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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

Enron Memo Echoed in Cheney's Message to California

LCG, Jan. 31, 2002--A memo published by the San Francisco Chronicle Wednesday, from Ken Lay to Vice-President Dick Cheney, indicates that the former Enron Chairman and Cheney were both in support of free markets, not price caps, in California last year.

The memo reflected talks between the two men in April 2001, when California officials were calling for the White House to back wholesale power price caps. Public remarks by Cheney a few weeks later indicated a resistance to price caps, and a belief that such caps "would be a mistake," according to Cheney.

An excerpt from the memo reads, "the administration should reject any attempt to re-regulate wholesale power markets by adopting price caps or returning to archaic methods of determining the cost-base of wholesale power." It further warns that temporary price restrictions, not just ongoing caps, "will be detrimental to power markets and will discourage private investment."

The GAO has stated that it will go forward with a suit against the White House aimed at obtaining documents from energy policy talks. Mary Matalin, who advises Cheney, said "just because some of the things (from the memo) are included in the plan doesn't mean they were from the talks."

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