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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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DOE Announces New Path to Test Advanced Nuclear Reactors

LCG, June 18, 2025--The U.S. Department of Energy (DOE) announced late today a new pilot program to expedite the testing of advanced nuclear reactor designs under DOE authority outside of the national laboratories. The new pilot program is intended to unlock private funding and provide a fast track to commercial licensing.

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Industry News

NRG Files Chapter 11

LCG, May 15, 2003-Yesterday, Xcel Energy Inc. unit NRG Energy Inc. filed for Chapter 11 bankruptcy protection.

NRG filed in U.S. Bankruptcy Court in the Southern District of New York; the company plans to continue regular operations while undergoing restructuring.

NRG has $9.23 billion in debt. Its reorganization plan involves a $752 million debt restructuring settlement with creditors, and it expects to emerge from bankruptcy by year's end. The company will no longer be included in Xcel's financial statements.

Leonard LoBiondo of Kroll Zolfo Cooper LLC will assume responsibility as chief restructuring officer, and John Boken, also from Kroll Zolfo Cooper, will be interim president and chief operating officer.

On Wednesday, shares of Xcel increased by 20 cents or 1.4 percent on the New York Stock Exchange.

Xcel Energy is based in Minneapolis and controls utilities in Colorado, North and South Dakota, Minnesota, Wisconsin, Michigan, and some of the Southwest.

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