NYPSC Approves Constellation Energy's Acquisition of Calpine Corporation
A close up of a wind turbine producing electricity as the sun sets.
The agreement is expected to be finalized in Q4 2025, subject to clearances from the Department of Justice and the Federal Energy Regulatory Commission. This significant regulatory milestone comes after the Public Utilities Commission of Texas already approved the deal.
The deal will create a coast-to-coast power platform by combining Calpine's portfolio of low-emission natural gas and geothermal assets with the Constellation Energy Corporation (NASDAQ:CEG) fleet of nuclear reactors that emit no emissions. Joe Dominguez, CEO of Constellation Energy Corporation (NASDAQ:CEG), noted the strategic significance of the agreement in improving grid sustainability and stability while meeting increasing power demands, especially those from artificial intelligence.
Constellation Energy Corporation (NASDAQ:CEG), which has its headquarters in Baltimore, is the biggest maker of emissions-free energy in the United States and a significant energy provider to residential, commercial, and public sector customers, including 75% of Fortune 100 businesses. The firm's objectives of operational excellence and national energy leadership are in line with the merger.
While we acknowledge the potential of CEG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025.
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