FERC Approves Major Powergen Deal: Constellation Buying Calpine

In January, Constellation Energy (a huge power-generating company) announced a deal to buy out and merge with Calpine (another huge power-generating company). Calpine owns 79 energy facilities across the country, generating some 27 gigawatts (GW) of electricity, with a large number located in the eastern U.S. Many of Calpine's facilities use natural gas to produce electricity. The two companies combined would own almost 60 GW of nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration, and battery storage. Although several regulatory agencies must sign off on the deal, the primary agency that needs to clear it is the Federal Energy Regulatory Commission (FERC). Last week, FERC gave its stamp of approval.

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