Constellation Energy
CEG
Constellation Energy (CEG) operates the largest US nuclear fleet at 23 GW capacity.
Restarting Three Mile Island Unit 1 for Microsoft data center PPA announced 2024. 90% carbon-free power; market cap $70B+. Acquired Calpine in 2024.
Why it matters now
PPA deals drive 2025-2026 life extensions; largest owner benefits from uranium crunch and capacity auctions.