Utility
Restarting a nuclear plant that shut in 2020. The federal financing behind it is closed rather than pledged, which is rare in this layer.
615 MW Duane Arnold, up to $1.9bn DOE loan closed
· 5 min
Virginia's utility regulator holds hearings on the $67 billion merger in November, and the companies say they are funding the extension mainly by redirecting credits that would have gone to large data centres.
· L1 Power and land · $10 a month, two years to four · Confirmed
NextEra and Dominion filed new paperwork with Virginia's utility regulator on 14 September, offering residential customers four years of 10 dollar monthly bill credits instead of two. The companies say the extension is funded mainly by redirecting credits that would have gone to large data centres, plus about 90 million dollars from shareholders, a figure reported by the Virginia outlet Cardinal News rather than stated in the filing. The package also raises Dominion's low income assistance programme by 100 million dollars through 2038, adds a 100 million dollar workforce fund, a Virginia supplier programme of up to 1 billion dollars a year for five years, and 1,000 direct jobs. Virginia regulators hold hearings in November and are expected to rule in January 2027, with the 67 billion dollar merger still targeted to close in the second half of 2027. If you are a Dominion Virginia customer this means a longer bill credit if it is approved. Anywhere else, it changes nothing for you.
Read the story: NextEra and Dominion double the length of promised Virginia bill credits to help win merger approval · NextEra Energy
· L1 Power and land · up to $1.9bn · Confirmed
A nuclear plant in Iowa stopped generating in 2020. The US government has now completed a loan of up to 1.9 billion dollars to help pay for restarting it. The Energy Department says the plant is 615 megawatts, enough to power nearly 500,000 homes.
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