Talen Energy Reports PJM Auction Results for the 2027/2028 Planning Year
Rhea-AI Summary
Talen Energy (NASDAQ: TLN) reported results from the PJM Base Residual Auction for the 2027/2028 planning year (June 1, 2027–May 31, 2028). Talen cleared 8,745 megawatts across the PJM Interconnection at a clearing price of $333.44 per megawatt-day, which the company said equates to approximately $1,067 million in capacity revenues for the planning year.
This outcome secures capacity revenue visibility for TLN for the 2027/2028 planning year under PJM auctioned contracts.
Positive
- 8,745 MW of capacity cleared in PJM
- $333.44/MW-day clearing price secured
- Approximately $1,067 million in capacity revenues locked for 2027/2028
Negative
- None.
News Market Reaction
On the day this news was published, TLN declined 6.58%, reflecting a notable negative market reaction. Argus tracked a peak move of +4.3% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $1.24B from the company's valuation, bringing the market cap to $17.63B at that time. Trading volume was above average at 1.5x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While TLN is up 5.26%, key peers NRG, VST, TAC, KEN and PAM show declines between -0.9% and -8.07%, pointing to a stock-specific reaction to the PJM auction news rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 15 | Management realignment | Neutral | +0.4% | Executive team restructuring with extended contracts and revised incentives. |
| Nov 25 | Asset acquisitions | Positive | +3.5% | Closing Freedom and Guernsey acquisitions adding baseload capacity in PJM. |
| Nov 18 | Regulatory clearance | Positive | +1.7% | FERC and DOJ approvals enabling completion of PJM asset purchases. |
| Nov 05 | Earnings and guidance | Positive | -4.3% | Q3 2025 results and narrowed 2025 guidance with financing updates. |
| Oct 27 | Debt offering | Negative | -0.2% | Senior notes issuance to fund Freedom and Guernsey power plant deals. |
TLN has generally risen on positive strategic and regulatory news, with one notable divergence on an earnings update.
Over the last few months, Talen reported Q3 2025 results with strengthened guidance and major financing actions, completed and secured approvals for the Freedom and Guernsey acquisitions adding nearly 2.9 GW in PJM, and executed a large senior notes offering. Management was recently realigned with new executive contracts through February 28, 2027. The latest PJM auction capacity result builds on this expansion of PJM-focused generating assets and revenue visibility into the 2027/2028 planning year.
Regulatory & Risk Context
Talen has an effective S-3ASR shelf registration dated 2025-08-07 that remains active through 2028-08-07, providing flexibility to issue securities in the future. No usage of this shelf is recorded in the provided context.
Market Pulse Summary
The stock moved -6.6% in the session following this news. A negative reaction despite the secured PJM capacity would contrast with prior positive responses to expansion in PJM, such as the Freedom and Guernsey deals that previously saw gains. The auction outcome adds visibility to about $1,067M in capacity revenues for 2027/2028 on 8,745 MW cleared, but traders could focus on broader risk factors, including potential future use of the effective shelf registration or existing leverage from recent financings.
Key Terms
pjm base residual auction technical
pjm interconnection regional transmission organization technical
megawatt-day technical
capacity revenues financial
AI-generated analysis. Not financial advice.
HOUSTON, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen,” “we,” or “our”) (NASDAQ: TLN), a leading independent power producer, today reported its results from the PJM Base Residual Auction for the 2027/2028 planning year. Talen cleared a total of 8,745 megawatts at a clearing price of
About Talen
Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 13.2 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet located in the Mid-Atlantic, Ohio and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to serve this growing industry, as artificial intelligence data centers increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.
Investor Relations:
Sergio Castro
Vice President & Treasurer
InvestorRelations@talenenergy.com
Media:
Taryne Williams
Director, Corporate Communications
Taryne.Williams@talenenergy.com
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things, the integration of the Company’s acquisitions, including the Freedom and Guernsey acquisitions, and the anticipated performance of the combined company; capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources, accounting matters, expectations, beliefs, plans, objectives, goals, strategies, future events or performance, shareholder returns and underlying assumptions. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations and are subject to numerous factors that present considerable risks and uncertainties.
FAQ
What did Talen (TLN) report for the PJM 2027/2028 auction results?
How much capacity revenue did TLN expect from the PJM 2027/2028 planning year?
What is the PJM planning year covered by Talen's 2027/2028 auction results?
What clearing price did TLN secure in the PJM Base Residual Auction for 2027/2028?
How many megawatts did TLN clear in the PJM 2027/2028 auction?
