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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

Williams Has Deal With Buffett and Banks

LCG, Aug. 1, 2002--An agreement between troubled William Cos. Inc., investor-billionaire Warren buffett and Lehman Brothers to sell oil and gas assets it bought only last year allows Williams to increase its total borrowing capability and improve its cash situation.

Buffett's Berkshire Hathaway Inc. and Lehman Brothers provided a $900 million senior secured credit agreement (senior being a higher level of obligation than junior). In return, MidAmerican Energy Holdings, under Berkshire Hathaway, receives preferred stock in Williams. Hugh Welton, a senior director at Fitch Ratings, a credit-rating agency, said, "it's pretty spectacular the amount of stuff they've done in a week, though it's been at the expense of selling some good assets that have contributed to their earnings profile."

Aside from the Buffet-Lehman Brothers deal, $1.1 billion of credit was secured through an existing line of $700 million, plus $400 million in new credit. Some of the other asset sales made by Williams included a $350 million sale of Wyoming natural gas assets to Encana Corp., and nearly all of its gas-related holdings in the Anadarko basin to Chesapeake Exploration LP, for $37.5 million.

Other energy companies have been worried at what was the very real prospect of a credit default this week by Williams, which would have contributed to a more dismal outlook for those companies already trying to improve fallen credit ratings. Dynegy this week sold its Northern Natural Gas pipeline to Buffett for $928 million.
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