Constellation Energy, nuclear stocks plummet after regulators block Amazon power deal

Laura Bratton, Tue, November 5, 2024 , https://finance.yahoo.com/news/constellation-energy-nuclear-stocks-plummet-after-regulators-block-amazon-power-deal-151109123.html

Constellation Energy stock (CEG) fell 12.5% Monday amid a broader decline in nuclear power stocks following the US government’s rejection of another Big Tech nuclear power agreement late Friday.

The Federal Energy Regulatory Commission (FERC) rejected a proposal from a grid operator, PJM, to ramp up the amount of power supplied through the grid from Talen Energy (TLN) to an Amazon (AMZN) artificial intelligence data center. Talen said in a statement on Sunday it believes the FERC “erred” in its ruling, adding the company is “evaluating our options, with a focus on commercial solutions.”

November 6, 2024 - Posted by Christina Macpherson | Uncategorized

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