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FERC Releases the 2025 Summer Assessment for Energy Markets and Electric Reliability

LCG, May 15, 2025--The Federal Energy Regulatory Commission (FERC) announced today the release of the staff’s 2025 Summer Assessment on the outlook for energy markets and electric reliability during the June to September time frame.

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NRC Accepts Construction Permit Application for Dow's Advanced X-energy SMR Project in Texas

LCG, May 14, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted Dow's construction permit application to build X-energy Reactor Company, LLC's ("X-energy") first small modular reactor (SMR) plant to power a chemical facility in Seadrift, Texas. Dow's wholly-owned subsidiary, Long Mott Energy LLC, is developing the project to provide Dow's UCC1 Seadrift Operations manufacturing site with safe, reliable, and clean power and industrial steam to replace existing energy and steam assets that are approaching end-of-life. The project is part of a demonstration project supported by the U.S. Department of Energy (DOE) and, if approved, would be the first advanced nuclear facility at an industrial site in the United States.

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Industry News

NRG Files Chapter 11

LCG, May 15, 2003-Yesterday, Xcel Energy Inc. unit NRG Energy Inc. filed for Chapter 11 bankruptcy protection.

NRG filed in U.S. Bankruptcy Court in the Southern District of New York; the company plans to continue regular operations while undergoing restructuring.

NRG has $9.23 billion in debt. Its reorganization plan involves a $752 million debt restructuring settlement with creditors, and it expects to emerge from bankruptcy by year's end. The company will no longer be included in Xcel's financial statements.

Leonard LoBiondo of Kroll Zolfo Cooper LLC will assume responsibility as chief restructuring officer, and John Boken, also from Kroll Zolfo Cooper, will be interim president and chief operating officer.

On Wednesday, shares of Xcel increased by 20 cents or 1.4 percent on the New York Stock Exchange.

Xcel Energy is based in Minneapolis and controls utilities in Colorado, North and South Dakota, Minnesota, Wisconsin, Michigan, and some of the Southwest.

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