Latest news with #ConstellationEnergy
Yahoo
2 days ago
- Business
- Yahoo
NYPSC Approves Constellation Energy's Acquisition of Calpine Corporation
Constellation Energy Corporation (NASDAQ:CEG) is among the 13 Best Electrical Infrastructure Stocks to Invest In. The New York State Public Service Commission has approved the acquisition of Calpine Corporation by Constellation Energy Corporation (NASDAQ:CEG). 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. Disclosure. None.
Technical.ly
2 days ago
- Business
- Technical.ly
Map: Where PA's $90B AI and energy money is going — and what doesn't match up
Some of the headline-grabbing investments announced at this month's Energy and Innovation Summit in Pittsburgh don't match what companies have actually pledged. National energy and tech CEOs joined Sen. Dave McCormick and other elected officials at Carnegie Mellon University on July 15 to announce more than $90 billion for various data center and energy generation projects. While many executives at the summit credited the Trump administration for paving the way for these investments, reporting from WESA found that several of the Pennsylvania-based projects were already underway before the second Trump administration began in January. A deeper dive into the full list of investments released by McCormick's office reveals that some of those figures do not align with the pledges companies actually made in their own announcements, either. For example, the release from McCormick's office says Constellation Energy will spend $2.4 billion to increase power generation at the Limerick nuclear power plant, but the company would not confirm that amount. McCormick's office did not respond to request for comment. That's just one of the discrepancies that found. Keep reading for a breakdown of the pledges made at the summit and where those investments currently stand.
Yahoo
5 days ago
- Business
- Yahoo
FERC approves $16.4B Constellation-Calpine deal
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. The Federal Energy Regulatory Commission Wednesday approved Constellation Energy's proposal to buy Calpine from Energy Capital Partners in a deal valued at $16.4 billion, subject to conditions aimed at reducing the expanded company's ability to exert market power. With a proposed mitigation plan in place — which includes Constellation selling five power plants in the PJM Interconnection — 'the proposed transaction will not have an adverse effect on competition,' FERC said. An agreement between Constellation and Monitoring Analytics, PJM's market monitor, imposes offer caps in the PJM capacity market on all of the independent power producer's power plants selling into the PJM market through the 2035-36 delivery year, FERC said. Although Constellation agreed not to enter into colocation data center deals until mid-2026 or until FERC issues an order clarifying PJM's rules on the issue, Jefferies equity analysts said Thursday that the company will be free to enter into above-market data center transactions under the approved conditions. In its decision, FERC dismissed arguments from Public Citizen, PennFuture and the Clean Air Council that Constellation could withdraw its nuclear capacity from the market to sell power directly to data centers, saying there was no evidence that would happen. As part of the plan, Constellation will sell four power plants in the PJM Interconnection totaling 3,546 MW. They are the: 1,134-MW gas-fired combined cycle Bethlehem Energy Center; the 569-MW dual-fuel combined cycle York Energy Center Unit 1; the 1,136-MW dual-fuel combined cycle Hay Road Energy Center; and the 707-MW, gas-fired simple cycle Edge Moor Energy Center. In its agreement with PJM's market monitor, Constellation agreed not to sell any of the power plants to Dominion Energy and American Electric Power, which own the most capacity in PJM. FERC rejected concerns raised by the Monitoring Analytics that PJM's capacity market is structurally uncompetitive and that consolidation of power plant owners makes market power problems worse. PJM has rules to mitigate the ability of power plant owners to drive up capacity prices using their market power, FERC said. The U.S. Department of Justice must approve the transaction before it can close, which Constellation expects will happen in the fourth quarter. Under the deal, Constellation will own almost 60 GW of nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration and battery storage. Calpine currently owns 27 GW. Recommended Reading Ratepayer advocates urge FERC to reject proposed Constellation-Calpine deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Constellation Energy Corporation (CEG): A Bull Case Theory
We came across a bullish thesis on Constellation Energy Corporation on Stock Analysis Compilation's Substack. In this article, we will summarize the bulls' thesis on CEG. Constellation Energy Corporation's share was trading at $317.88 as of July 21st. CEG's trailing and forward P/E were 33.50 and 33.11, respectively according to Yahoo Finance. Copyright: vencavolrab78 / 123RF Stock Photo Constellation Energy (CEG), spun out of Exelon Energy in January 2022, is the largest independent power producer in the U.S., operating over 55% of the nation's unregulated nuclear capacity and delivering more than 180TWh of carbon-free electricity annually, avoiding approximately 120 million metric tons of CO2 emissions. In the June quarter, CEG signed a 20-year virtual power purchase agreement with Meta, its second major deal with a technology giant, to supply 1.1GW of nuclear power from its Clinton Plant in Illinois starting in 2027. Though market attention focused on pricing—estimated at $80–90/MWh and below the economics of behind-the-meter deals—the strategic value lies in CEG's ability to secure long-term contracts across its fleet, which currently earns just under $45/MWh through Inflation Reduction Act production tax credits. Each incremental 1GW contracted at $90/MWh could lift earnings per share by about $0.85 against Bloomberg's 2025 consensus EPS of $9.41. Meta's willingness to pay roughly twice the spot power price highlights nuclear's premium for reliable, carbon-free baseload generation, even without the cost benefits of co-located infrastructure. CEG is also enhancing capacity through 30MW of uprates and exploring the deployment of small modular reactors (SMRs), leveraging the land value of its existing nuclear sites in receptive communities. The Meta contract reinforces CEG's position as the leading supplier of clean, reliable power, underpinned by a fleet with significant potential to drive earnings growth through long-term contracts, capacity upgrades, and SMR development, offering a compelling structural opportunity in the transition to carbon-free energy Previously, we covered a on Constellation Energy Corporation (CEG) by jackandjillonthehill in March 2025, which highlighted margin expansion from rising electricity prices, fast start pricing, and AI-driven demand for reliable nuclear power. The stock has appreciated about 45% since then as these drivers played out. Stock Analysis Compilation shares a similar view but emphasizes CEG's earnings growth through long-term contracts with Meta. Constellation Energy Corporation is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 83 hedge fund portfolios held CEG at the end of the first quarter which was 85 in the previous quarter. 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: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 days ago
- Business
- Reuters
Constellation Energy receives nod from FERC for Calpine acquisition
July 24 (Reuters) - Utility company Constellation Energy (CEG.O), opens new tab said on Thursday it has received a regulatory approval from the Federal Energy Regulatory Commission (FERC) for its previously announced $16.4 billion acquisition of Calpine Corporation. This approval represents a step forward in the transaction following earlier approvals by the New York Public Service Commission and the Public Utility Commission of Texas, the company said.
