Constellation's Acquisition of Calpine Gets FERC Approval, Advancing Its Plan to Become a Leading Energy Provider in the US.

Constellation Energy Corporation has received regulatory approval from the Federal Energy Regulatory Commission (FERC) for its acquisition of Calpine Corporation. The deal is expected to close in Q4 2025, subject to clearance from the Department of Justice and other customary conditions. The acquisition will establish Constellation as the leading provider of energy products and services for American families and businesses.

Constellation Energy Corporation (CEG) has received regulatory approval from the Federal Energy Regulatory Commission (FERC) for its acquisition of Calpine Corporation. The approval marks a significant milestone in the transaction, which is expected to close in the fourth quarter of 2025, pending clearance from the Department of Justice and other customary conditions.

The acquisition aims to establish Constellation as the leading provider of energy products and services for American families and businesses. "We appreciate FERC’s timely attention, review, and approval of this transaction," said Joe Dominguez, president and CEO of Constellation. "As electricity demand accelerates, this combination gives us the ability to best serve the nation’s industries and communities with the clean, always-on power they need to grow and thrive."

This approval is the latest step in the transaction following earlier approvals by the New York Public Service Commission and the Public Utility Commission of Texas. Constellation, a Fortune 200 company headquartered in Baltimore, is the nation's largest producer of reliable, emissions-free energy. The company's annual output is nearly 90% carbon-free, with hydro, wind, and solar facilities paired with the nation's largest nuclear fleet providing power for approximately 16 million homes, or about 10% of the nation’s clean energy.

Constellation is committed to investing in innovative technologies to drive the transition to a reliable, sustainable, and secure energy future. The acquisition of Calpine Corporation will bolster Constellation's capabilities in this regard.

[1] https://www.nasdaq.com/press-release/constellations-deal-calpine-approved-federal-energy-regulatory-commission-2025-07-24
[2] https://www.stocktitan.net/news/CEG/constellation-s-deal-with-calpine-approved-by-federal-energy-320cixhadejf.html