Approval advances transaction that will create America’s leading reliable and clean energy provider, with coast-to-coast presence
BALTIMORE (June 16, 2025) – Constellation (Nasdaq: CEG) today announced it has received regulatory approval from the New York State Public Service Commission (PSC) for its previously announced acquisition of Calpine Corporation.
The approval represents the most recent key step forward in Constellation’s plans to combine the nation’s largest zero-emissions nuclear fleet with Calpine’s premier portfolio of low-emission natural gas and geothermal assets. The deal will establish a coast-to-coast platform capable of supporting growing demand for around-the-clock, sustainable power.
“This transaction will unite two diverse generation portfolios to create the leading reliable and clean generation fleet to help the U.S. win the AI race while meeting the growing needs of families, communities and businesses coast to coast,” said Joe Dominguez, president and CEO of Constellation. “Today’s approval brings us one step closer to making this critical vision a reality and helps us bring together two world-class teams with a strong commitment to operational excellence, sustainability and supporting our communities.”
Earlier this month, the deal cleared regulatory review with Texas’ Public Utilities Commission. The transaction — expected to close in the fourth quarter of 2025 — now awaits approval from the Federal Energy Regulatory Commission and the Department of Justice, along with other customary closing conditions.
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Jan 07, 2026
