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Oklo and Siemens Energy Sign Agreement to Accelerate Power Conversion System for New SMR in Idaho

LCG, November 19, 2025--Oklo Inc. and Siemens Energy announced today that the parties have signed a binding contract for the design and delivery of the power conversion system for Oklo’s Aurora-INL (Idaho National Laboratory) nuclear small modular reactor (SMR). The agreement authorizes Siemens Energy to begin engineering and design work to expedite procurement of long-lead components and to initiate the manufacturing process for the power conversion system. Oklo’s expertise in advanced fission technology will be combined with Siemens Energy’s extensive industry experience with steam turbine and generator systems, with the ultimate goal of generating carbon-free, reliable electricity.

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NERC's New Winter Reliability Assessment Raises Concerns for Elevated Risk of Insufficient Supplies to Meet Demand in Extreme Operating Conditions

LCG, November 19, 2025--NERC yesterday released its 2025–2026 Winter Reliability Assessment (WRA), which concludes "much of North America is again at an elevated risk of having insufficient energy supplies to meet demand in extreme operating conditions." The WRA does state that resources are adequate for normal winter peak demand, but extended, wide-area cold snaps will be challenging.

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Industry News

Companies Receive Subpoenas from San Francisco U.S. Attorney

LCG, Nov. 11, 2002--The U.S. Attorney's office in San Francisco has issued subpoenas to four energy companies who conduct business in the California energy markets, the companies announced today.

The subpoeanas are part of a grand jury investigation. The companies have said that the subpoenas concern their activity in California markets. Currently, multiple investigations focussing on the companies are being conducted by federal agencies, including the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission and the Securities and Exchange Commission. Of those making the announcement - Duke Energy Corp., William Cos., Reliant Resources Inc. and Mirant Corp. - none has so far been the subject of substantial findings.

The U.S. Attorney's office in San Francisco last month charged the former top trader at Enron, Timothy Belden, with conspiracy to commit wire fraud. Belden, who said he would cooperate with prosecutors, has admitted engaging in trading behavior which allowed his trading unit to extract high profits based on the California market design. In some cases, Belden was to admit that power from California was sold outside California, to parties who then re-sold at uncapped, out-of-state prices.

The companies have denied engaging in improper trading activity, and have said that the cause of California' energy crisis was in fact a shortage of supply.
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