Calpine said it will sell four power plants in PJM in an effort to allay concerns that Constellation Energy's plan to buy the company could use its market power to affect power prices.

Calpine plans to sell four “valuable” power plants in the PJM Interconnection’s eastern region through a solicitation process, the company told FERC.

Jeff Gustavson said Chevron plans to build natural gas power plants that will be directly connected to data centers used by technology companies for AI.

PJM Interconnection and Pennsylvania Governor Josh Shapiro have settled a lawsuit over PJM’s capacity market pricing, agreeing to lower the grid operator’s auction price cap from over $500/MW-day to $325/MW-day.

The wider adoption of AI models like the one developed by DeepSeek, which it says it built in under two months and is cheaper than models currently used by U.S. companies, could result in less electricity demand overall and result in a smaller power build-out, analysts and economists said.

In a world where private equity is struggling to return cash to investors, the $16.4 billion sale of Calpine Corp to Constellation Energy shines like a rare diamond in the rough, sparking hopes for a resurgence of mega-exits.

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Constellation Energy to buy Calpine in blockbuster $16.4 billion ... to an Amazon data center located on the site of Talen's Pennsylvania nuclear plant, according to a filing on Thursday.

Facing a projected surge in power demand across the country, NextEra Energy is taking steps to potentially restart its shuttered 615-MW Duane Arnold nuclear plant in Iowa as early as 2028, while also signing a new partnership with GE Vernova to develop natural gas generation projects that could be paired with renewable energy and storage.

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