Google and Constellation announced a 20-year power purchase agreement covering 890 megawatts of additional nuclear capacity on the PJM grid. The capacity comes from uprating 11 reactor units Constellation already owns in Illinois, Pennsylvania and New Jersey, with the first uprate due by 2028. The two also signed a separate 15-year supply agreement for a further 2,700 MW from Constellation's existing fleet, and a five-year technology alliance under which Constellation uses Google Cloud and Gemini Enterprise.
Why it matters for listed companies
The money: Constellation puts more than $4.3 billion into the uprates, backed by a 20-year contracted buyer, and Google secures 3,590 MW in total across the two agreements; the price of the power was not disclosed. For Alphabet this is a long-dated operating cost taken on to run data centres; the release cites demand from digital infrastructure alongside manufacturing and electrification. Suppliers of turbines, steam generators and control systems get the uprate work. The deal adds to the contracts that large cloud companies have signed with nuclear operators to lock in supply.
Euro in US dollars 1.1269 → 1.1208-0.0061 06 Oct 2026 → 15 Oct 2026 · ECB reference rate
These figures are measured, not attributed. Prices and rates move for many reasons at once; they show
what happened after this story, not that the story caused it. Nothing here is a recommendation to buy, sell or hold.
Federal credit lowers Vistra's cost of financing work that it would otherwise fund in the bond market, where yields are at 24-year highs. The plants sell into PJM, the grid where data-centre demand has pushed up power…
The advance was narrow: the report notes only about 25% of S&P 500 companies were trading above their 50-day average, and smaller companies fell on the day. Index gains are coming from AI chipmakers and from power…
Information Technology · Utilities · Health CareYahoo Finance ↗
The finance angle is the cost of permission to build. $1 billion over five years is small beside the capital Amazon spends on AI infrastructure, but the $68 billion of blocked projects shows where the constraint now…
Information Technology · Utilities · Real EstateCBS News ↗
The 2024 standards would have required owners of coal plants and new gas plants to fit carbon controls or retire units. Removing them changes capital plans at listed utilities and independent power producers with coal…