Today’s mix is all about how we build the next kilowatt. FERC told MISO to explicitly model merchant HVDC in its planning (a big deal for projects like Grain Belt Express). Amazon is moving from PPAs to owning electrons, funding a 960-MW SMR campus in Washington to harden AWS. And DOE just published a Fusion Science & Technology Roadmap that leans on public-private teaming to push pilot plants by the mid-2030s. Together, they sketch a grid where private capital and new tech fill gaps faster than traditional processes can.

Amazon Goes Nuclear (for Real)

What happened: Amazon will fund Energy Northwest’s Cascade Advanced Energy Facility near Richland, WA—starting with four X-energy Xe-100 SMRs (320 MW) and expandable to 12 units (960 MW) to serve AWS and regional load.

Why it matters: The AI buildout is forcing hyperscalers to “bring their own power.” SMRs offer factory-built modules, high uptime, and a small footprint—exactly what data campuses need.

Key points

• Xe-100 is a high-temperature gas-cooled design using TRISO fuel; each module is 80 MW(e).

• Amazon/X-energy/KhNP/Doosan sketched a pathway to >5 GW of U.S. nuclear by 2039, with up to $50B in mobilized investment and supply-chain capacity.

• Target: construction late decade; operations in the 2030s.

• Context: tech firms are building on-site gas, fuel cells, microgrids nationwide as interconnection and transmission timelines stretch.

Bottom line: Hyperscalers aren’t waiting for the grid; they’re becoming generators—and nuclear just graduated from talking point to project finance.

NYISO: FERC to MISO: Put Merchant HVDC in the Model

What happened: FERC unanimously ordered MISO to spell out when and how merchant HVDC lines are incorporated into its transmission planning base cases and sensitivities—within 90 days.

Why it matters: Merchant lines (no direct ratepayer backing) like Grain Belt Express (5 GW, ±600 kV HVDC) can reshape flows and avoid duplicative regulated builds. If they’re invisible to the model, stakeholders may approve billions in wires that a private line would have handled.

Key points

• FERC rejected Invenergy’s ask to force Grain Belt into MISO’s LRTP Tranche base cases, but agreed there’s a tariff gap on merchant treatment.

• Commissioner See: when billions are at stake, planners owe customers clearer sensitivity analysis and assumptions.

• Chair Rosner: expects a PJM co-location ruling this year; also flagged 11% staff attrition at FERC amid broader federal cuts; no layoffs planned.

• Commissioner Chang pushed deeper gas–electric coordination rules into tariffs.

Bottom line: Expect MISO to add a formal lane for merchant HVDC in planning—raising the bar for demonstrating benefits on regulated portfolios.

DOE’s Fusion Roadmap: Pilot Plants by Mid-2030s

What happened: DOE released a Fusion Science & Technology Roadmap to align public labs and a $9B-plus private sector toward pilot operations in the mid-2030s.

What’s in it

• Near term (2–3 yrs): private designs finalized; public test stands and neutron sources kick off.

• Mid term (3–5 yrs): private builds early pilot plants; public delivers integration platforms with neutron sources.

• Late term (5–10 yrs): private operates first non-nuclear and nuclear pilots; public stands up tritium fuel cycle/blanket facilities and materials test beds.

Gaps called out: Tritium breeding/handling, first-wall materials, and high-duty neutron testing remain the tall poles.

Bottom line: A coordinated lane for licensing-relevant science plus private pilots—aimed at turning fusion from demos into bankable assets.

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Conversation Starters

• C3 News Mag — “Nobel Prize Winners Show Why Innovation is Essential for People and the Planet.”
  Nick Loris’ take on the 2025 Econ Nobel (Mokyr, Aghion, Howitt): innovation and openness drive both prosperity and cleaner energy. Read for a policy lens you can quote—why permissionless innovation (not central planning) is the fastest path to decarb + growth.

• Cato — “AI Needs Electricity, and Electricity Needs Freedom.”
  A sharp argument that today’s permission-first grid can’t keep pace with AI-scale load and should make room for off-grid/microgrid models. Read if you want concrete, deregulatory ideas (CRE, exemptions from NERC/FERC for non-synchronized systems) that hyperscalers and policymakers could actually adopt this year.

• Financial Times — “China powers global growth in electricity storage.”
  BNEF now sees ~2 TW / 7.3 TWh of storage by 2035, with China providing ~43% of installed capacity and most low-cost LFP. Read to understand how U.S. content rules and tariffs will reshape project costs, timelines, and supply chains—critical context for any storage or hybrid-renewables plan.

Today’s Chart

Storage is the new peaker. BloombergNEF now pegs the world at ~2 TW / 7.3 TWh by 2035, ~12× today—80% of near-term builds are <6-hour batteries. China leads on cost and volume; the U.S. still scales to ~235 GW / 948 GWh, but Buy-America rules and tariffs slow some projects at the margin. The strategy signal: pair renewables with four-hour storage today, grow longer duration later—and diversify supply chains fast.

Good Bet: SMR Risers

Seeking Alpha’s debate pegs NuScale (SMR) as the near-term, NRC-approved leader; Oklo (OKLO) rising; Energy Fuels (UUUU) as a fuel-side hedge. Translation: if you’re playing the theme, spread risk across reactor OEMs + uranium/fuel cycle.

Bad Bet: Betting Against Storage

Governments and utilities still trying to time the storage market — waiting for “long-duration tech” before scaling — are setting themselves up to miss the entire curve. The economics are already shifting under them: China added nearly 50 GW of storage this year alone, while U.S. utilities are still piloting two-hour batteries and filing ten-year plans. The bet that we can pause deployment until technology “matures” misunderstands how it matures — by building it at scale.

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