Constellation Energy Corp Supports New York Governor's Plan for a One Gigawatt Nuclear Power Plant

Strategic Insights -

Constellation Energy Corp, a major energy provider in Baltimore, Maryland, has welcomed New York Governor Kathy Hochul's decision to develop a one gigawatt nuclear power plant in Upstate New York. This move aligns with the company's goal of promoting energy independence and supply chain security. The announcement comes after Constellation and New York State submitted a grant proposal to the US Department of Energy in January 2025, seeking support for an early site permit for a reactor at the Nine Mile Point Clean Energy Center in Oswego. With three nuclear plants currently operating in New York, producing 20% of the state's energy, Constellation is optimistic about the future of nuclear power in the state, particularly in achieving the nation's leading clean energy goals.

Key Takeaways:

  • The New York Power Authority will develop a one gigawatt nuclear power plant in Upstate New York, as directed by Governor Kathy Hochul.
  • Constellation Energy Corp operates three nuclear plants in New York, which produce 20% of the state's energy.
  • The company has submitted a grant proposal to the US Department of Energy, seeking support for an early site permit for a reactor at the Nine Mile Point Clean Energy Center in Oswego.
  • Constellation Chief Legal and Policy Officer David Dardis emphasizes the essential role of nuclear power in delivering clean, reliable electricity to New Yorkers and supporting long-term grid stability and affordability.
  • The announcement highlights the importance of nuclear energy in achieving the nation's leading clean energy goals.
  • Constellation and New York State are working together to ensure nuclear energy continues to power economic growth and a clean, affordable, and reliable energy future for New York.

Statistics:

  • 20%: The share of New York's energy produced by Constellation's three nuclear plants.
  • $309.65: The closing price of Constellation's shares on Monday afternoon, up 1.6% from the previous close.
  • 43%: The 12-month change in Constellation's share price.
  • 1.6%: The increase in Constellation's share price on Monday afternoon in New York.
  • 2025: The year in which Constellation and New York State submitted a grant proposal to the US Department of Energy.

Sources:

  • Alliance News. (2025). Constellation Energy Corp: Us$309.65 - Up 43% Over Last 12 Months.
  • "Governor Hochul Directs New York Power Authority to Develop One Gigawatt Nuclear Power Plant"