Dominguez says long-term hyperscaler customer commitments drive nuclear investment and the DOE conditional loan will let Constellation move faster and add more reliable power.
Our agreements with Google and Amazon demonstrate how long-term customer commitments can incentivise billions of dollars in investment in new, reliable nuclear capacity. This conditional loan commitment can help us move faster and go further, putting more reliable power on the grid, creating and preserving good-paying jobs, strengthening American energy security and helping families and businesses manage energy costs.
Joe Dominguez said the conditional DOE loan commitment could help Constellation move faster, add reliable grid power and strengthen energy security.
Chairman, President and Chief Executive Officer Joe Dominguez said the conditional commitment could help the company move faster, add reliable power to the grid and strengthen energy security.
Dominguez says the conditional DOE loan will speed up uprates, adding reliable power, jobs, energy security and cost relief.
This conditional loan commitment can help us move faster and go further, putting more reliable power on the grid, creating and preserving good-paying jobs, strengthening American energy security, and helping families and businesses manage energy costs.
Dominguez says pairing private demand and investment with federal financing to uprate existing nuclear plants is how the US wins the energy abundance race.
This is exactly how America wins the race for energy abundance — by sensibly combining private-sector demand and investment with federal government financing to unlock greater potential from existing nuclear plants.
Original (zh)
這正是美國贏得能源富足競賽的方式——將私營部門的需求和投資與聯邦政府融資明智地結合在一起，釋放現有核電廠的更大潛力。
Dominguez says combining private demand and investment with federal financing to uprate existing nuclear plants is how the US will win the energy abundance race.
This is how America wins the energy abundance race — by sensibly combining private-sector demand and investment with federal financing to unlock greater potential from existing nuclear plants.
Original (zh)
这正是美国赢得能源富足竞赛的方式——将私营部门的需求和投资与联邦政府融资明智地结合在一起，释放现有核电厂的更大潜力。
Dominguez said long-term customer commitments from Google and Amazon spur nuclear investment, and the DOE loan will speed uprates, add reliable power, and support jobs and energy security.
Our agreements with Google and Amazon demonstrate how long-term customer commitments can incentivize billions of dollars in investment in new, reliable nuclear capacity. This conditional loan commitment can help us move faster and go further, putting more reliable power on the grid, creating and preserving good-paying jobs, strengthening American energy security and helping families and businesses manage energy costs.
Dominguez says pairing private-sector demand with federal financing is how the US wins the energy abundance race, unlocking more power from existing nuclear plants, with long-term customer deals driving billions in investment.
"This is how America wins the race for energy abundance – by pairing private-sector demand and investment with smart federal financing to unlock more power from the nuclear plants we already have," said Joe Dominguez, Constellation chairman, president and CEO. "Our agreements with Google and Amazon demonstrate how long-term customer commitments can incentivize billions of dollars in investment in new, reliable nuclear capacity.
Dominguez says preserving and expanding existing nuclear output and building new clean generation is critical to meeting growing US energy demand at affordable cost.
Preserving and expanding the output of the existing nuclear fleet and developing new clean generation is critical to meeting our nation’s growing energy needs while keeping costs affordable for homes and businesses
Dominguez argues the grid's problem is a few peak hours, not overall energy supply, so stranded capacity can be used for data centers.
We have plenty of unused capacity in generation and in the wires grid over 99% of the hours of the year. We have a peak capacity concern, not an energy concern. The secret sauce here is to deal with the handful of peak hours that present reliability concerns.
Dominguez says Constellation signed about 920 MW of long-term nuclear deals averaging 18.5 years with investment-grade customers.
Since the last call, we have signed approximately 920 MW of long-term nuclear deals that are consistent with our view of long-term value. These contracts have an average duration of 18.5 years and are with investment-grade customers.
Dominguez says FERC is pushing PJM at an unprecedented pace and earlier regulatory concerns are being addressed.
As those who have followed PJM for years understand, the speed at which FERC is requiring PJM to move is unprecedented. Many of the concerns we raised earlier this year on that front are being addressed.
Dominguez warns that waiting for new power plants before connecting data centers would cede ground to China, and early data economy build-out must rely on existing generation.
Otherwise, we'd be waiting for every data center to wait for every megawatt to be interconnected and built. If that's the case, we might as well hand over the keys to China. We're never going to build this economy if the outcome is going to be we got to wait for new power plants to be built before we can connect any data center.
Dominguez expects co-location rule clarity in PJM by Q1-Q2 2027, well ahead of the earlier 2029 target.
we think that we're going to see rule clarity in the first to second quarter of 2027 in terms of co-location, far ahead of where PJM might have been before, where they were targeting 2029.
Dominguez says ERCOT weakness stems from batteries arriving before data center load, and the market should tighten as data centers get built.
What we're seeing in Texas is what we fully anticipated. The battery storage and other things you're talking about started earlier, they're arriving on the grid earlier than the load is. I think the market will start to tighten up as the data centers get built and you start to see the market come into more or less equilibrium.
Dominguez says no new nuclear investment is imminent, but Constellation is preparing sites and permits.
there's nothing right now that I would describe as imminently on the horizon for investment in new nuclear. What you're seeing us do, and what you'll see us continue to do here, is to prepare our sites for new nuclear development, because that work's got to get done anyway, the permitting, the early site permits that are needed.
Dominguez says Energy Secretary Chris Wright and multiple studies support his view on stranded grid capacity.
the most powerful voice on this subject has actually been Department of Energy Secretary Chris Wright, who's been saying exactly what I've said on these calls now for three years. That's been now backed up by study after study from Duke and Brattle and many others who have talked about the same thing.