Constellation Energy awaits regulatory agency decision on the restart of the Three Mile Island nuclear power plant

Investing.com — Constellation Energy (NASDAQ:CEG) said Monday that U.S. regulators are expected to make a ruling as early as next month on when the Three Mile Island nuclear power plant in Pennsylvania can be restarted.

The company plans to restart the nuclear facility next year and rename it the Crane Clean Energy Center. The project faces challenges due to potential delays related to broader grid issues, and Constellation Energy has filed an application with the Federal Energy Regulatory Commission (FERC), seeking a solution.

Initial feedback from the PJM grid indicates that the Crane nuclear plant may not be able to supply power to the grid until 2031.

Company executives said during the quarterly earnings investor call that FERC could make a decision on Constellation Energy’s application in June or July. The core of the application is to transfer some of the interconnection transmission rights for the company’s natural gas power plant in Eddystone, outside Philadelphia, to the Crane nuclear plant.

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This nuclear power plant restart project is being pursued based on a contract to supply power to Microsoft (NASDAQ:MSFT) data centers in the region. Currently, three shut-down reactor restart projects in the U.S. are being advanced in parallel, driven by data center expansion and the continued rise in electricity demand from the electrification of industry and buildings.

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