Nuclear power firms drop after US regulators block Amazon-Talen agreement

Public Service Enterprise

04/11/2024 19:58

** Shares of nuclear power cos slide on Mon after energy
regulators rejected agreement between Amazon.com  AMZN.O  and
Talen Energy  TLN.O  to use more nuclear energy to meet surging
electricity demand from a data center
    ** Late Fri, Federal Energy Regulatory Commission (FERC)
said deal to increase capacity of the internet retail giant's
data center located on the site of Talen's Susquehanna nuclear
generating facility could raise power bills for the public and
affect the grid's reliability
** Shares of Constellation Energy  CEG.O , which plans to
restart Pennsylvania's Three Mile Island power plant to sell
electricity to Microsoft  MSFT.O , dive 11% despite Q3 profit
beat and forecast raise
    ** Other nuclear-heavy power cos drop on the session: Vistra
 VST.N  3%, NuScale Power  SMR.N  >2%, Public Service Enterprise
 PEG.N  >6%, Nano Nuclear Energy  NNE.O  11%
** Centrus Energy  LEU.N  tumbles >25% after announcing $350 mln
convertible debt deal
** Sam Altman-backed Oklo's  OKLO.N  stock down 6% on Mon,
falling for fourth straight day, after soaring to record highs
recently

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com lance.tupper@tr.com
1-646-279-6380))