Why These Energy Stocks are Gaining This Week

7. Constellation Energy Corporation (NASDAQ:CEG)

Share Price Gains Between July 23 – July 30: 6.66%

Constellation Energy Corporation (NASDAQ:CEG) is the largest producer of carbon-free energy in the US with over 34.2 GW of generating capacity, enough to power 16 million homes and businesses.

Constellation Energy Corporation (NASDAQ:CEG) is near its all-time high after reports that the company has secured approval from the Federal Energy Regulatory Commission for its previously announced $16.4B acquisition of Calpine Corporation. The development marks the latest step forward in the transaction following earlier approvals by the New York Public Service Commission and the Public Utility Commission of Texas.

The deal is expected to add $2 billion to Constellation Energy Corporation (NASDAQ:CEG)’s free cash flow annually and create the largest ‘low emission’ power generation company with nearly 60 GW of capacity from zero- and low-emission sources, including nuclear, natural gas, and geothermal.