Constellation Energy

Constellation Energy Corporation (NASDAQ: CEG) operates as the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy. The company website is www.ConstellationEnergy.com. Following its January 2026 acquisition of Calpine Corporation, Constellation commands approximately 55 gigawatts of generating capacity across nuclear, natural gas, geothermal, hydro, wind, and solar facilities, sufficient to power the equivalent of 27 million homes and deliver roughly 10 percent of the nation's clean energy supply.

The company operates through five reportable segments organized by geographic region: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. Constellation's owned generating resources totaled 31,676 megawatts of net generation capacity as of December 31, 2025, supplemented by 4,798 megawatts of contracted generation capacity. The nuclear fleet represents the nation's largest, comprising 14 nuclear generating stations with 25 units producing 183 terawatt-hours of zero-emissions electricity annually. The company also operates approximately 7 gigawatts of natural gas and oil-fueled generation, 2.6 gigawatts of renewable capacity including hydroelectric facilities, and through Calpine, the largest geothermal portfolio in the United States with approximately 730 megawatts of capacity plus 800 megawatts of battery storage.

Constellation serves approximately 2.5 million customer accounts nationwide through its customer-facing business, including three-fourths of the Fortune 100 companies and approximately 1.4 million residential customers. The company supplied approximately 204 terawatt-hours of electric power in 2025 through retail and wholesale channels. The retail business serves commercial, industrial, public sector, and residential customers across multiple geographic regions, while the wholesale channel involves sales to utilities, municipalities, and cooperatives. The company employs approximately 2,500 additional employees from the Calpine acquisition, complementing its existing workforce dedicated to operational excellence and customer service.

Constellation emerged as an independent, publicly traded company on February 1, 2022, following its separation from Exelon Corporation. The company maintains a diversified portfolio emphasizing emissions-free generation, with nuclear facilities achieving capacity factors of 94.7 percent in 2025, approximately four percentage points above industry averages.