Utilities Shares Jump on Three Mile Island Restart Plan — Utilities Roundup
Shares of power producers and utilities surged after a deal between Constellation Energy and Microsoft to restart Pennsylvania's Three Mile Island, the site of the country's worst nuclear power accident, to help power the tech giant's growing artificial intelligence ambitions.
Constellation will revive the plant's undamaged reactor, which was too costly to run and closed in 2019, and sell the power to Microsoft. The plan signals the gargantuan amount of power needed for data centers for AI, along with the tech industry's thirst for a carbon-free, round-the-clock electricity source needed to meet climate goals.
Vistra Corp., another nuclear owner, is up for its 10th trading day in a row.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
(END) Dow Jones Newswires
September 20, 2024 17:15 ET (21:15 GMT)
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