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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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EIA Presents Analysis of California's Solar and Wind Power Curtailment Challenges

LCG, May 29, 2025--The U.S. Energy Information Administration (EIA) released an analysis yesterday showing that the California Independent System Operator (CAISO), the grid operator for most of the state, is increasing its curtailment of the rapidly growing solar- and wind-powered generation facilities in order to balance electricity supply and demand, which is necessary to maintain a stable electric system.

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Industry News

Enron Shares Slide Below $10

LCG, Nov. 7, 2001--Shares in Enron Corp., once the darling of Wall Street, slid below $10 for the first time in ten years yesterday as the huge energy company struggled to shore up its balance sheet and calm the nerves of investors shaken by what appear to be shady business deals.

Enron stock closed down $1.50 yesterday on the New York Stock Exchange, a drop of 13.4 percent. The closing price of $9.67 is the lowest since May 1992, and that's when Enron was HNG/Internorth Inc.

The company has been unable -- or unwilling -- to explain how off-the-balance-sheet transactions could reach both the income statement and the balance sheet. The deals resulted in a $1 billion charge against earnings and a write-down of $1.2 billion in shareholder equity.

Those transactions, made with partnerships headed by Andrew Fastow, who was at the same time chief financial officer of Enron, are the target of an investigation by the U.S. Securities and Exchange Commission.

Fastow was placed on unpaid leave of absence in late October and replaced as chief financial officer. But it was an earlier departure that first raised eyebrows.

In August, Jeff Skilling, heir apparent to Chairman Kenneth Lay, abruptly resigned as chief executive saying only that he wanted a change of lifestyle. He may have envisioned at the time the lifestyle now being suffered by lay, who resumed the role of chief executive -- a lifestyle that includes answering embarrassing questions posed by federal investigators and reporters.

Industry observers feel that Enron isn't coming clean. "Senior people (are) making pronouncements without fully understanding the nature of what they're talking about and that in turn gives the impression that they're hiding something," said one.

Still, last year Enron earned $1.4 billion on revenues of $100 billion. Behind the perceived obfuscation lurks a pretty good company.

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