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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

Lawsuit Brought by PG&E Over Revenue Bond Sale

LCG, Oct. 21, 2002--A lawsuit brought on Thursday by Pacific Gas & Electric Co. questions assumptions built into the sale of revenue bonds by the California Department of Water Resources, and could add to the cost of the bonds' repayment.

The suit had been anticipated, with the possibility of legal action being mentioned in a preliminary prospectus for the offering. It alleges that in the CDWR's deliberations, it held meetings which were not open to the public, and did not obey California law in determining "just and reasonable" revenue requirements. The bonds, to be repaid through a charge on customer bills of the three major investor-owned utilities, are intended to recover funds the agency spent on purchases of power on behalf of the utilities.

Pricing of the bonds depends on the ratings given the various types by the ratings agencies. Today, Standard & Poor's is expected to release ratings, after the PG&E lawsuit prompted it to conduct another review Friday. Fitch Ratings and Moody's Investors Service have signaled they will let their ratings stand. Fitch's vice chairman, Claire Cohen, told the Wall Street Journal, "If the court says something really horrendous, then we'll be reconsidering."

$5 billion worth in variable rate and tax-exempt bonds are being priced starting this week, according to State Treasurer Phil Angelides. An additional $6.95 billion of fixed-rate bonds are to be priced the following week, with the sale ending in another week's time.

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