Constellation‘s Deal With Calpine Approved by Federal Energy Regulatory Commission

Constellation (Nasdaq: CEG) has secured Federal Energy Regulatory Commission (FERC) approval for its planned acquisition of Calpine Corporation.

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07/24/2025 - 08:00 AM EDT

Approval advances Constellation’s plan to establish leading provider of energy products and services for American families and businesses

BALTIMORE--(BUSINESS WIRE)-- Constellation (Nasdaq: CEG) today announced it has received regulatory approval from the Federal Energy Regulatory Commission (FERC) for its previously announced acquisition of Calpine Corporation.

“We appreciate FERC’s timely attention, review and approval of this transaction,” said Joe Dominguez, president and CEO of Constellation. “As electricity demand accelerates, this combination gives us the ability to best serve the nation’s industries and communities with the clean, always-on power they need to grow and thrive.”

This approval represents the most recent step forward in the transaction following earlier approvals by the New York Public Service Commission and the Public Utility Commission of Texas. The transaction, which is expected to close in the fourth quarter of 2025, remains subject to clearance by the Department of Justice and other customary closing conditions.

About Constellation

Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the nation’s largest producer of reliable, emissions-free energy and a leading energy supplier to businesses, homes and public sector customers nationwide, including three-fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation’s clean energy. We are committed to investing in innovative technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.