With antitrust settlement, Constellation set to become largest US wholesale power provider

Core Viewpoint - Constellation Energy has agreed to divest six power plants and a minority stake in a seventh to resolve an antitrust complaint, facilitating its $26.6 billion acquisition of Calpine, which will position it as the largest wholesale power provider in the U.S. [1][2] Group 1: Antitrust Settlement - The U.S. Department of Justice and Texas filed a complaint stating that the acquisition would reduce competition, potentially increasing electricity costs by over $100 million annually in Texas and the PJM Mid-Atlantic region [2][3] - This settlement marks the first consent decree from the DOJ's antitrust division regarding an electricity merger in 14 years [3] Group 2: Regulatory Requirements - The Federal Energy Regulatory Commission mandated Constellation to sell four power plants, totaling nearly 3,550 MW, as a condition for approving the acquisition [4] - Constellation must finalize contracts to sell the assets within 240 days post-acquisition of Calpine [4] Group 3: Future Operations - Upon completion of the deal and compliance with the divestiture agreement, Constellation will control approximately 55 GW of diverse energy sources, while Calpine currently has about 27 GW [6]