FERC Decision Impacts Nuclear Stocks

Talen Energy down after agency rejects Amazon data center agreement ( RTRS ) Mon Nov 04,2024 05:27AM EST ** Shares of Talen Energy down 14.3% to $149.02 premarket ** The Federal Energy Regulatory Commission (FERC) on Friday rejected an amended interconnection agreement for an Amazon data center connected directly to a nuclear power plant in Pennsylvania ** News weighs on other nuclear−power utilities: Vistra down 5.9%, Constellation Energy falls 7.8%, and Public Service Enterprise drops 3.8% ** Brokerage Jefferies in a note on Sunday said rejection likely results in TLN and Amazon pursuing a new path rather than agreement via FERC ** "Out of the four IPPs, we still see the most value potential from Talen, assuming that Amazon still opts to move forward with its data center efforts at Susquehanna" − Jefferies ** Says data centers make up 17% of their valuation for co, 44% for CEG, 22% for VST, and 8% for PEG (Reporting by Seher Dareen in Bengaluru) ((Seher.Dareen@thomsonreuters.com;)) © Thompson Reuters. 2024. The information provided is reprinted with Reuters permission.
Submitted by admin on Mon, 11/04/2024 - 12:20