Constellation Energy Shares Plummet 9.7% as New Auction Plan Unveiled

Constellation Energy shares fell 9.7% on Friday due to a new plan unveiled by the Trump Administration and local governors in the Mid-Atlantic PJM utility grid regions. The plan aims to complicate utilities' ability to charge more for their existing power generation assets and impose price caps on existing power sources. Constellation has a significant portion of its power generation sold into the PJM region, making it vulnerable to the new plan. The company's stock has been riding high on surging demand for electricity from AI data centers, but the new plan could impact its profitability.