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NERC's New Annual Assessment Shows Rapid Demand Growth Increasing Resource Adequacy Risks Across North America

LCG, January 30, 2026--The North American Electric Reliability Corporation (NERC) yesterday issued its 2025 Long-Term Reliability Assessment (LTRA) and infographic that spotlight intensifying resource adequacy risks throughout the North American bulk power system (BPS) over the next 10 years.

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Sage Geosystems Announces Funding for Next-generation Geothermal Power Generation Project

LCG, January 21, 2026--Sage Geosystems, the company pioneering Pressure Geothermal, today announced that it closed over $97 million in Series B funding to advance its geothermal power generation and energy storage solutions, including its first commercial next-generation geothermal power generation facility. Ormat Technologies, a vertically integrated company engaged in geothermal and recovered energy generation ("REG"), and Carbon Direct Capital, a growth equity investment firm, co-led Sage’s Series B round, representing the full backing of Sage and Pressure Geothermal technology from leaders in geothermal energy and growth capital.

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Industry News

Williams Has Deal With Buffett and Banks

LCG, Aug. 1, 2002--An agreement between troubled William Cos. Inc., investor-billionaire Warren buffett and Lehman Brothers to sell oil and gas assets it bought only last year allows Williams to increase its total borrowing capability and improve its cash situation.

Buffett's Berkshire Hathaway Inc. and Lehman Brothers provided a $900 million senior secured credit agreement (senior being a higher level of obligation than junior). In return, MidAmerican Energy Holdings, under Berkshire Hathaway, receives preferred stock in Williams. Hugh Welton, a senior director at Fitch Ratings, a credit-rating agency, said, "it's pretty spectacular the amount of stuff they've done in a week, though it's been at the expense of selling some good assets that have contributed to their earnings profile."

Aside from the Buffet-Lehman Brothers deal, $1.1 billion of credit was secured through an existing line of $700 million, plus $400 million in new credit. Some of the other asset sales made by Williams included a $350 million sale of Wyoming natural gas assets to Encana Corp., and nearly all of its gas-related holdings in the Anadarko basin to Chesapeake Exploration LP, for $37.5 million.

Other energy companies have been worried at what was the very real prospect of a credit default this week by Williams, which would have contributed to a more dismal outlook for those companies already trying to improve fallen credit ratings. Dynegy this week sold its Northern Natural Gas pipeline to Buffett for $928 million.
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