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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

Mirant Debt Exchange Said to Have Significant Backing

LCG, June 30, 2003--Mirant Corp., which has so far narrowly avoided seeking bankruptcy due to liquidity problems, has said that an offer to bondholders to exchange unsecured bonds for secured bonds has the support of two-thirds of those holding the merchant power developer's debt.

The company stated that it believes it can gain the 85 percent support needed to go ahead with the restructuring, based on the support it says was indicated by an informal committee of bondholders. The secured bonds would mature in 2008, two years later than current bonds. Mirant has told banks that they would have equal priority with bondholders as concerns as much as $1.1 billion in claims.

Mirant has $8.9 billion worth of outstanding debt, and has a payment of $1.125 due next month. In order to increase the chances that its current offer will be accepted, it has included provisions for cash payouts, higher interest rates, and warrants for stock purchases.
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