Constellation Energy (CEG) Stock Gains as New York Plans New Nuclear Plant

Constellation Energy Corporation (NASDAQ:CEG) is one of the top 10 nuclear energy stocks to invest in for the next decade. On June 23, the company’s stock climbed following reports that New York state plans to build one of the first new U.S. nuclear power plants in over a generation.

Reports indicate that New York Governor Kathy Hochul directed the New York Power Authority to add at least 1 gigawatt of new nuclear power generation. The New York Power Authority is tasked with identifying a site in upstate New York and determining the reactor design, which could involve either one large reactor or multiple smaller ones. The initiative marks a significant shift in U.S. nuclear development, as only five new commercial reactors have come online since 1991.

Hochul stressed that the project could progress faster due to President Donald Trump’s recent executive orders aimed at “accelerating nuclear power development by overhauling regulations and streamlining permitting processes.” The Governor stated, “We must radically increase supply, starting now,” and added, “If we don’t increase our capacity over the next decade, we will see rolling blackouts and other disruptions.”

Constellation Energy owns or holds majority stakes in New York’s three currently operating nuclear plants, which are among the potential sites being considered for the new plant.

Constellation Energy Corporation (NASDAQ:CEG) is an energy company that produces and sells electricity, natural gas, and clean energy solutions. The company serves a broad range of customers—residential, commercial, industrial, public sector, and municipal utilities—across multiple U.S. regions, including the Mid-Atlantic, Midwest, New York, and Texas.

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