Stock Track | Constellation Energy Soars 7% as Hopes Rise for Power Plant-Data Center Deals

Stock Track11-22

Constellation Energy Corp (CEG) shares soared 7.06% in Thursday's trading session, outperforming the broader market. The rally comes after fellow power producer Talen Energy requested a rehearing from the Federal Energy Regulatory Commission (FERC) regarding its rejected interconnection agreement to supply more electricity to an Amazon data center.

Earlier this month, FERC struck down Talen Energy's deal to increase the capacity of the Amazon data center beyond 300 MW, dealing a blow to independent power generators hoping to strike similar agreements to connect their plants directly to large data centers operated by major tech firms. The regulator sided with regulated utilities that had challenged the interconnection pact.

However, Talen Energy's rehearing request has revived investor optimism around the prospect of such power plant-data center deals. In its filing, the company accused FERC of erroneously rejecting the privately negotiated agreement, "damaging U.S. economic and national security interests" in the process. The development lifted shares of other independent power producers like Vistra Energy, which gained 7.7% on the session.

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The rally comes after fellow power producer Talen Energy requested a rehearing from the Federal Energy Regulatory Commission (FERC) regarding its rejected interconnection agreement to supply more electricity to an Amazon data center.</p>\n\n<p>Earlier this month, FERC struck down Talen Energy's deal to increase the capacity of the Amazon data center beyond 300 MW, dealing a blow to independent power generators hoping to strike similar agreements to connect their plants directly to large data centers operated by major tech firms. The regulator sided with regulated utilities that had challenged the interconnection pact.</p>\n\n<p>However, Talen Energy's rehearing request has revived investor optimism around the prospect of such power plant-data center deals. In its filing, the company accused FERC of erroneously rejecting the privately negotiated agreement, \"damaging U.S. economic and national security interests\" in the process. 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