Form 10-Q · Quarterly report
Constellation Energy 10-Q, filed Aug 6, 2026
- Filed
- CIK
- 0001868275
- Accession no.
- 0001868275-26-000104
Summary
Constellation Energy closed its acquisition of Calpine on January 7, 2026 for approximately $21.8 billion, adding about 23 GW of largely natural gas, geothermal, battery storage, and solar capacity, and agreed to sell five PJM natural gas plants (about 4.4 GW) plus the 606 MW Brazos Valley Energy Center in ERCOT to LS Power to satisfy regulatory commitments. Constellation also signed a 380 MW data-center power agreement with CyrusOne at its Freestone Energy Center in Texas and an additional 920 MW of 15–20 year nuclear power purchase agreements starting in 2029–2032, while FERC accepted PJM tariff revisions extending the capacity market price collar and pressed PJM to accommodate co-located load ahead of its proposed June 2029 effective date.
Key points
- Constellation acquired Calpine on January 7, 2026 for about $21.8 billion, paid with 50 million newly issued shares and roughly $4.5 billion in cash.
- Constellation agreed to sell five PJM natural gas-fired plants totaling about 4.4 GW to LS Power for $5.0 billion and the 606 MW Brazos Valley Energy Center in ERCOT for $860 million, with closings expected by the end of 2026.
- Constellation signed a 380 MW agreement with CyrusOne for a new data center adjacent to the Freestone Energy Center in Freestone County, Texas, plus an exclusive Phase 2 agreement for another 380 MW.
- Constellation signed an additional 920 MW of long-term nuclear PPAs of 15–20 years beginning 2029 through 2032, including a 176 MW agreement with Walmart tied to a 30 MW expansion at the Dresden Clean Energy Center in Illinois.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. MANAGEMENT’S DISCUSSION Executive Overview Constellation Energy Corporation, a Fortune 200 company headquartered in Baltimore, is the largest private-sector power producer in the world and the nation’s largest producer of clean and reliable energy. With 55 gigawatts of capacity from nuclear, natural gas, oil, geothermal, hydro, wind and solar facilities, our fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy and delivering the around-the-clock reliability needed to power America’s growing economy. We are also the largest nuclear energy company in the U.S. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.