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Constellation Energy Pre-Market Gain Tops 5% on Google Nuclear Power Deal

Constellation Energy shares rose more than 5% in pre-market trading after Google signed a 20-year power purchase agreement with the company. The deal adds 890 megawatts of reliable nuclear capacity to the PJM interconnection grid, is expected to create about 7,200 jobs and involves $4.3 billion in investment.

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AI take

The significance lies less in the headline number than in the structure: a 20-year PPA ties a hyperscaler's power demand to existing nuclear capacity rather than to new-build or intermittent renewables, and the PJM interconnection is where data-centre load growth is already straining supply. That template matters for other baseload operators and for how tech firms contract for firm, carbon-free power. Whether similar long-dated nuclear offtakes follow — and how PJM prices the added capacity — is the open question.

Generated by AI for reference only.

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