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On Georgia’s utility regulator, copper prices, and greening Mardi Gras

Current conditions: Multiple wildfires are raging on Oklahoma’s panhandle border with Texas • New York City and its suburbs are under a weather advisory over dense fog this morning • Ahmedabad, the largest city in the northwest Indian state of Gujarat, is facing temperatures as much as 4 degrees Celsius higher than historical averages this week.
The United States could still withdraw from the International Energy Agency if the Paris-based watchdog, considered one of the leading sources of global data and forecasts on energy demand, continues to promote and plan for “ridiculous” net-zero scenarios by 2050. That’s what Secretary of Energy Chris Wright said on stage Tuesday at a conference in the French capital. Noting that the IEA was founded in the wake of the oil embargoes that accompanied the 1973 Yom Kippur War, the Trump administration wants the organization to refocus on issues of energy security and poverty, Wright said. He cited a recent effort to promote clean cooking fuels for the 2 billion people who still lack regular access to energy — more than 2 million of whom are estimated to die each year from exposure to fumes from igniting wood, crop residue, or dung indoors — as evidence that the IEA was shifting in Washington’s direction. But, Wright said, “We’re definitely not satisfied. We’re not there yet.” Wright described decarbonization policies as “politicians’ dreams about greater control” through driving “up the price of energy so high that the demand for energy” plummets. “To me, that’s inhuman,” Wright said. “It’s immoral. It’s totally unrealistic. It’s not going to happen. And if so much of the data reporting agencies are on these sort of left-wing big government fantasies, that just distorts” the IEA’s mission.

Wright didn’t, however, just come to Paris to chastise the Europeans. Prompted by a remark from Jean-Luc Palayer, the top U.S. executive of French uranium giant Orano, Wright called the company “fantastic” and praised plans to build new enrichment facilities and bring waste reprocessing to America. While the French, Russians, and Japanese have long recycled spent nuclear waste into fresh fuel, the U.S. briefly but “foolishly” banned commercial reprocessing in the 1970s, Wright said, and never got an industry going again. As a result, all the spent fuel from the past seven decades of nuclear energy production is sitting on site in swimming pools or dry cask storage. “We want to have a nuclear renaissance. We have got to get serious about this stuff. So we will start reprocessing, likely in partnership with Orano,” Wright said. Designating Yucca Mountain as the first U.S. permanent repository for nuclear waste set the project in Nevada up for failure in the early 2000s, Wright added. “In the United States, we’ve tried to find a permanent repository for waste and we’ve had, I think, the wrong approach,” he noted. The Trump administration, he said, was “doing it differently” by inviting states to submit proposals for federally backed campuses to host nuclear enrichment and waste reprocessing facilities. Still, reprocessing leaves behind a small amount of waste that needs to be buried, so, Wright said, “we’re going to develop multiple long-term repositories.”
The Trump administration could tweak tariffs on metals and other materials, U.S. Trade Representative Jamieson Greer said Tuesday. During an appearance on CNBC’s “Squawk Box,” Greer said he’d heard from companies who claimed they needed to hire more workers to navigate the tariffs. “You may want to sometimes adjust the way some of the tariffs are for compliance purposes,” he said. “We’re not trying to have people deal with so much beancounting that they’re not running their company correctly.” Still, he said, the U.S. is “shipping more steel than ever,” and has, as I reported in a newsletter last month, the first new aluminum smelter in the works in half a century. “So clearly those [tariffs] are going in the right direction and they’re going to stay in place.”
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California Governor Gavin Newsom, widely seen as a frontrunner for the Democratic presidential nod in two years, is already staking out an alternative energy approach to Trump. During a stop in London on his tour of Europe, Newsom this week signed onto a new pact with British Energy Secretary Ed Miliband, pledging to work together with the United Kingdom on deploying more clean energy technologies such as offshore wind in the nation’s most populous state. One of the biggest winners of the deal, according to Politico, is Octopus Energy, the biggest British energy supplier, which is looking to enter the California market. But the agreement also sets the stage for more joint atmospheric research between California and the U.K. “California is the best place in America to invest in a clean economy because we set clear goals and we deliver,” Newsom said. “Today, we deepened our partnership with the United Kingdom on climate action and welcomed nearly a billion dollars in clean tech investment from Octopus Energy.”
France, meanwhile, is realigning its energy plan for the next nine years in a way the Trump administration will like. The draft version of the plan released last year called for 90 gigawatts of installed solar capacity by 2035. But the latest plan published last week reduced the target to a range of 55 to 80 gigawatts. Onshore wind falls to 35 to 40 gigawatts from 40 to 45 gigawatts. Offshore wind drops to 15 gigawatts from 18 gigawatts. Instead, Renewables Now reported, the country is betting on a nuclear revival.
When Democrats unseated two Republicans on Georgia’s five-member Public Service Commission, the upsets signaled a change to the state’s utility regulator so big one expert described it to Heatmap’s Emily Pontecorvo at the time as “seismic.” Now one of the three remaining Republicans on the body is stepping aside in this year’s election. In a lengthy post on X, Tricia Pridemore said she would end her eight-year tenure on the commission by opting out of reelection. “I have consistently championed common-sense, America First policies that prioritize energy independence, grid reliability, and practical solutions over partisan rhetoric,” wrote Pridemore, who both championed the nuclear expansion at Georgia Power’s Plant Vogtle and pushed for more natural gas generation. “These efforts have laid the foundation for job creation, national security, and opportunity across our state. By emphasizing results over rhetoric, we have positioned Georgia as a leader in affordability, reliability, and forward-thinking energy planning.”
BHP, the world’s most valuable mining company, reported a nearly 30% spike in net profits for the first half of this year thanks to soaring demand for copper. The Australian giant’s chief executive, Mike Henry, said the earnings marked a “milestone” as copper contributed the largest share of its profit for the first time, accounting for 51% of income before interest, tax, depreciation, and amortization. The company also signed a $4.3 billion deal with Canada’s Wheaton Precious Metals to supply silver from its Antamina mine in Peru in a deal the Financial Times called “the largest of its kind for so-called precious metals streaming, where miners make deals to sell gold or silver that is a byproduct of their main business.”
The mining companies the Trump administration is investing in, on the other hand, may have less rosy news for the market. Back in October, I told you that the U.S. was taking a stake in Trilogy Metals after approving its request to build a mining road in a remote corner of Alaska that’s largely untouched by industry. On Tuesday, the company reported a net loss of $42 million. The loss largely stemmed from what Mining.com called “the treatment of the proposed U.S. government’s investment as a derivative financial instrument” under standard American accounting rules. The accounting impact, however, had no effect on the cash the company had on hand and “is expected to resolve once applicable conditions are met.”
“It’s an environmental catastrophe.” That’s how Brett Davis, the head of a nonprofit that advocates for less pollution at Mardi Gras, referred to the waste the carnival generates each year in New Orleans. Data the city’s sanitation department gave The New York Times showed that the weekslong party produced an average of 1,123 tons of waste per year for the last decade. Reusing the plastic beads that became popular in the 1970s when manufacturing moved overseas and made cheap goods widely accessible just amounts to “recirculating toxic plastic junk no one wants,” Davis told the newspaper. Instead, he’s sold more than $1 million in more sustainable alternative items to throw during the parade, including jambalaya mix, native flower start kits, and plant-based glitter.
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A new 60-home pilot program aims to expand vehicle-to-grid charging.
When energy experts imagine the grid of the future, they often dream of millions of electric vehicles moonlighting as mobile power banks, using their hefty batteries to send electricity back to the grid when it needs a boost. But despite rapid EV adoption, this utopia has remained largely out of reach. Most vehicles don’t yet support bidirectional power flow, and most markets lack incentives for customers to feed power back to the grid in the first place.
That’s finally starting to change. While vehicle-to-grid — a.k.a. V2G — technology is still in its earliest innings, a new Massachusetts program announced on Thursday is working to make the technology something closer to commonplace. Funded by the Massachusetts Clean Energy Center, the state’s economic development agency, the initiative will install 60 bidirectional charging systems in participating residents’ homes.
The program has already begun enrolling its first participants, joining a small but growing group of V2G demonstrations across the country. But the field remains so nascent that even a 60-home project stands out. Kip Hack, who leads the distributed energy resource management company EnergyHub’s EV work, told me he very much considers it a “leading program for North America.”
The Massachusetts initiative brings together a wide variety of partners: utility companies Eversource and National Grid, EnergyHub, and technology partners Sunrun and The Mobility House, which each provide the software and device integrations needed to connect various EV models to the grid. Depending on their vehicle, eligible customers will enroll in the program through either Sunrun or The Mobility House, which will then connect them to their utility’s existing demand flexibility program, ConnectedSolutions. This decade-old initiative pays customers to reduce strain on the grid by leveraging smart thermostats, batteries, and other commercial and industrial energy systems. Now EVs will join the mix.
“They don’t actually care what the participating technology is. They only care about the output,” EnergyHub’s president, Seth Frader-Thompson told me, referring to ConnectedSolutions’ technology-agnostic design, which runs on EnergyHub’s software platform. That means the program can readily incorporate new distributed energy resources as they become available, simplifying the entire process in a way that many other regions have yet to figure out. “So when V2G technology was ready, nobody had to create a new program. You already had a program structure, an incentive structure, et cetera, that you could just have these vehicles participate in.”
Each distributed energy asset enrolled in the program can earn up to $275 per average kilowatt of grid support provided during the summer months. But customers don’t receive that payment directly from their utility. Rather Sunrun and The Mobility House set their own customer incentive structures based on that underlying $275 per kilowatt value.
Chip Silverman, Sunrun’s director of grid services and virtual power plants, told me that its customers will receive a fixed payment simply for signing up, just as the company’s stationary battery storage customers do. That gets new participants in the door — they can then earn additional performance incentives if they actually discharge power back to the grid during a demand response event. “We want to incentivize people to plug in 5:00 p.m. to 8:00 p.m. on weeknights because we want to get you to try to hit the peak events whenever possible,” Silverman told me.
The pool of qualifying vehicles remains quite limited, however. Sunrun’s system only supports the Ford F-150 Lightning, while The Mobility House’s software integrates with chargers compatible with the Kia EV9, Volvo XC90, Polestar 3, and several Nissan Leaf models. Teslas with V2G capability — which today means just the Cybertruck — are not eligible. That’s because while every other vehicle in this program places the requisite DC to AC power converter within the wall charger, Tesla installs this hardware in the car itself. While that will likely prove to be a smarter, cheaper long-term approach, for now it doesn’t align with how utilities certify and approve grid-connected equipment.
Yet even at this early stage, with limited scale and narrow eligibility requirements, Massachusetts’ early adopters are already demonstrating the technology’s value. “It has been quite hot, unseasonably hot in New England these last several weeks,” Hack told me, explaining that participants’ EV batteries have already been tapped to discharge power “more than once” since enrollment began earlier this month.
The potential for far greater impact is enormous. “The size of the battery in the car is remarkable,” Frader-Thompson told me. While a typical home battery stores around 10 to 15 kilowatt-hours of energy, an EV battery can hold on the order of 70 to 100 kilowatt-hours. “So if the vehicle is plugged in, it essentially has the ability to export the equivalent of an entire residential battery every hour during an event,” he explained.
To truly turn V2G from a promising concept into a reliable grid resource, however, utilities and grid operators will need much more data on when these batteries are available and how much power EV owners are actually willing to provide. By the end of this summer, Massachusetts’ latest experiment could offer some of the first real-world answers.
On Trump’s power pledge, America’s offshore nuclear, and Japan’s offshore wind
Current conditions: A new heat dome is spreading temperatures above 100 degrees Fahrenheit across the Central United States, from Texas north to the Dakotas • Tropical Storm Bertha made landfall over southern Louisiana with winds of up to 45 miles per hour • Tasmania is facing a cold front with freezing wind chills.

On December 8, 1953 — just eight years after the United States demonstrated the destructive power of splitting atoms in the form of a mushroom cloud over Hiroshima — then-President Dwight D. Eisenhower pledged to lead the world in harnessing fission to constructive ends. In his famed “Atoms for Peace” speech, he vowed to help other nations build nuclear power stations that he believed would bring about a new era of global prosperity built atop a foundation of abundant electricity. Under the law Congress passed the next year to lay the groundwork for a nuclear buildout, Washington didn’t make it easy for foreign countries to import American technology. Before any U.S. nuclear company can sell its wares abroad, the Senate needs to approve what’s known as a 123 Agreement, essentially a treaty in which the partner nation agrees not to use the technology for weapons proliferation. When Abu Dhabi set out to build the Arab world’s first nuclear power station, the U.S. struck a new, special 123 Agreement with the United Arab Emirates in 2009, in which the Gulf monarchy swore off ever enriching or recycling its own fuel. That deal became the gold standard for U.S. nuclear pacts — and one Washington had planned to make a requirement for any other countries in the region. Saudi Arabia, however, wasn’t happy with those restrictions, particularly as its rival Iran pressed ahead with construction of its second and third reactors at its debut Russian-made nuclear station. With the Biden administration putting up resistance, Riyadh began flaunting talks with Beijing to buy Chinese reactors, in what would mark a major entry of the People’s Republic into the nuclear export market.
All of which you needed to know to appreciate what a huge deal the latest news is. On Wednesday, The Wall Street Journal, The New York Times, and the Associated Press confirmed that Saudi Arabia had reached a deal with the Trump administration that would likely allow Riyadh to enrich and recycle its own fuel on its soil. While a formal announcement is expected this week, Secretary of State Marco Rubio already acknowledged the deal by telling reporters any such agreement would not lead to weapons proliferation. On the face of it, the deal is a major win for the U.S. over its arch adversaries. Russia dominates global nuclear exports, and is currently building the debut plants in Bangladesh, Egypt, and Turkey. China, meanwhile, has dramatically brought down the cost and time it takes to build its own domestic reactors, which are based on the leading American design, and Beijing is widely expected to make an export push in the coming years. The U.S. has managed to win deals in Eastern Europe to build Poland’s first nuclear plant. But so far, American technology has struggled to compete on both price and construction competence. A moment when Iran is firing missiles at America’s Arab allies may seem ill-suited to embarking on a civilian nuclear program, but the Atlantic Council researcher Allison Minor, who previously served as a U.S. deputy special envoy to Yemen, said the war had added urgency to brokering the Saudi-U.S. deal. “By keeping the door open for uranium enrichment inside Saudi Arabia, the nuclear deal sends a powerful message to Tehran,” she wrote in a blog post. “By securing a 123 agreement that appears to have more preferable terms than the United Arab Emirates and dozens of other U.S. partners have committed to, Riyadh also signals its role as a major global player, even if it is not among the ranks of nuclear-armed nations.”
In March, the White House organized a voluntary industry pledge in which hyperscalers and data centers developers promised to pay above and beyond the normal rate for electricity to ease the strain on Americans. On Thursday, the Trump administration plans to announce a vast expansion of the pact to include the nation’s largest utilities, Reuters reported. Utilities NextEra Energy and Duke Energy joined data center developers Equinix and Digital Realty along with roughly 200 other entities on a list of signatories The Wall Street Journal obtained.
The move comes a day after ratepayer advocates accused the Federal Energy Regulatory Commission of failing to address the cost of upgrading infrastructure in its latest order meant to ease the impacts of data centers, Utility Dive reported. Polling from Heatmap Pro has shown repeatedly that public support for data centers is collapsing.
The Colorado River’s largest reservoirs, Lake Mead and Lake Powell, hit record lows in what experts described to the Los Angeles Times this week as a “five-alarm fire.” On Tuesday, Secretary of the Interior Doug Burgum met with the governors of seven states virtually ahead of his agency’s anticipated release of a plan to cut back on water use to ease shortages. That states appear to be welcoming a federal intervention marks a break with more than a century of Western states fighting to manage their water supplies among themselves with minimal oversight from Washington. Yet “far from a brash commandeering of the system,” E&E News reported, Burgum’s plan “is effectively a kick-the-can exercise for managing the drought-riddled river that supplies water” for one in 10 Americans. “At best, the Trump administration’s plan will leave economies — from the bucolic ranches of the Rocky Mountains to the mansions of Los Angeles, the tech hub of Phoenix and the powerhouse farms along the border with Mexico — in a state of limbo, without clear rules for who will have access to vital supplies in the years to come,” reporter Annie Snider wrote. “At worst, it dares the region’s political leaders — most especially Arizona Governor Katie Hobbs, who is facing one of the country’s closest gubernatorial races in the fall — to launch a destabilizing court fight.” As former Heatmap reporter Neel Dhanesha wrote in 2023, sometimes plans can at least buy some time.
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Russia officially kicked off the global race for small modular reactors in 2019 with the launch of its first floating nuclear station, which is still pumping out power in an Arctic port today. Since then, dozens of companies have proposed small reactors on land, and a handful of startups has looked to build nuclear-propelled civilian ships. But no one has really attempted any major offshore nuclear energy projects yet. Still, the Trump administration is preparing for the potential new sector. On Wednesday, the Department of the Interior’s Marine Minerals Administration — the agency recently formed out of combining the Bureau of Ocean Energy Management with the Bureau of Safety and Environmental Enforcement — signed a memorandum of understanding with the Nuclear Regulatory Commission to “responsibly respond to industry requests” and support new technologies.
“Submerged reactor systems have been safely deployed in naval applications for decades, demonstrating their potential as a reliable source of energy in demanding marine environments,” Matt Giacona, the acting director of the Marine Minerals Administration, said in a statement. “While no commercial deployment on the Outer Continental Shelf is planned or approved at this time, it could greatly strengthen America’s energy security in the future.”
China unveiled a new set of rules for the solar industry last week that are expected to “do a good job in cutting out low-cost, outdated technology across the value chain,” according to a new report from the research division at the magazine PV Tech. The new national regulations, set to take effect on January 1, 2027, phase out weaker panels and conventional polysilicon products. “These new restrictions are very interesting as the Chinese government now sees a need to stop the oversupply, maybe coming from lowered deployment in China in the first half of the year,” Joe Hennessy, co-author of the report and analyst at PV Tech Research, told PV Tech. “This will affect the smaller producers the most, as they are less likely to have upgraded lines during the period of losses.” Larger solar manufacturers are already producing panels with efficiency rates of up to 24%, the report found.
This is a story I’m planning to keep a close eye on, given the forthcoming results of the Department of Commerce’s 232 investigation into whether domestic U.S. producers of polysilicon need new tariffs to protect them against Chinese imports. My best-placed sources say the agency is on track to release its findings by next month, though others close to the process say the 74-day government shutdown could give the administration until early September to meet its legal deadlines.”
Koloma, the startup seeking to tap into naturally occurring hydrogen deposits, has a third exploration deal in the Philippines. On Thursday, Heatmap editorial fellow Ameya Hadap broke news that the company has inked an agreement for exclusive rights to a roughly 817-square-mile area of Luzon’s Zambales Province. The Colorado-based firm now has the rights to more than 1,600 square miles of the country.
The deal, shared exclusively with Heatmap, is the startup’s third in the oil-importing country.
Hydrogen fuel comes in myriad forms. There’s green hydrogen, which is extracted from water molecules using zero-carbon electricity. There’s blue hydrogen, derived from methane and scrubbed clean by carbon capture. And then there’s white hydrogen. Otherwise known as natural or geologic hydrogen, this type of hydrogen comes directly from naturally occurring deposits in the earth, can accumulate in considerable quantities and concentrations, and is highly energy-efficient to extract compared to manufacturing pathways such as electrolyzers and steam methane reforming.
It’s a seductive promise, but finding deposits with enough hydrogen to make the economics of exploration work is difficult. That’s where Koloma comes in. The startup uses a bespoke subsurface data set, which its founders developed over 20-plus years, to flag the areas most likely to hold sufficient hydrogen, after which they can extract it for power and derivative fuels.
On Thursday, the startup announced its latest exploration deal, its third in the Philippines, which will give it exclusive rights to a roughly 817-square-mile area in western Zambales Province on the island of Luzon. Altogether, the company now has rights to explore more than 1,600 square miles of the island.
The Philippines until recently imported 98% of its oil from the Middle East. Since the onset of the U.S. and Israel-led war in Iran and the subsequent closure of the Strait of Hormuz, the country’s responses have included declaring an energy emergency, imposing a four-day workweek, tripling solar panel imports from China, and even planning to dust off the Bataan Nuclear Power Plant, which has sat idle since 1986.
The country also sits between three active tectonic plates, which means it has a lot of young iron-rich rock formations exposed to water — exactly the conditions that continuously produce natural hydrogen.
“The Philippines is like the poster child of that,” Pete Johnson, Koloma’s CEO, told me. “The geology is very, very good.” Accordingly, the prospect of a plentiful, easy-to-tap domestic energy source has gotten Philippine policymakers excited. The government collects data on natural leaks of hydrogen from the ground to help companies like Koloma narrow their search.
In theory, once a viable deposit is discovered, extraction is straightforward. “If you drill a hole into that pressurized reservoir, the gas is going to flow by itself. It’s just like poking a hole in a balloon,” Johnson told me. Where electrolyzers need around 55 megawatt-hours of energy to produce a ton of hydrogen and gas-powered reformers need around 40 megawatt-hours, natural hydrogen extraction would take 3 megawatt-hours maximum, according to the CEO. And unlike some methods to artificially stimulate the formation of hydrogen deposits, which my colleague Katie Brigham wrote about last week, tapping into natural wells doesn’t require injecting high-pressure fluids, which keeps the structural integrity of the subsurface intact.
Koloma has no hard agreement with the Philippine government to earmark any of the hydrogen it may produce there for domestic consumption, Johnson told me. But given the difficulty of transporting the lightweight gas and the projected growth of the Philippine economy, he expects the country would be the overwhelming beneficiary of Koloma’s activities there.
Once it’s extracted, Koloma could sell the hydrogen as a primary resource (major population and industrial centers like Manila are close to exploration sites) or as a feedstock for products like ammonia and sustainable aviation fuel, which local manufacturers could then export. There may also be opportunities to sequester captured CO2, which easily bonds with the types of rock often found in natural hydrogen deposits and can in turn make the rock more reactive for hydrogen generation.
Hydrogen has figured heavily in the decarbonization and energy security plans of import-dependent East and Southeast Asian economies for a long time. As Katie explained earlier this year, it’s also a centerpiece of China’s latest five-year plan. Japan, meanwhile, has been a leader since the industry’s inception, rolling out the world’s first hydrogen strategy in 2017. The Philippines’ partnership with Koloma is a bet that there are enough hydrogen balloons under its land to put its energy plans on the same trajectory.