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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

Endesa, Iberdrola Call Off the Wedding

LCG, Feb. 6, 2001Spain's two largest electric companies, Endesa and Iberdrola, yesterday called off their 13.5 billion-euro ($12.6 billion U.S.) merger, citing strict conditions imposed by the Spanish government on Friday.

"The resolution on Friday substantially changed the framework that we had agreed on and forces us to stop pursuing the deal," Iberdrola Chairman Inigo de Oriol told reporters yesterday. "The conditions imposed by the government removed the economic and strategic sense."

Though billed as a merger, the deal would have been an acquisition by Endesa of Iberdrola. Because of fears of market dominance, the Spanish government would have required the companies to divest a significant amount of generating capacity and reduce its market share of distribution.

If the two companies had joined forces, they would have made up about 80 percent of Spain's power market. The government rulings would have limited the new company's share of the generation market to 43 percent and cut its control of distribution to 48 percent.

Cancellation of the deal leaves Iberdrola vulnerable to takeover attempts by other European power firms, according to Iberian energy experts. Matija Gergolet, an analyst at Standard and Poor's Equity Research in London, noted "Iberdrola's management has demonstrated by accepting Endesa's takeover offer that they are up for sale."

Spain has been defensive against takeover of its companies by government-controlled foreign investors but a European Commission decision last week overruled Spain's right to prevent foreign state-owned companies from entering its liberalized markets.

That is seen as an invitation to Electricit de France, Italy's Enel, RWE of Germany and others to make overtures for Iberdrola.

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