meade, from which it was required by federal law to purchase power at above market prices.

The company also said it will file an application with the commission this week that would call for lowering its annual fuel cost and related charges by about $67 million, beginning next year.

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