• Constellation, under the leadership of CEO Joe Dominguez, is a leading provider of clean, reliable nuclear energy in the US, with more capacity than any other competitive generator.
• The Inflation Reduction Act (IRA) and the nuclear production tax credit (PTC) provide a stable foundation for Constellation’s continued investment in growth opportunities, including license renewals, asset acquisitions, and clean energy generation.
• Constellation’s strategic initiatives in 2023, such as acquiring a stake in the South Texas Project nuclear plant and repowering wind assets, contributed to its unmatched reliability and growth, with nuclear assets generating over 174,000 GWh of carbon-free energy.

Constellation’s President and CEO, Joe Dominguez, has underscored the paramount importance of clean, dependable energy in today’s world. He asserts that Constellation, with its extensive nuclear capacity, is uniquely positioned to meet this demand, surpassing all other US competitive generators.

Dominguez also lauds the Inflation Reduction Act (IRA), signed into law by President Joe Biden in August 2022, for its support of both existing and new nuclear capacity. The act’s nuclear production tax credit (PTC) is hailed as a cornerstone for Constellation’s continued investment in growth opportunities, including expanding its clean energy generation through uprates, license extensions, and asset acquisitions.

Constellation has recently filed an application with the Nuclear Regulatory Commission for a 20-year license renewal for its Clinton plant in Illinois, aiming to sustain energy provision to the region until 2047.

The company is targeting a minimum 10% long-term base earnings per share growth through the decade, supported in part by the nuclear production tax credit. They also plan to capitalize on the value of their reliable, carbon-free nuclear power through various avenues, such as hourly carbon-free matching solutions, behind-the-meter opportunities like data centers or hydrogen, government clean energy procurements, or higher market prices.

In 2023, Constellation’s nuclear fleet achieved unparalleled reliability, enabling them to deliver carbon-free energy to customers around the clock, even in adverse weather conditions. The company’s strategic approach to growth in 2023 included acquiring a partial stake in the South Texas Project nuclear plant, repowering wind assets, extending the life of nuclear plants, and investing in new equipment to boost output.

Overall, Constellation’s nuclear assets generated 174,047 GWh in 2023, up from 173,350 GWh in 2022, reflecting the company’s unwavering commitment to providing clean, dependable energy and its strategic growth initiatives in the nuclear energy sector.