We want to update you on an incident that happened with our Grok response bot on X yesterday.What happened:On May 14 at approximately 3:15 AM PST, an unauthorized modification was made to the Grok response bot's prompt on X. This change, which directed Grok to provide a specific response on a political topic, violated xAI's internal policies and core values. We have conducted a thorough investigation and are implementing measures to enhance Grok's transparency and reliability.What we’re going to do next:- S ...

Agreement maintains reliable electricity supply in Baltimore through May 2029HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen”) (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the “FERC”) has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates. Talen, PJM Interconnection, L.L.C. (“PJM”), and a broad coalition of the Maryland Pu ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $540.5 million, down from $651.7 million in Q1 2024, primarily due to reduced coal sales volumes and prices as well as lower transportation revenues [5] - Average coal sales price per ton decreased by 6.9% year-over-year to $60.29, but increased by 0.5% sequentially [5] - Net income for Q1 2025 was $74 million, compared to $158.1 million in Q1 2024, reflecting lower coal sales volumes and realized prices [11] - Adjusted EBITDA for Q1 2025 was $159.9 million [11] - Total debt outstanding was $484.1 million, with total liquidity at $514.3 million [12] Business Line Data and Key Metrics Changes - Total coal production in Q1 2025 was 8.5 million tons, a decrease of 7.2% compared to Q1 2024, while coal sales volumes decreased by 10.4% to 7.8 million tons [5][6] - In the Illinois Basin, coal sales price per ton decreased by 4.2%, while in Appalachia, it decreased by 8.5% [5] - Segment adjusted EBITDA expense per ton sold for coal operations was $42.75, an increase of 4.7% year-over-year [7] Market Data and Key Metrics Changes - The domestic market strengthened in early 2025 due to cold weather, higher natural gas prices, and declining coal inventories, leading to increased coal consumption [19] - The company has secured commitments for an additional 17.7 million tons over the 2025 to 2028 period, with 32.5 million tons committed in price for 2025 [14] - Coal consumption in Q1 2025 was 20% higher than the previous year [69] Company Strategy and Development Direction - The company plans to prioritize domestic market contracts over new export contracts due to strong domestic demand [19] - The company is committed to maintaining a strong balance sheet and disciplined capital allocation while monitoring trade policy impacts [27] - The company expects to see cost improvements in Appalachia as mining conditions improve [18] Management's Comments on Operating Environment and Future Outlook - Management noted that the executive orders from the administration regarding coal and grid reliability are positive for the industry [21][22] - The company anticipates a material improvement in full-year costs to offset lower realized pricing in the coal business for 2025 [15] - Management expressed confidence in achieving cost guidance for Appalachia as operations improve [45] Other Important Information - The company declared a quarterly distribution of $0.70 per unit for Q1 2025, unchanged from previous quarters [12][27] - The company plans to invest in oil and gas minerals and data center infrastructure, depending on market conditions [50][56] Q&A Session Summary Question: Comments on President Trump's executive orders and coal plant retirement delays - Management indicated that most utilities served intend to take advantage of extensions for coal plants and are responsive to increased electricity demand [36][37] Question: Impact of trade policies on business - Management discussed the impact of tariff increases on steel and aluminum and the uncertainty surrounding trade policies, but noted the administration's awareness of the energy sector's importance [41][43] Question: Confidence in achieving cost per ton guidance for Appalachia - Management expressed confidence in achieving cost guidance, with improvements expected in the second half of 2025 as operations stabilize [45][46] Question: Capital allocation strategy in the current environment - Management stated that capital allocation is focused on maintenance capital for coal operations, while also evaluating growth opportunities in data center infrastructure [49][50]