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News
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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Industry News
NuScale Power Announces New Agreements for SMRs
LCG, May 28, 2021--NuScale Power and Grant County Public Utility District (Grant PUD) Wednesday announced the signing of a memorandum of understanding (MOU) to evaluate the deployment of NuScale's advanced nuclear technology in Washington. Separately, NuScale announced a new commercial agreement with Japanese heavy-industry engineering and manufacturing company IHI Corporation, which will invest in NuScale Power and become a strategic supplier for NuScale small modular reactors (SMRs).
Grant PUD is a public electric utility in Washington that serves 40,000 retail customers in Grant County, which includes an expanding industrial sector. Under the new MOU, the two parties will work together to support Grant PUD's due diligence process in evaluating reliable, carbon-free energy solutions. The deployment of NuScale's Nuclear Regulatory Commission (NRC)-approved design will support meeting the demands of Grant PUDs customers and the desired commercial operation timeline with acceptable and affordable cost certainty.
NuScale Power's Chairman and Chief Executive Officer stated, "We are proud to partner with an experienced, pioneering utility that has brought reliable, low-cost power to its people by investing in innovative, sustainable energy projects. As interest in our small modular reactors (SMRs) grows, we welcome this opportunity to emphasize how NuScale's safer and smarter technology can be the reliable and affordable clean energy solution that communities like Grant County and others across America need."
Grant PUD's Chief Executive Officer stated, "Grant PUD is very excited to be in partnership with NuScale to explore the development of one of its small modular reactor nuclear plant. NuScale's dedication to innovation and safety fit well with Grant PUD's values. We are excited to work towards making nuclear power a key part of a carbon free future in the Pacific Northwest."
The agreement is evidence of the growing demand for innovative SMRs to provide communities with reliable, base-load electricity from carbon-free resources. In January, NuScale Power and Utah Associated Municipal Power Systems (UAMPS) announced agreements to facilitate the development of the Carbon Free Power Project (CFPP), which will deploy NuScale Power Modules™ at the Idaho National Laboratory (INL) to deliver cost-effective, carbon-free power for UAMPS member utilities.
NuScale's SMR design is built upon existing light-water nuclear reactor technology. Presented during the U.S. NRC Design Certification process, NuScale's plant design demonstrated its Triple Crown For Nuclear Plant Safety™, meaning reactors will safely shut down and self-cool indefinitely with no need for operator or computer action, AC or DC power, or the addition of water.
NuScale's SMR is scalable in 77 MW increments up to 924 MW. Modules can be added incrementally as regional load demands increase, which offers flexibility and reduced financial risk. Incremental additions can also be installed to complement growing intermittent renewable resources. These qualities align well with Grant PUD's long-term objective of providing its customers with reliable, carbon-free energy and are a driving force in the initiation of the due diligence process in order to investigate the applicability of the NuScale technology in Central Washington.
Separately, NuScale announced a new commercial agreement with Japanese heavy-industry engineering and manufacturing company IHI Corporation. IHI will provide a cash investment in NuScale Power and will become a preferred supplier of certain manufactured components for NuScale plants globally.
The President and CEO of IHI Hiroshi said the strategic partnership with NuScale was a "great opportunity" for the Japanese company, which has since the 1950s designed and manufactured primary components for nuclear power plants in Japan. He further stated, "IHI wants to support the move toward a carbon-neutral economy, and NuScale's technology is safe, clean, reliable and closest to commercialization among its competitors. IHI can support rapid deployment of NuScale's technology by leveraging IHI's extensive engineering and manufacturing experience in the nuclear industry."
NuScale's Chairman and CEO stated, "IHI's welcome investment in NuScale Power compliments our effort to demonstrate how cleaner and safer advanced nuclear technology can bring numerous economic and environmental benefits to countries around the world as we all transition to clean energy. This announcement truly emphasizes the growing Japanese and global interest in NuScale's innovative SMR design, and this new partnership is an exciting step for our technology and its international potential."
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The Locational Marginal Price Model (LMP) Network Power Model
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Day Ahead and Real Time Market Simulation
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