Google's 890 MW deal equals about 11% of the megawatts on the NRC's approved-uprate list
Google will buy 20 years of output from upgrades at 11 Constellation reactors, the companies said Oct. 6. The federal regulator, which must approve some such upgrades, last approved one in November 2021 and had none pending Sept. 15.
KeyVex News··6 min readFact-checked against 7 public recordsKeyVex News··6 min readFact-checked against 7 public records
CEG$267.62▲ 3.9%Close, Oct. 5. Prices from Tiingo.The short versionTap to readTap to close
- The 890 megawatts Google is buying equal a large new reactor's output, the companies said. They are to come instead from upgrades, called uprates, at 11 reactors Constellation already runs, the first by 2028.
- It is Constellation's third such sale to a tech company in 16 months, after Meta and Amazon. Together they come to about 1,110 megawatts of uprates not yet built, by KeyVex's math.
- That is about 14% of the uprate capacity on the Nuclear Regulatory Commission's list of approvals, which starts in 1977. Its last approval came in November 2021, and none was under review on Sept. 15.
- Uprates that raise a reactor's licensed power need an NRC license amendment. The companies haven't said how much of the 890 megawatts will need one.
- Next on paper: the NRC's list has Constellation's first listed uprate application expected in the fourth quarter of 2026, plant name withheld. It doesn't say whether it is for a Google unit.
The deal: Constellation Energy will invest more than $4.3 billion to upgrade 11 of its nuclear units, and Google will buy the added output for 20 years, the companies said on Oct. 6.Release The units, in Illinois, Pennsylvania and New Jersey, are to add 890 megawatts the companies called "entirely new," the first by 2028. Amanda Peterson Corio, Google's global head of energy and power, called it an agreement "to fund nuclear reactor uprates." Google also signed a 15-year agreement for 2,700 megawatts from Constellation's existing plants.Release
The pattern: It is the third time in 16 months that Constellation has sold a tech company power from reactor upgrades it has yet to make. Meta's June 2025 deal for the Clinton plant in Illinois includes 30 megawatts of uprates, to be complete in 2029.10-KRelease Amazon's, announced Sept. 30, includes 190 megawatts at Calvert Cliffs in Maryland, due between 2030 and 2032.Release Together that is about 1,110 megawatts, by KeyVex's math.
The record: The Nuclear Regulatory Commission's list of approved uprates has 172 entries since 1977, adding 8,030 megawatts in all.NRC Google's deal alone is about 11% of that, and Constellation's three deals are about 14%, by KeyVex's math. The table's last approval came on Nov. 9, 2021, and on Sept. 15 the NRC had no uprate application under review.NRC The list covers uprates for which a plant's license was amended to allow more power, and the companies haven't said how much of the 890 megawatts will need such an amendment.NRCRelease
The stock: Constellation traded at about $301 at 10:20 a.m. on Oct. 6, up about 12.6% from its Oct. 5 close of $267.62, on the IEX exchange.IEX quoteChart data
Constellation's stock and the deals' key datesDaily close, Sept. 3, 2024 to Oct. 5, 2026 ▲ 50.5%Show chartHide chart
- 1Sept. 20, 2024 Microsoft deal to restart Three Mile Island Unit 1. A 20-year agreement for a restarted reactor, about 835 megawatts, now called the Crane Clean Energy Center. Constellation closes at $254.98.
- 2June 3, 2025 Meta buys Clinton's output, including a 30-megawatt uprate. A 20-year agreement for the Illinois plant's output, starting June 2027. Constellation closes at $313.03.
- 3March 12, 2026 The Energy Department launches UPRISE. A program to add nuclear capacity through uprates, restarts and license renewals: 2.5 gigawatts by 2027 and 5 gigawatts by 2029. Constellation closes at $301.55.
- 4Sept. 30, 2026 Amazon deal at Calvert Cliffs, including a 190-megawatt uprate. 690 megawatts over 20 years in Maryland; the uprate is to come online between 2030 and 2032. Constellation closes at $254.02.
- 5Oct. 5, 2026 The Energy Department offers Vistra up to $4.2 billion for uprates. A conditional loan commitment for Vistra's plants in Pennsylvania and Ohio. This is the last close in this chart; the Google deal came the next morning.
View the data (524 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-05 | $267.62 | +3.9% |
| 2026-10-02 | $257.49 | −0.6% |
| 2026-10-01 | $258.92 | +1.9% |
| 2026-09-30 | $254.02 | −4.0% |
| 2026-09-29 | $264.58 | +1.6% |
| 2026-09-28 | $260.43 | −1.1% |
| 2026-09-25 | $263.27 | +0.6% |
| 2026-09-24 | $261.62 | −0.9% |
| 2026-09-23 | $263.88 | +0.2% |
| 2026-09-22 | $263.46 | +0.5% |
| 2026-09-21 | $262.11 | +2.9% |
| 2026-09-18 | $254.71 | −3.1% |
| 2026-09-17 | $262.80 | +1.3% |
| 2026-09-16 | $259.53 | −0.1% |
| 2026-09-15 | $259.89 | −1.8% |
| 2026-09-14 | $264.57 | −7.1% |
| 2026-09-11 | $284.75 | −0.4% |
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| 2026-09-09 | $293.90 | −1.7% |
| 2026-09-08 | $299.05 | 0.0% |
| 2026-09-04 | $298.96 | +4.9% |
| 2026-09-03 | $285.05 | −1.7% |
| 2026-09-02 | $290.04 | +3.5% |
| 2026-09-01 | $280.31 | +2.0% |
| 2026-08-31 | $274.77 | −0.7% |
| 2026-08-28 | $276.75 | −2.0% |
| 2026-08-27 | $282.41 | +1.0% |
| 2026-08-26 | $279.52 | +0.4% |
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| 2026-08-24 | $273.43 | +0.2% |
| 2026-08-21 | $272.88 | 0.0% |
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| 2026-07-31 | $262.75 | −0.3% |
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| 2026-07-29 | $257.95 | −0.7% |
| 2026-07-28 | $259.82 | −3.8% |
| 2026-07-27 | $270.00 | −1.6% |
| 2026-07-24 | $274.35 | −0.5% |
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| 2026-07-22 | $274.90 | +4.8% |
| 2026-07-21 | $262.22 | +3.4% |
| 2026-07-20 | $253.50 | +0.4% |
| 2026-07-17 | $252.39 | +0.2% |
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| 2026-07-15 | $258.12 | +0.7% |
| 2026-07-14 | $256.43 | −0.4% |
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| 2026-07-10 | $251.38 | +0.3% |
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| 2026-06-26 | $264.02 | −1.7% |
| 2026-06-25 | $268.69 | +0.3% |
| 2026-06-24 | $267.97 | −0.8% |
| 2026-06-23 | $270.26 | −1.9% |
| 2026-06-22 | $275.53 | +0.5% |
| 2026-06-18 | $274.06 | +2.6% |
| 2026-06-17 | $267.17 | −0.3% |
| 2026-06-16 | $268.00 | +2.2% |
| 2026-06-15 | $262.35 | +3.4% |
| 2026-06-12 | $253.76 | +2.9% |
| 2026-06-11 | $246.71 | +1.8% |
| 2026-06-10 | $242.30 | −3.7% |
| 2026-06-09 | $251.65 | +0.4% |
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| 2026-06-01 | $265.70 | −7.7% |
| 2026-05-29 | $287.75 | +0.5% |
| 2026-05-28 | $286.31 | −0.8% |
| 2026-05-27 | $288.68 | −4.3% |
| 2026-05-26 | $301.57 | +2.6% |
| 2026-05-22 | $294.07 | +2.9% |
| 2026-05-21 | $285.83 | +1.6% |
| 2026-05-20 | $281.26 | +7.9% |
| 2026-05-19 | $260.67 | −0.5% |
| 2026-05-18 | $262.00 | −1.9% |
| 2026-05-15 | $267.20 | −2.9% |
| 2026-05-14 | $275.26 | +0.1% |
| 2026-05-13 | $274.89 | −6.4% |
| 2026-05-12 | $293.60 | −2.0% |
| 2026-05-11 | $299.69 | −1.3% |
| 2026-05-08 | $303.63 | −2.5% |
| 2026-05-07 | $311.28 | −3.6% |
| 2026-05-06 | $322.78 | +0.7% |
| 2026-05-05 | $320.42 | −0.2% |
| 2026-05-04 | $321.05 | +4.3% |
| 2026-05-01 | $307.81 | −1.7% |
| 2026-04-30 | $313.00 | +5.4% |
| 2026-04-29 | $297.00 | −2.8% |
| 2026-04-28 | $305.71 | −3.0% |
| 2026-04-27 | $315.17 | +0.5% |
| 2026-04-24 | $313.53 | +7.1% |
| 2026-04-23 | $292.77 | +2.0% |
| 2026-04-22 | $287.16 | +3.4% |
| 2026-04-21 | $277.70 | −3.4% |
| 2026-04-20 | $287.56 | −2.9% |
| 2026-04-17 | $296.21 | −1.0% |
| 2026-04-16 | $299.14 | +1.5% |
| 2026-04-15 | $294.73 | −0.6% |
| 2026-04-14 | $296.61 | +1.7% |
| 2026-04-13 | $291.72 | +1.8% |
| 2026-04-10 | $286.50 | +2.2% |
| 2026-04-09 | $280.25 | −1.4% |
| 2026-04-08 | $284.27 | +4.3% |
| 2026-04-07 | $272.58 | −0.9% |
| 2026-04-06 | $275.16 | +0.9% |
| 2026-04-02 | $272.82 | −2.4% |
| 2026-04-01 | $279.46 | +0.1% |
| 2026-03-31 | $279.25 | −6.5% |
| 2026-03-30 | $298.61 | −1.0% |
| 2026-03-27 | $301.49 | +2.1% |
| 2026-03-26 | $295.19 | −2.7% |
| 2026-03-25 | $303.32 | +2.9% |
| 2026-03-24 | $294.85 | +1.8% |
| 2026-03-23 | $289.76 | +2.8% |
| 2026-03-20 | $281.99 | −10.9% |
| 2026-03-19 | $316.47 | −0.2% |
| 2026-03-18 | $317.22 | +3.1% |
| 2026-03-17 | $307.69 | +0.7% |
| 2026-03-16 | $305.58 | +1.3% |
| 2026-03-13 | $301.77 | +0.1% |
| 2026-03-12 | $301.55 | +0.3% |
| 2026-03-11 | $300.69 | −5.2% |
| 2026-03-10 | $317.09 | −1.8% |
| 2026-03-09 | $322.99 | +1.2% |
| 2026-03-06 | $319.06 | −3.9% |
| 2026-03-05 | $332.07 | +2.9% |
| 2026-03-04 | $322.85 | −0.6% |
| 2026-03-03 | $324.87 | −0.7% |
| 2026-03-02 | $327.16 | −0.8% |
| 2026-02-27 | $329.88 | +2.0% |
| 2026-02-26 | $323.56 | −0.7% |
| 2026-02-25 | $325.84 | +4.2% |
| 2026-02-24 | $312.64 | +6.4% |
| 2026-02-23 | $293.80 | −0.4% |
| 2026-02-20 | $294.84 | +1.1% |
| 2026-02-19 | $291.66 | −0.8% |
| 2026-02-18 | $294.05 | −3.0% |
| 2026-02-17 | $303.01 | +5.1% |
| 2026-02-13 | $288.43 | +4.5% |
| 2026-02-12 | $276.12 | −0.3% |
| 2026-02-11 | $276.85 | +2.1% |
| 2026-02-10 | $271.14 | −0.4% |
| 2026-02-09 | $272.15 | +4.1% |
| 2026-02-06 | $261.42 | +5.8% |
| 2026-02-05 | $247.06 | −1.4% |
| 2026-02-04 | $250.46 | −6.7% |
| 2026-02-03 | $268.45 | −0.9% |
| 2026-02-02 | $270.88 | −3.5% |
| 2026-01-30 | $280.68 | −2.4% |
| 2026-01-29 | $287.45 | −0.2% |
| 2026-01-28 | $287.95 | −0.3% |
| 2026-01-27 | $288.76 | +1.2% |
| 2026-01-26 | $285.27 | −1.3% |
| 2026-01-23 | $289.06 | +0.6% |
| 2026-01-22 | $287.35 | −2.4% |
| 2026-01-21 | $294.37 | −0.3% |
| 2026-01-20 | $295.40 | −4.0% |
| 2026-01-16 | $307.71 | −9.8% |
| 2026-01-15 | $341.20 | +3.3% |
| 2026-01-14 | $330.38 | −0.9% |
| 2026-01-13 | $333.53 | −0.7% |
| 2026-01-12 | $335.86 | −1.9% |
| 2026-01-09 | $342.52 | +6.2% |
| 2026-01-08 | $322.54 | −4.8% |
| 2026-01-07 | $338.63 | −4.5% |
| 2026-01-06 | $354.58 | −0.1% |
| 2026-01-05 | $354.94 | −3.1% |
| 2026-01-02 | $366.25 | +3.7% |
| 2025-12-31 | $353.27 | −1.1% |
| 2025-12-30 | $357.12 | −0.3% |
| 2025-12-29 | $358.33 | −0.6% |
| 2025-12-26 | $360.46 | −1.0% |
| 2025-12-24 | $363.95 | +0.7% |
| 2025-12-23 | $361.33 | +1.0% |
| 2025-12-22 | $357.81 | +0.7% |
| 2025-12-19 | $355.40 | −1.6% |
| 2025-12-18 | $361.05 | +5.9% |
| 2025-12-17 | $340.97 | −6.7% |
| 2025-12-16 | $365.63 | +2.4% |
| 2025-12-15 | $357.14 | +1.5% |
| 2025-12-12 | $351.98 | −7.0% |
| 2025-12-11 | $378.60 | +4.6% |
| 2025-12-10 | $362.07 | +0.8% |
| 2025-12-09 | $359.15 | +0.4% |
| 2025-12-08 | $357.67 | −0.6% |
| 2025-12-05 | $359.82 | −2.4% |
| 2025-12-04 | $368.62 | +2.0% |
| 2025-12-03 | $361.26 | −0.7% |
| 2025-12-02 | $363.67 | +1.3% |
| 2025-12-01 | $359.05 | −1.5% |
| 2025-11-28 | $364.36 | +1.5% |
| 2025-11-26 | $359.09 | +2.1% |
| 2025-11-25 | $351.60 | −0.7% |
| 2025-11-24 | $354.11 | +4.7% |
| 2025-11-21 | $338.11 | −2.2% |
| 2025-11-20 | $345.78 | −3.3% |
| 2025-11-19 | $357.48 | +5.3% |
| 2025-11-18 | $339.35 | +0.2% |
| 2025-11-17 | $338.67 | 0.0% |
| 2025-11-14 | $338.52 | +0.8% |
| 2025-11-13 | $335.74 | −5.2% |
| 2025-11-12 | $354.02 | +0.7% |
| 2025-11-11 | $351.67 | −2.6% |
| 2025-11-10 | $360.93 | +0.7% |
| 2025-11-07 | $358.39 | +2.0% |
| 2025-11-06 | $351.30 | −3.3% |
| 2025-11-05 | $363.25 | +0.1% |
| 2025-11-04 | $362.82 | −3.9% |
| 2025-11-03 | $377.71 | +0.2% |
| 2025-10-31 | $377.00 | −1.4% |
| 2025-10-30 | $382.48 | −4.7% |
| 2025-10-29 | $401.43 | +4.3% |
| 2025-10-28 | $384.95 | −1.6% |
| 2025-10-27 | $391.15 | +0.5% |
| 2025-10-24 | $389.19 | +6.4% |
| 2025-10-23 | $365.80 | +4.5% |
| 2025-10-22 | $350.06 | −2.4% |
| 2025-10-21 | $358.79 | −3.0% |
| 2025-10-20 | $370.00 | −4.3% |
| 2025-10-17 | $386.50 | −2.5% |
| 2025-10-16 | $396.53 | −1.8% |
| 2025-10-15 | $403.95 | +3.7% |
| 2025-10-14 | $389.56 | +2.3% |
| 2025-10-13 | $380.91 | +3.4% |
| 2025-10-10 | $368.49 | −3.8% |
| 2025-10-09 | $383.23 | +3.3% |
| 2025-10-08 | $371.00 | +3.6% |
| 2025-10-07 | $358.16 | −1.6% |
| 2025-10-06 | $364.10 | +1.1% |
| 2025-10-03 | $360.00 | +0.7% |
| 2025-10-02 | $357.46 | +1.9% |
| 2025-10-01 | $350.90 | +6.6% |
| 2025-09-30 | $329.07 | −1.6% |
| 2025-09-29 | $334.26 | +0.9% |
| 2025-09-26 | $331.26 | +1.5% |
| 2025-09-25 | $326.33 | −3.8% |
| 2025-09-24 | $339.13 | +0.7% |
| 2025-09-23 | $336.65 | −3.0% |
| 2025-09-22 | $347.12 | +4.9% |
| 2025-09-19 | $330.90 | +2.5% |
| 2025-09-18 | $322.71 | +0.4% |
| 2025-09-17 | $321.27 | −0.5% |
| 2025-09-16 | $322.91 | −2.3% |
| 2025-09-15 | $330.42 | +2.1% |
| 2025-09-12 | $323.48 | +1.7% |
| 2025-09-11 | $318.00 | −0.6% |
| 2025-09-10 | $320.00 | +6.4% |
| 2025-09-09 | $300.82 | +0.7% |
| 2025-09-08 | $298.82 | −0.9% |
| 2025-09-05 | $301.58 | −2.4% |
| 2025-09-04 | $309.06 | +0.2% |
| 2025-09-03 | $308.48 | +0.4% |
| 2025-09-02 | $307.19 | −0.3% |
| 2025-08-29 | $307.98 | −3.6% |
| 2025-08-28 | $319.55 | +1.1% |
| 2025-08-27 | $315.94 | −0.2% |
| 2025-08-26 | $316.58 | +1.9% |
| 2025-08-25 | $310.68 | +0.2% |
| 2025-08-22 | $310.16 | −0.8% |
| 2025-08-21 | $312.52 | −0.5% |
| 2025-08-20 | $314.21 | −1.0% |
| 2025-08-19 | $317.24 | −1.7% |
| 2025-08-18 | $322.77 | +0.2% |
| 2025-08-15 | $322.23 | −1.2% |
| 2025-08-14 | $326.21 | −0.4% |
| 2025-08-13 | $327.63 | −3.2% |
| 2025-08-12 | $338.57 | +2.1% |
| 2025-08-11 | $331.49 | −1.3% |
| 2025-08-08 | $335.76 | −0.2% |
| 2025-08-07 | $336.41 | −0.6% |
| 2025-08-06 | $338.46 | −1.5% |
| 2025-08-05 | $343.57 | −3.2% |
| 2025-08-04 | $354.89 | +4.1% |
| 2025-08-01 | $340.77 | −2.0% |
| 2025-07-31 | $347.84 | +0.7% |
| 2025-07-30 | $345.27 | +4.5% |
| 2025-07-29 | $330.52 | +0.6% |
| 2025-07-28 | $328.66 | +0.4% |
| 2025-07-25 | $327.35 | +1.8% |
| 2025-07-24 | $321.67 | −0.6% |
| 2025-07-23 | $323.70 | +1.9% |
| 2025-07-22 | $317.79 | 0.0% |
| 2025-07-21 | $317.88 | −1.1% |
| 2025-07-18 | $321.42 | +4.3% |
| 2025-07-17 | $308.08 | 0.0% |
| 2025-07-16 | $308.20 | −3.1% |
| 2025-07-15 | $317.99 | −2.5% |
| 2025-07-14 | $325.99 | +1.4% |
| 2025-07-11 | $321.54 | +2.5% |
| 2025-07-10 | $313.62 | −1.1% |
| 2025-07-09 | $317.11 | +1.4% |
| 2025-07-08 | $312.84 | −1.7% |
| 2025-07-07 | $318.25 | +2.0% |
| 2025-07-03 | $311.88 | +1.7% |
| 2025-07-02 | $306.63 | −0.4% |
| 2025-07-01 | $307.92 | −4.6% |
| 2025-06-30 | $322.76 | +0.8% |
| 2025-06-27 | $320.17 | −0.7% |
| 2025-06-26 | $322.51 | +2.3% |
| 2025-06-25 | $315.14 | −1.7% |
| 2025-06-24 | $320.66 | +1.7% |
| 2025-06-23 | $315.21 | +3.4% |
| 2025-06-20 | $304.92 | −0.5% |
| 2025-06-18 | $306.43 | +0.2% |
| 2025-06-17 | $305.70 | −0.7% |
| 2025-06-16 | $308.01 | +3.7% |
| 2025-06-13 | $296.89 | −1.2% |
| 2025-06-12 | $300.38 | +2.8% |
| 2025-06-11 | $292.19 | +0.4% |
| 2025-06-10 | $291.02 | −2.9% |
| 2025-06-09 | $299.66 | +0.3% |
| 2025-06-06 | $298.80 | +3.1% |
| 2025-06-05 | $289.88 | −3.2% |
| 2025-06-04 | $299.54 | −4.3% |
| 2025-06-03 | $313.03 | −0.1% |
| 2025-06-02 | $313.43 | +2.4% |
| 2025-05-30 | $306.15 | +0.9% |
| 2025-05-29 | $303.37 | −1.5% |
| 2025-05-28 | $308.05 | −0.3% |
| 2025-05-27 | $309.06 | +3.9% |
| 2025-05-23 | $297.49 | +2.1% |
| 2025-05-22 | $291.47 | +1.5% |
| 2025-05-21 | $287.11 | −1.8% |
| 2025-05-20 | $292.40 | −0.6% |
| 2025-05-19 | $294.02 | +1.0% |
| 2025-05-16 | $291.12 | +2.4% |
| 2025-05-15 | $284.40 | −1.3% |
| 2025-05-14 | $288.15 | −1.2% |
| 2025-05-13 | $291.52 | +2.2% |
| 2025-05-12 | $285.28 | +5.1% |
| 2025-05-09 | $271.37 | +0.3% |
| 2025-05-08 | $270.59 | +0.9% |
| 2025-05-07 | $268.12 | −2.1% |
| 2025-05-06 | $273.82 | +10.3% |
| 2025-05-05 | $248.27 | +0.4% |
| 2025-05-02 | $247.26 | +2.8% |
| 2025-05-01 | $240.62 | +7.7% |
| 2025-04-30 | $223.44 | −1.3% |
| 2025-04-29 | $226.45 | +0.7% |
| 2025-04-28 | $224.82 | +0.8% |
| 2025-04-25 | $222.99 | +2.3% |
| 2025-04-24 | $218.07 | +3.9% |
| 2025-04-23 | $209.80 | +4.4% |
| 2025-04-22 | $200.88 | +4.3% |
| 2025-04-21 | $192.61 | −6.8% |
| 2025-04-17 | $206.68 | +1.2% |
| 2025-04-16 | $204.19 | −2.0% |
| 2025-04-15 | $208.42 | +0.8% |
| 2025-04-14 | $206.70 | −0.7% |
| 2025-04-11 | $208.25 | +1.8% |
| 2025-04-10 | $204.49 | −5.1% |
| 2025-04-09 | $215.45 | +16.5% |
| 2025-04-08 | $184.94 | +2.9% |
| 2025-04-07 | $179.79 | +5.2% |
| 2025-04-04 | $170.96 | −10.1% |
| 2025-04-03 | $190.24 | −11.3% |
| 2025-04-02 | $214.46 | +3.6% |
| 2025-04-01 | $206.94 | +2.6% |
| 2025-03-31 | $201.63 | −1.8% |
| 2025-03-28 | $205.39 | −1.8% |
| 2025-03-27 | $209.20 | −3.6% |
| 2025-03-26 | $216.97 | −4.4% |
| 2025-03-25 | $226.87 | −0.8% |
| 2025-03-24 | $228.62 | +2.8% |
| 2025-03-21 | $222.48 | +1.4% |
| 2025-03-20 | $219.44 | +0.6% |
| 2025-03-19 | $218.05 | +3.4% |
| 2025-03-18 | $210.85 | −3.5% |
| 2025-03-17 | $218.54 | +1.0% |
| 2025-03-14 | $216.46 | +3.1% |
| 2025-03-13 | $209.87 | −2.5% |
| 2025-03-12 | $215.35 | +3.2% |
| 2025-03-11 | $208.58 | +3.2% |
| 2025-03-10 | $202.21 | −4.9% |
| 2025-03-07 | $212.54 | +2.3% |
| 2025-03-06 | $207.69 | −9.4% |
| 2025-03-05 | $229.32 | −1.0% |
| 2025-03-04 | $231.65 | −0.3% |
| 2025-03-03 | $232.29 | −7.3% |
| 2025-02-28 | $250.54 | +0.3% |
| 2025-02-27 | $249.74 | −7.6% |
| 2025-02-26 | $270.14 | +2.2% |
| 2025-02-25 | $264.31 | −1.3% |
| 2025-02-24 | $267.72 | −5.9% |
| 2025-02-21 | $284.44 | −8.1% |
| 2025-02-20 | $309.42 | −3.8% |
| 2025-02-19 | $321.67 | −1.2% |
| 2025-02-18 | $325.60 | +2.6% |
| 2025-02-14 | $317.30 | +1.9% |
| 2025-02-13 | $311.49 | −0.7% |
| 2025-02-12 | $313.80 | +0.1% |
| 2025-02-11 | $313.58 | −2.6% |
| 2025-02-10 | $321.83 | +3.9% |
| 2025-02-07 | $309.79 | −0.6% |
| 2025-02-06 | $311.80 | −0.6% |
| 2025-02-05 | $313.83 | +2.4% |
| 2025-02-04 | $306.33 | 0.0% |
| 2025-02-03 | $306.31 | +2.1% |
| 2025-01-31 | $299.98 | −2.8% |
| 2025-01-30 | $308.55 | +5.7% |
| 2025-01-29 | $291.89 | +4.7% |
| 2025-01-28 | $278.80 | +1.4% |
| 2025-01-27 | $275.00 | −20.8% |
| 2025-01-24 | $347.44 | +0.4% |
| 2025-01-23 | $346.22 | +4.1% |
| 2025-01-22 | $332.47 | +2.7% |
| 2025-01-21 | $323.64 | +2.3% |
| 2025-01-17 | $316.36 | +0.4% |
| 2025-01-16 | $315.24 | +4.8% |
| 2025-01-15 | $300.77 | +4.1% |
| 2025-01-14 | $288.87 | +3.4% |
| 2025-01-13 | $279.24 | −8.5% |
| 2025-01-10 | $305.19 | +25.2% |
| 2025-01-08 | $243.84 | −4.6% |
| 2025-01-07 | $255.63 | −3.3% |
| 2025-01-06 | $264.28 | +4.7% |
| 2025-01-03 | $252.40 | +4.0% |
| 2025-01-02 | $242.60 | +8.4% |
| 2024-12-31 | $223.71 | −1.2% |
| 2024-12-30 | $226.32 | −0.1% |
| 2024-12-27 | $226.54 | −0.9% |
| 2024-12-26 | $228.64 | −0.5% |
| 2024-12-24 | $229.79 | +0.7% |
| 2024-12-23 | $228.28 | +0.6% |
| 2024-12-20 | $227.02 | +0.8% |
| 2024-12-19 | $225.17 | −0.3% |
| 2024-12-18 | $225.76 | −3.6% |
| 2024-12-17 | $234.24 | −2.1% |
| 2024-12-16 | $239.30 | +0.1% |
| 2024-12-13 | $239.07 | 0.0% |
| 2024-12-12 | $239.02 | +1.0% |
| 2024-12-11 | $236.60 | +1.8% |
| 2024-12-10 | $232.34 | −3.1% |
| 2024-12-09 | $239.85 | −5.4% |
| 2024-12-06 | $253.63 | −1.0% |
| 2024-12-05 | $256.09 | +0.7% |
| 2024-12-04 | $254.20 | +2.7% |
| 2024-12-03 | $247.51 | −0.8% |
| 2024-12-02 | $249.58 | −2.7% |
| 2024-11-29 | $256.56 | +1.3% |
| 2024-11-27 | $253.39 | −5.0% |
| 2024-11-26 | $266.73 | +7.2% |
| 2024-11-25 | $248.93 | −0.4% |
| 2024-11-22 | $249.89 | −0.8% |
| 2024-11-21 | $251.84 | +7.0% |
| 2024-11-20 | $235.42 | +0.4% |
| 2024-11-19 | $234.58 | +1.9% |
| 2024-11-18 | $230.28 | +2.7% |
| 2024-11-15 | $224.28 | −0.5% |
| 2024-11-14 | $225.38 | −0.3% |
| 2024-11-13 | $225.96 | −1.2% |
| 2024-11-12 | $228.70 | −3.6% |
| 2024-11-11 | $237.27 | −0.9% |
| 2024-11-08 | $239.37 | −0.9% |
| 2024-11-07 | $241.59 | +2.8% |
| 2024-11-06 | $234.99 | +0.5% |
| 2024-11-05 | $233.75 | +3.5% |
| 2024-11-04 | $225.95 | −12.5% |
| 2024-11-01 | $258.10 | −1.8% |
| 2024-10-31 | $262.96 | +0.5% |
| 2024-10-30 | $261.78 | −1.2% |
| 2024-10-29 | $265.00 | −0.7% |
| 2024-10-28 | $266.98 | +1.0% |
| 2024-10-25 | $264.41 | 0.0% |
| 2024-10-24 | $264.50 | −0.6% |
| 2024-10-23 | $266.05 | 0.0% |
| 2024-10-22 | $266.00 | −2.8% |
| 2024-10-21 | $273.72 | +1.3% |
| 2024-10-18 | $270.16 | −0.4% |
| 2024-10-17 | $271.20 | −3.1% |
| 2024-10-16 | $279.80 | +5.1% |
| 2024-10-15 | $266.15 | −2.1% |
| 2024-10-14 | $271.74 | +2.1% |
| 2024-10-11 | $266.22 | +1.5% |
| 2024-10-10 | $262.31 | 0.0% |
| 2024-10-09 | $262.28 | −6.1% |
| 2024-10-08 | $279.39 | +0.3% |
| 2024-10-07 | $278.56 | −2.4% |
| 2024-10-04 | $285.52 | +2.9% |
| 2024-10-03 | $277.37 | +4.5% |
| 2024-10-02 | $265.38 | −0.1% |
| 2024-10-01 | $265.61 | +2.1% |
| 2024-09-30 | $260.02 | +1.2% |
| 2024-09-27 | $257.00 | +0.1% |
| 2024-09-26 | $256.77 | −2.3% |
| 2024-09-25 | $262.86 | +3.7% |
| 2024-09-24 | $253.49 | −1.4% |
| 2024-09-23 | $257.12 | +0.8% |
| 2024-09-20 | $254.98 | +22.3% |
| 2024-09-19 | $208.50 | +4.1% |
| 2024-09-18 | $200.33 | −0.4% |
| 2024-09-17 | $201.23 | +1.0% |
| 2024-09-16 | $199.25 | +1.7% |
| 2024-09-13 | $195.98 | +3.2% |
| 2024-09-12 | $189.93 | +1.4% |
| 2024-09-11 | $187.25 | +3.9% |
| 2024-09-10 | $180.25 | +3.0% |
| 2024-09-09 | $174.92 | +1.0% |
| 2024-09-06 | $173.11 | −1.7% |
| 2024-09-05 | $176.07 | −0.8% |
| 2024-09-04 | $177.52 | −0.1% |
| 2024-09-03 | $177.78 |
The Google deal was announced on the morning of Oct. 6, after the last close in this chart.Release Dot 1: Release Dots 2 and 4: ReleaseRelease Dots 3 and 5: DOEDOE Source: Tiingo end-of-day closes, as traded, via KeyVex.
What an uprate is
An uprate gets more electricity out of a reactor that is already running. The companies' release describes uprates as upgrades to turbines, steam generators and digital control systems at operating plants. At the 11 units, it says, new equipment will raise thermal and electrical efficiency.Release The release says the 890 megawatts "equals the output of several Small Modular Reactors (SMRs) or a large new conventional reactor."Release
The release puts the work at six sites and doesn't name them.ReleaseRelease
View the data
| Years | Uprates approved (count) | Note |
|---|---|---|
| 1977-79 | 4 | |
| 1980-84 | 3 | |
| 1985-89 | 7 | |
| 1990-94 | 6 | |
| 1995-99 | 27 | |
| 2000-04 | 56 | |
| 2005-09 | 26 | |
| 2010-14 | 27 | |
| 2015-19 | 9 | |
| 2020-24 | 7 | The last, Millstone 3, on Nov. 9, 2021 |
| 2025-26 | 0 | None approved and none under review, as of the NRC's Sept. 15, 2026 update |
Each row of the NRC table is one unit; some orders cover two units. 2025-26 runs through the NRC's Sept. 15, 2026 update. Source: NRC, Approved Applications for Power Uprates; KeyVex's count by date approved.NRC
What the NRC's own list shows
The NRC also lists the uprate applications utilities have told it to expect. As of Sept. 8, that list held 31 units, industrywide, adding about 2,421 megawatts if all are approved, through 2032.NRC
Constellation is the applicant on 12 of them, listed from 2026 through 2030, and every one of its plant names is marked "Proprietary."NRC
Vistra's plants appear by name. Vistra has agreed to sell Meta 433 megawatts of uprates at its Perry, Davis-Besse and Beaver Valley plants, its quarterly report says. Full delivery is due by the end of 2034.10-Q The NRC's list shows those applications planned from 2029 to 2032.NRC On Oct. 5, the Energy Department offered Vistra a conditional loan commitment of up to $4.2 billion for uprates and modernization at its Pennsylvania and Ohio plants.DOE
The tech deals beside the NRC's whole recordShow chartHide chart
View the data
| Uprates | Megawatts | Note |
|---|---|---|
| The NRC's list of approved uprates (172 entries, 1977 to 2021) | 8,030 MW | The table's total, 8,030 megawatts electric; updated Sept. 15, 2026 |
| Uprates utilities expect to apply for (31 units, industrywide, through 2032) | 2,421 MW | The NRC's expected-applications table, about 2,421 megawatts electric; updated Sept. 8, 2026 |
| Google's deal with Constellation (11 reactors, announced Oct. 6, 2026) | 890 MW | First uprate expected by 2028, Constellation said |
| Vistra's uprates for Meta (Perry, Davis-Besse, Beaver Valley) | 433 MW | 213 + 80 + 140 megawatts; full delivery by year-end 2034, Vistra's 10-Q says |
| Amazon's deal at Calvert Cliffs (Announced Sept. 30, 2026) | 190 MW | Online between 2030 and 2032, Constellation said |
| Meta's deal at Clinton (Announced June 3, 2025) | 30 MW | Fully complete in 2029, Constellation's 10-K says |
The NRC's figures are its own table totals; 2,421 is approximate. The four deals' uprates are not built yet; whether each needs an NRC license amendment is not public. Sources: NRC uprate tables; Constellation's releases and 2025 10-K; Vistra's 10-Q.
Washington's push, and the risks on paper
The Energy Department is promoting uprates. Its UPRISE program, launched in March, aims to add 2.5 gigawatts of nuclear capacity by 2027 and 5 gigawatts (5,000 megawatts) by 2029. The program covers uprates, restarts and license renewals.DOE Constellation says the Google deal advances that program's goals.Release
Some free-market critics object to the federal support. "The current suite of government interventions need to end," Robert Bradley Jr. wrote of UPRISE on the free-market blog Master Resource in April.Master Resource
Constellation's own annual report names uprates among the growth plans that "could involve significant risks and uncertainties."10-K Vistra's quarterly report says supply chain constraints and labor shortages have lengthened lead times and raised costs across its industry.10-Q
Constellation's first listed uprate application is expected in the fourth quarter of 2026, plant name withheld. Whether it covers one of the Google units, the NRC's list does not say.NRC
What to watch
Constellation's first expected uprate application to the NRC, plant not named.
Meta's 20-year agreement for Clinton's output begins.
The first uprate under the Google deal is expected to be delivered, Constellation said.
Clinton's 30-megawatt uprate is expected to be complete; DOE's UPRISE goal is 5 gigawatts by then.
Calvert Cliffs' 190-megawatt uprate is to come online, under the Amazon deal.
Sources
14 sources, 7 of them public records
Public records
- Approved Applications for Power UpratesU.S. Nuclear Regulatory Commission · updated Sept. 15, 2026
- Pending Applications for Power UpratesU.S. Nuclear Regulatory Commission · updated Sept. 15, 2026
- Expected Applications for Power UpratesU.S. Nuclear Regulatory Commission · updated Sept. 8, 2026
- Constellation Energy Corp., Form 10-K for 2025SEC EDGAR · Feb. 24, 2026
- Vistra Corp., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · Aug. 10, 2026
- "Energy Department Announces $4.2 Billion Investment to Boost Nuclear Power and Help Lower Energy Costs in Pennsylvania and Ohio"U.S. Department of Energy · Oct. 5, 2026
- "The Nation's Nuclear Reactor Fleet Is on the Rise" (UPRISE)U.S. Department of Energy, Office of Nuclear Energy · March 12, 2026
Reporting
- "Google and Constellation Announce Landmark Agreement to Bring 890 MW of New Nuclear Capacity to PJM Grid as Part of Long-Term Power Deal"Constellation Energy · Oct. 6, 2026
- "Constellation and Amazon Announce 20-Year Power Purchase Agreement Adding 190 Megawatts of Nuclear Capacity at Calvert Cliffs"Constellation Energy · Sept. 30, 2026
- "Constellation, Meta Sign 20-Year Deal for Clean, Reliable Nuclear Energy in Illinois"Constellation Energy · June 3, 2025
- "Constellation to Launch Crane Clean Energy Center, Restoring Jobs and Carbon-Free Power to The Grid"Constellation Energy · Sept. 20, 2024
- "UPRISE: More Federal Nuclear Subsidization," by Robert Bradley Jr.Master Resource · April 9, 2026
Data
- End-of-day prices for CEG, and for SPY and QQQ on the chart; IEX quotes for CEG and VST on Oct. 6 (Tiingo)KeyVex · through Oct. 6, 2026
- The chart's Filings layer: KeyVex's Congress trade, insider trade, Form 144 and lobbying records for CEGKeyVex · through Oct. 5, 2026
How we got these numbers
- Megawatts are electric capacity. The NRC's approved table lists each uprate in megawatts thermal and gives a total of 8,030 megawatts electric; its expected-applications table gives approximately 2,421 megawatts electric. The approved table leaves out six capacity-recapture uprates at plants with provisional operating licenses (1969 to 1990), which its footnote names. The deals' megawatts are contracted output; how much of it will need a license amendment is not public. KeyVex's percentages divide the deals' megawatts by the NRC's 8,030 total: 890 is 11.1%; 30 + 190 + 890 = 1,110 is 13.8%.
- KeyVex counted the NRC's approved table by the date each uprate was approved: 172 rows from Sept. 9, 1977, to Nov. 9, 2021. Some rows share one order covering two units.
- Prices are end-of-day closes as traded, not adjusted for dividends. The Oct. 6 prices are IEX quotes at 10:20 a.m. ET from Tiingo, compared with the Oct. 5 close; IEX is one exchange, and the price moved through the day. The Nasdaq 100 and S&P 500 lines follow QQQ and SPY, rebased to Constellation's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's Constellation page, a selection, not every filing, and not only those tied to this story.