On June 12, Constellation Energy Corp rose 3.05% in regular trading, trading at $251.185/share, with turnover of $46.381 million. Multiple positive catalysts converged to drive the stock higher after recent selling pressure from an 11 million share secondary offering by selling shareholders.
On the news front, the Federal Energy Regulatory Commission (FERC) approved Constellation Energy's waiver from PJM interconnection grid rules, advancing the restart of its Crane Nuclear Station (formerly Three Mile Island Unit 1). The ruling allows the company to transfer 760 megawatts of capacity interconnection rights from its Eddystone plant to the Crane unit, increasing power delivery to the grid ahead of transmission upgrades expected by late 2030. Constellation has invested $1.6 billion in restarting the 835MW unit and has secured a 20-year agreement with Microsoft to supply all power, capacity, and clean energy attributes for data center operations.
Additionally, the company's Calpine subsidiary announced the Geysers geothermal complex completed a 25MW expansion now in commercial operation, capable of supplying clean electricity to over 25,000 homes annually.
Within the Electric Utilities sector, NextEra up 0.88%, Duke up 0.77%, Southern up 0.76%, American Electric Power up 0.35%, Oklo Inc. down 1.04%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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