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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

FERC Files Suit Against CA ISO for Noncompliance

LCG, August 19, 2002-The Federal Energy Regulatory Commission has filed a lawsuit against the California Independent System Operator because the ISO did not comply with a FERC order to change its governing board.

FERC ordered the California ISO to disband and restructure itself into a two-tiered board. The board was to be divided into independent and advisory boards, the latter containing industry members such as consumer advocates, utility officials, and plant owners. FERC asserts that the ISO board is not independent enough.

Earlier this month, the ISO's board, which was appointed by Governor Gray Davis, voted to ignore FERC's order, and nine days later FERC brought a lawsuit against the organization.

The deadline for compliance was Thursday; Friday, FERC filed the suit in a Washington federal court.

Governor Davis and State Attorney General Bill Lockyer are among those most vocally opposed to FERC's attempt to regulate the organization responsible for California's electricity transmission reliability.

Some have pointed out that FERC members were appointed in a similar way by President Bush.

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