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Constellation and Google Announce Strategic Collaboration that Includes 890 MW of New Nuclear Capacity to PJM Grid

LCG, October 6, 2026--Google and Constellation Energy today announced a long-term strategic clean energy collaboration to bring 890 MW of new, reliable, carbon-free nuclear capacity onto the PJM Interconnection grid to meet growing demand and increase grid reliability. The first uprate is expected to be delivered by 2028.

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Department of Energy Announces $4.2 Billion Investment to Boost Nuclear Power in Pennsylvania and Ohio

LCG, October 5, 2026--The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) today announced a conditional loan commitment of up to $4.2 billion to finance nuclear uprates and modernization across Vistra’s nuclear fleet in Pennsylvania and Ohio. The projects are expected to preserve nearly 4 GW of carbon-free, baseload power and add 433 MW of new nuclear capacity that will support the growing electricity demand across the PJM region.

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Industry News

Hidrocantábrico Ousts TXU’s Turberville

LCG, July 13, 2000--Phil Turberville, chief executive of TXU Corp.s TXU Europe unit, has been removed from the permanent committee responsible for the day-to-day operations of Spains fourth-largest electric generation company, Hidroelctrica del Cantbrico.

The action by Hidrocantbricos board, of which Turberville remains a member, is in response to suspected collusion between TXU Europe and Belgian electricity distributor Electrabel in acquisition of 15 percent of Hidrocantbrico's shares last week, circumventing Spain's takeover code which requires any accumulation of 25 percent or more of a companys shares to proceed to full takeover.

In March, TXU owned 5 percent of Hidrocantbrico when it launched a takeover bid. It doubled its stake to 10 percent and subsequently added another 3.94 percent, bringing its ownership in the Spanish company to 13.94 percent.

Last week, TXU added another 5.26 percent stake in Hidrocantbrico, bringing its interest to 19.2 percent, still well short of the mark that would trigger a full takeover. At the same time, and at the same price, Electrabel bought a 10 percent interest in Hidrocantbrico, and Turberville was alleged to have held talks with Electrabel officials.

TXU denied any irregularities, saying "The only relationship we have had with Electrabel is an agreement that if they are forced to sell their Hidrocantbrico shares, by competition authorities, we would have an option to purchase them."

Electrabel also denied that the company was acting in concert with TXU in order to take control of Hidrocantbrico.

The twin deals are being investigated by Spanish stock market regulators, a move endorsed by the Hidrocantbrico board.

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