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NRC Accepts the Construction Permit Application for TVA's Small Modular Reactor Project

LCG, July 10, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted a construction permit application for review from the Tennessee Valley Authority (TVA) to build one of the nation’s first small modular reactors (SMR). TVA submitted its application in late May to use GE Vernova Hitachi’s BWRX-300 design and to install the advanced nuclear plant at its Clinch River site near Oak Ridge, Tennessee. TVA's application is the first in the U.S. that uses GE Vernova Hitachi’s BWRX-300 design.

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Red Oak Power Facility in PJM to be Acquired by Strategic Value Partners

LCG, July 9, 2025--Strategic Value Partners, LLC (together with its affiliates, SVP) yesterday announced that its managed funds (the "SVP Funds") have agreed to acquire Red Oak Power, an 831-MW natural gas-fired combined-cycle power generation facility located in Sayreville, New Jersey.

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Industry News

Bills Circulated on Georgia Gas Restructuring

LCG, Feb. 20, 2002--Georgia Gov. Roy Barnes is expected to release a plan by the end of the week that addresses dissatisfaction among consumers and marketers with the current status of gas deregulation.

The proposal will likely share key elements of draft bills by state legislators. The governor's plan is expected by Rep. Mark Bukhalter (R-Alpharetta), and Sen. Nathan Dean (D-Rockmart) to have a provision establishing a "last resort" provider that would serve those customers unable to pay. Most customers are served by four marketers, who have said that their bills are inflated by unpaid accounts.

There is also speculation concerning approval of non-profit electric membership corporations as marketers, a move that would further broaden the range of market participants.

The four existing suppliers reacted negatively to a governor's task force recommendation that a regulated supplier be set up for customers unhappy with their current supplier. Neither Burkhalter nor Dean has said he supports this idea. Burkhalter believes that by allowing marketers to handle their own pipeline capacity scheduling, and to store natural gas in reserve, their payments to former monopoly supplier Atlanta Gas Light Co. would fall, in turn benefiting their customers.

So far, a dozen bills have circulated among Georgia lawmakers.
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