US utilities and hydrogen firms surge as Biden team offers nuclear path to hydrogen tax credit

Public Service Enterprise

03/01/2025 20:02

** Shares of U.S.-based nuclear utilities and hydrogen companies rise in afternoon trade
    ** Biden administration says portions of nuclear power plants will be able to receive tax
credits to produce clean hydrogen if the credits help to prevent reactors from retiring
    ** Renewable power companies Plug Power  PLUG.O  up 10.3%, Bloom Energy  BE.N  up 8.1% and
FuelCell Energy  FCEL.O  up 15.8%
    ** Utilities Constellation Energy  CEG.O  up 4.2%, NextEra Energy  NEE.N  up 1%, Public
Service Enterprise Group  PEG.N  up 1.4% and Exelon  EXC.O  up 1.1%

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com))