Constellation Energy's Entire PJM Fleet Clears 2028-2029 Capacity Auction at $325/MW-Day
CEG is trading near its 52-week low of $228.63 (13% above the low).
Summary
Constellation Energy's entire PJM fleet cleared the 2028-2029 capacity auction at $325/MW-day, locking in 18,875 MW of capacity revenues and strengthening long-term earnings visibility.
Key Events · Earnings and Guidance · CEG
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Full Fleet Clears Auction
All of Constellation's PJM power plants cleared the 2028-2029 capacity auction, securing 18,875 MW at $325 per megawatt-day.
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Revenue Visibility Through 2029
The auction results lock in capacity revenues starting June 1, 2028, providing a predictable income stream for nearly two years.
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Nuclear PTC Boost
Capacity revenues from nuclear units are included in the gross receipts calculation for the Production Tax Credit, enhancing the value of the company's nuclear fleet.
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Competitive Strength Demonstrated
Clearing the entire fleet in a competitive auction highlights Constellation's cost advantages and reliability, reinforcing its market position.
Analysis · CEG · Energy & Transportation
A major revenue milestone was reached as every one of Constellation Energy's power plants in the PJM market cleared the 2028-2029 capacity auction at $325 per megawatt-day, securing a total of 18,875 MW. This outcome locks in a substantial, predictable income stream beginning June 2028, while also boosting Production Tax Credit receipts through the inclusion of nuclear capacity revenues in the gross receipts calculation. The clean sweep highlights the company's competitive edge and provides long-term earnings visibility, even though the financial benefits won't materialize for nearly two years.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 29% of the 1653 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CEG was trading at $259.30 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $92.1B. The 52-week trading range was $228.63 to $412.70. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.