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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

Dynegy to Buy Enron; No Job for Lay

LCG, Nov. 12, 2001--Enron Corp. agreed on Friday to be bought out by the much smaller Dynegy Inc. for about $9 billion in stock, and that fire sale price of around $10.41 a share reflects a fat premium over Enron's Friday closing price of $8.63 on the New York Stock Exchange.

ChevronTexaco Corp., which owns a 27 percent interest in Dynegy, will provide $2.5 billion in new equity in Dynegy to back the deal, the companies said.

Enron chief executive Kenneth Lay said the move was agreed to reluctantly. He had hoped his company, which he helped build from a mid-level natural gas pipeline into a corporate powerhouse, could find its own way out of its problems, but said the daily doses of negative news proved too much.

"It has been a fairly consistent barrage of really negative articles and it's been very tough to beat those back," said Lay, who will not have a role in management of the combined companies.

Enron's reported revenues of $100 billion for the year 2000 dwarf Dynegy's reported $29 billion, but the smaller company may be using money with more substance, and Enron's figures could more accurately reflect trading volume and not sales of something it owned.

Enron earned only $1 billion in 2000 -- a paltry one cent on the dollar of what it reported as revenues. Dynegy earned a half-billion, a return of 1.7 percent.

Chuck Watson, chairman and chief executive of Dynegy, said Enron was subjected to the most searching scrutiny before the offer was made. "We looked under the hood and guess what? It's just as strong as we thought it was," he said.

Enron was riding high earlier in the year, with its stock trading in the low $80s, but revelations about mysterious partnerships and "off-balance-sheet" transactions sent it into a power dive from which it never recovered.

"Off-balance-sheet financing is a nice, gentlemanly label given to misrepresentation," said Shyam Sunder, a Yale University accounting professor.

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