Constellation is the largest US nuclear operator and the marquee beneficiary of hyperscaler demand for clean baseload power, with the Microsoft Three Mile Island restart deal at premium pricing setting the comp for the entire fleet. Calpine acquisition pending creates the largest US clean power platform with combined nuclear and gas peaker assets. Power prices in PJM/NYISO surging. Earnings power has stepped up materially.
Signals scoped to US · Company-specific tagging coming soon.