DOJ 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 significant 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. The Federal Energy Regulatory Commission (FERC) signed off on the deal in July, with conditions (see FERC Approves Major Powergen Deal: Constellation Buying Calpine). The U.S. Department of Justice (DOJ) signed off last week, subject to a few more conditions.

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