Constellation Energy Sells $5B PJM Generation Assets to LS Power
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 18 2026
0mins
Should l Buy CEG?
Source: seekingalpha
- Asset Sale Context: Constellation Energy announced the sale of its PJM generation asset portfolio to LS Power for $5 billion, aimed at fulfilling regulatory commitments related to its acquisition of Calpine, demonstrating the company's proactive compliance stance.
- Transaction Details: The deal involves approximately 4.4 GW of natural gas-fired generation capacity primarily located in Delaware and Pennsylvania, including facilities such as Bethlehem, York1, York2, Hay Road, and Edge Moor, with an acquisition price of $1,142 per kW, reflecting market recognition of these assets.
- Antitrust Review Requirements: This sale represents the largest portion of divestitures mandated by the U.S. Department of Justice as part of its antitrust review of the Calpine transaction, indicating Constellation Energy's commitment to meeting regulatory requirements while paving the way for future business integration.
- Acquisition Background: Constellation Energy completed its acquisition of Calpine in January, valued at $26.6 billion in cash and stock, and this asset sale is part of its strategic realignment aimed at optimizing its asset portfolio and enhancing market competitiveness.
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Analyst Views on CEG
Wall Street analysts forecast CEG stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 279.460
Low
350.00
Averages
414.86
High
460.00
Current: 279.460
Low
350.00
Averages
414.86
High
460.00
About CEG
Constellation Energy Corporation is a producer of emissions-free energy and an energy supplier to businesses, homes and public sector customers nationwide. The Company’s nuclear, hydro, wind, and solar generation facilities have the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy. Its segments include Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. Through its integrated business operations, it sells electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. It operates approximately 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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