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Constellation Completes Acquisition of Calpine

LCG, January 7, 2026--Constellation today announced that it completed its acquisition of Calpine Corporation from Energy Capital Partners (ECP). Constellation is now the largest producer of electricity in the U.S., with electric generation facilities across the nation.

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Duke Energy Submits Early Site Permit Application to NRC for New Nuclear Reactors in North Carolina

LCG, December 30, 2025--Duke Energy announced today its submission of an early site permit (ESP) application to the U.S. Nuclear Regulatory Commission (NRC). The site is near the Belews Creek Steam Station in Stokes County, North Carolina. The submittal follows two years of work at the site, and the announcement states that the submittal is part of Duke Energy's strategic, on-going commitment to evaluate new nuclear generation options to reliably meet the growing electricity needs of its customers while reducing costs and risks.

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Industry News

Court Ruling May Boost TXU Stranded Cost Recovery

LCG, Aug. 31, 2000A partial ruling yesterday by a Texas court could nearly quadruple the amount of stranded costs eligible for securitization by TXU Electric Co., the company said in a news release. TXU Electric is an operating subsidiary of TXU Corp.

The partial ruling by the Travis County Texas District Court reversed a portion of an order by the Public Utility Commission of Texas that used asset life for purposes of setting the value of strandable assets. That would essentially be depreciated book value based on straight-line depreciation over the life of an asset, which can be as long as 40 years.

The court believed that such valuation did not conform to securitization provision of the Texas electric industry restructuring law enacted last year, saying a present value period based upon stranded cost and regulatory asset recovery periods authorized under the restructuring statute should have been used.

TXU was careful to point out that the court did not set the valuation period to be used, but said that if the PUCT should use the alternative 12-year discounting period contained in its financing order, the amount to be securitized by TXU Electric would increase to $1.3 billion from $363 million.

The District Court indicated that it intended to enter a written final judgment September 5. TXU Electric said it will probably appeal the District Court's final judgment directly to the Texas Supreme Court.

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