Constellation Energy said it learned the results of the PJM capacity auction for the 2025-2026 planning year on July 30, 2024, and that each of its nuclear, natural gas and oil power plants in the PJM market cleared in the auction.

8-KOther EventsFiled Jul 30, 2024Period of report Jul 30, 2024Summary published (UTC) Oct 25, 2026

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Constellation Energy said it learned the results of the PJM capacity auction for the 2025-2026 planning year on July 30, 2024, and that each of its nuclear, natural gas and oil power plants in the PJM market cleared in the auction.
The company disclosed that its cleared volumes at ownership in the PJM portfolio were 15,550 MW for nuclear and 1,950 MW for Fossil/Others, for a total of 17,500 MW.
The company disclosed that cleared prices were $270 in COMED, EMAAC and MAAC and $466 in BGE. Cleared capacity was 9,750 MW in COMED, 5,750 MW in EMAAC, 1,675 MW in MAAC and 325 MW in BGE.
The company said the auction results take effect on June 1, 2025, and that capacity revenues for nuclear plants are included in the gross receipts calculation for the Production Tax Credit.

Summary

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Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

PJM 2025-2026 Capacity Auction Results Confirmed

Constellation Energy said it learned the results of the PJM capacity auction for the 2025-2026 planning year on July 30, 2024, and that each of its nuclear, natural gas and oil power plants in the PJM market cleared in the auction.

Source · Based on the filing body and exhibits

PJM Portfolio Total Cleared Capacity of 17,500 MW

The company disclosed that its cleared volumes at ownership in the PJM portfolio were 15,550 MW for nuclear and 1,950 MW for Fossil/Others, for a total of 17,500 MW.

Source · Based on the filing body and exhibits

Cleared Capacity and Prices by Zone

The company disclosed that cleared prices were $270 in COMED, EMAAC and MAAC and $466 in BGE. Cleared capacity was 9,750 MW in COMED, 5,750 MW in EMAAC, 1,675 MW in MAAC and 325 MW in BGE.

Source · Based on the filing body and exhibits

Auction Results Effective Date and Production Tax Credit Link

The company said the auction results take effect on June 1, 2025, and that capacity revenues for nuclear plants are included in the gross receipts calculation for the Production Tax Credit.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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