Utilities Shares Gain on Data Center Hope

Dow Jones06:06

Shares of power producers rose on renewed optimism over data centers after disappointing results in midterm elections last week.

NRG Energy said it will sell $4 billion worth of power-generation assets, a move that will allow the company to pay down debt and buy back more stock. The announcement came as the electricity provider reported higher profit and revenue in the recent quarter, fueled by what Chief Executive Robert Gaudette called a substantial generation business producing steady earnings. NRG Energy on Monday said it has agreed to sell six natural-gas fired generation assets totaling 4.9 gigawatts to LS Power for $4 billion in cash. The transaction is expected to close in the second quarter of 2027, subject to customary conditions.

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