Business Overview

The nation has seen rapid advancements in generative AI models – a once-in-a-generation catalyst for American growth. The need to power these AI models with safe, secure and reliable American electricity is resulting in projections for unprecedented increase in electricity demand – or load growth. This adds to the growing energy demand from electrification and the resurgence of American manufacturing.

• According to the U.S. Department of Energy (DOE), demand for data center power has tripled since 2014 largely due to the growth of AI.

• Recent forecasts project that electricity demand could grow 15.8% by 2029, driven primarily by the data economy, onshoring and other electrification efforts.

Energy diversification is reshaping the grid, changing the types of assets and how they’re dispatched to create a more resilient energy supply.

• Stakeholders increasingly recognize the importance of nuclear energy sources that enable energy security, reliability and diversification.

• Distributed generation and battery storage will be key components of the decarbonized grid of the future.

• A mix of centralized power stations and decentralized assets – both behind and in front of the meter, stand-alone or in aggregate – is necessary. 

Customers increasingly prefer to be connected to, manage and measure their energy usage, making successful digitalization essential.

• Rapid development of disruptive technologies is creating a path to achieve clean energy goals.
  
  
• Platform-based business models bring consumers and producers together, expanding customer access and improving experience while reducing cost and supporting greater efficiency.

• The largest clean energy producer in the U.S.
  
  
• The largest nuclear energy company in the U.S.
  
  
• The largest producer of reliable energy in the U.S.*
  
  
• Innovative products that support low-carbon solutions and help customers meet their environmental and sustainability goals.
  
  
• Powerful advocate for national and state policies, supporting America's energy initiatives and goals.

^{* Reliable/around-the-clock energy includes nuclear, gas combined cycle, geothermal and coal steam turbine (and is true with or without conventional hydro)}

• Industry-leading nuclear capacity factor of approximately 94% or higher since 2013, about four points better than the industry average each year.
  
  
• 20-day average nuclear refueling outage in 2024, which was 18 days better than the industry average.
  
  
• Strong customer renewal and retention rates with our commercial and industrial (C&I) customers.

One of the largest customer-facing energy platforms in the U.S., servicing approximately 200 terawatt hours (TWh) of load.¹

¹Source: DNV GL Retail Landscape July 2024. Numbers reflect annualized customer load under contract as of December 2023.

Learn more about how our sustainability principles drive our work. 

Learn more about Constellation's history of driving change in clean energy leadership.

• World-class nuclear operator and largest generator of 24/7 emissions-free, firm electricity with the ability to extend asset lives.

• Largest provider of energy and solutions to commercial and industrial (C&I) customers.

• Strong advocate for energy policies that support a reliable, clean energy future.

• Strong free cash flows, optimized through industry-leading operations, support of clean, reliable energy and focus on costs.

• Disciplined capital allocation strategy supports a strong investment-grade balance sheet.

• Growth investment consistent with corporate strategy and return of capital to owners.

Learn more about our Investor Relations.

• Serving as the largest clean energy producer in the U.S. and the largest private-sector clean energy producer in the world.

• Demonstrating a commitment to respect, belonging, diversity and inclusion.

• Maintaining the highest standards of corporate governance.

Learn more about our sustainability principles.

Nuclear energy is traditionally generated through a process called nuclear fission. Atoms are split apart to form smaller atoms, creating heat. The heat that’s created is then used to boil water into steam, which powers an electricity-creating turbine. It’s one of the most reliable sources of emissions-free energy available. 

Hydroelectric energy, or hydropower, is created using the force of running water. As the water moves, it spins the blades in a turbine, which then powers the generator that produces energy. Hydropower also offers benefits beyond electricity generation, supporting flood control and irrigation.

Solar energy works by using solar panels to absorb and trap sunlight. An inverter then converts the sunlight into AC electricity. 

Wind is another abundant and easy-to-access energy source. To create wind energy, air flows across the blades of large turbines, causing them to rotate. That motion is harnessed and converted into electricity.

Geothermal energy is produced using heat from within the Earth's core. Wells are drilled into the ground, which enables water to recirculate through wells to generate steam. The steam is then used to power turbines that generate electricity.