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Data Center Customer Adds 620 MW Order for INNIO's J624 Gas Engines

LCG, October 23, 2026--INNIO N.V. yesterday announced a 620 MW follow-on order from a developer and operator of mega-scale data center campuses in the United States. Together with the customer's 1.1 GW order announced previously in July, the new order brings cumulative orders from the customer to approximately 1.72 GW this year.

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The Nuclear Company Announces a 6.6 GW Nuclear Project to Commence Construction by 2030 in Kentucky

LCG, October 21, 2026--The Nuclear Company today announced a proposed nuclear energy campus in Kentucky that could potentially provide 6.6 GW of electric generating capacity. The Prosperity One nuclear energy campus, located along the Ohio River in eastern Kentucky, could accommodate up to six Westinghouse AP1000 reactors and would be the largest nuclear power generation site in the nation if fully constructed.

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Industry News

Shell Valuation of Power Agreements Too Optimistic, Former Manager Says

LCG, July 18, 2002--A former manager at the energy trading unit of Royal Dutch Shell ("Shell") in Houston who was dismissed in August 2001 told the Financial Times and Reuters that the company's valuation of options it held on power purchases relied on overly optimistic assessments of future power prices.

Shell's agreements with independent power producers require it to make capacity payments of $7.4 billion over 20 years. The power producers run plants using natural gas from Shell, which may exercise options to sell power from the plants should power prices rise. The agreements were sealed three years ago, when power prices in the U.S. were about 50% higher than they are currently. The manager, George Namur, claimed that "We knew what our capacity payments would be and then had to use highly optimistic power price forecasts and other creative items to exceed the 15 per cent return rate." The forecasts used in valuation of such options are potentially wide-ranging.

A statement by Shell indicated that "rigorous due diligence and evaluation processes" were undertaken prior to the company's completing the deals, which are not uncommon in the energy industry. Shell stated that 2001 accounting recognized profits from the deals as the agreements progressed. Most payments for the "tolling" agreements will be due in 2007.
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