Constellation‘s Calpine Deal Clears Texas Regulatory Review

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Constellation has received regulatory approval from the Public Utility Commission of Texas (PUCT) for its acquisition of Calpine Corporation, marking a significant step in its strategy to create a leading clean energy provider in the U.S. This merger aims to combine Constellation's extensive zero-emissions nuclear fleet with Calpine's low-emission natural gas and geothermal assets, establishing a coast-to-coast energy company that can meet the increasing demand for sustainable power.

Joe Dominguez, president and CEO of Constellation, emphasized that this approval brings them closer to building a premier platform for reliable and clean energy, particularly in high-demand markets like Texas. The transaction is still pending clearance from several regulatory bodies, including the New York State Public Service Commission and the Federal Energy Regulatory Commission, with an expected closing date in the fourth quarter of 2025.