Stock Track | NANO Nuclear Energy Plunges 13.5% After FERC Rejects Nuclear Plant Deal

Stock Track11-05

Shares of NANO Nuclear Energy Inc (NNE) plummeted 13.5% on Monday after the Federal Energy Regulatory Commission (FERC) rejected an amended interconnection service agreement between a nuclear power plant and an Amazon data center in Pennsylvania.

The regulatory setback dealt a blow to the nuclear energy sector, with NNE and several other nuclear power companies witnessing sharp declines in their stock prices. Talen Energy (TLN), whose nuclear plant was involved in the rejected agreement, saw its shares drop 2.2%. Centrus (LEU) and Constellation Energy (CEG), which supply power to data centers, fell 28.8% and 12.5% respectively.

The FERC's decision to reject the interconnection agreement between the nuclear plant and Amazon's data center operations raised concerns about the potential impact on future power supply deals for the industry. Analysts had anticipated that the nuclear energy sector would benefit from the growing demand for reliable and carbon-free energy sources from data centers and other large-scale consumers.

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