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LCG Releases January–March 2026 PJM Congestion Outlook Featuring Fundamentals-Based 3-Month Forecast

LCG, December 2, 2025 — LCG today announced the release of its PJM Congestion Outlook for January–March 2026, delivering a fundamentals-based, three-month forecast designed to help traders and risk managers better navigate congestion risks in PJM’s FTR markets.

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DOE Selects TVA and Holtec to Rapidly Advance Deployment of Small Modular Reactors

LCG, December 2, 2025--The U.S. Department of Energy (DOE) today announced the selection of the Tennessee Valley Authority (TVA) and Holtec Government Services (Holtec) to support early deployments of advanced, light-water small modular reactors (SMRs) in the United States. With this announcement, DOE is supporting the first-mover teams to develop and construct the first Gen III+ small modular reactor (Gen III+ SMR) plants in the United States. The project teams will receive up to $800 million in federal cost-shared funding to advance initial projects in Tennessee (TVA) and Michigan (Holtec) and act to expand the Nation’s capacity while facilitating additional follow-on projects and associated supply chains.

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Industry News

FERC Puts California $9 Billion Refund Case on Hold

LCG, Dec. 7, 2001--The Federal Energy Regulatory Commission yesterday canceled a December 17 hearing on California's claim for $9 billion in refunds from "robber" power producers and placed the case on hold indefinitely.

The order, signed by FERC Chairman Pat Wood and three other commissioners, took California officials and the power companies by surprise. "The commission hereby directs the presiding administrative law judge to defer further action in the evidentiary hearing," FERC's three paragraph order read in part.

The office of California Gov. Gray Davis saw both good and bad in FERC's action. "The bad news is that FERC is delaying taking action on the billions of dollars that are owed to Californians," said spokesman Steve Maviglio. "The good news, however, is that FERC is moving forward on a rehearing that will go beyond the refunds and cover additional points."

FERC Administrative Law Judge Bruce Birchman, who had previously promised to issue a decision in March of next year, said "Everything is put on hold until the commission issues a further order." He could not estimate how long the case would be deferred.

FERC's action stems from a request by some of the power companies that the commission look into the effect on the case of its July order capping wholesale power rates in Western states.

"If the commission were to grant rehearing or clarification of some of the issues raised (by the July action), this could potentially affect the calculations being determined in the evidentiary proceedings," FERC said in yesterday's order.

California claims it is owed $9 billion as the result of "overcharges" by out-of-state companies that purchased power plants from the state's three investor-owned utilities as part of California's electric restructuring scheme.

The power producers deny that their charges were more than what buyers were willing to pay at the time the transactions took place. Moreover, they say that they would like to be paid for the electricity they sold to the state's utilities, and ultimately the state itself, in those transactions.

The companies involved in the case -- characterized by Davis as "the biggest snakes on the planet earth" -- are Reliant Energy Inc., The Williams Co.s, Duke Energy Corp., Calpine Corp., Mirant Corp. and Dynegy Inc. Enron Corp. is also involved, but may not have much stomach for further litigation.

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