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Constellation Completes Acquisition of Calpine

LCG, January 7, 2026--Constellation today announced that it completed its acquisition of Calpine Corporation from Energy Capital Partners (ECP). Constellation is now the largest producer of electricity in the U.S., with electric generation facilities across the nation.

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Duke Energy Submits Early Site Permit Application to NRC for New Nuclear Reactors in North Carolina

LCG, December 30, 2025--Duke Energy announced today its submission of an early site permit (ESP) application to the U.S. Nuclear Regulatory Commission (NRC). The site is near the Belews Creek Steam Station in Stokes County, North Carolina. The submittal follows two years of work at the site, and the announcement states that the submittal is part of Duke Energy's strategic, on-going commitment to evaluate new nuclear generation options to reliably meet the growing electricity needs of its customers while reducing costs and risks.

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Industry News

Enron May Drop Selling Price to $5 Billion

LCG, Nov. 27, 2001--With the investment community casting growing doubt on the future of Dynegy Inc.'s agreement to purchase much larger Enron Corp. for $8.3 billion, Enron may try to keep the deal alive by cutting its price to about $5 billion, the Wall Street Journal reported today.

Under the stock swap agreement reached two weeks ago between Dynegy and Enron, each share of Dynegy would fetch 3.72 shares of Enron. Dynegy closed yesterday on the new York Stock Exchange at $29.25, which would place a value of $7.86 on each Enron share.

However, Enron closed at $4.01, after trading at all time lows during the day.

The Wall Street Journal said renegotiation of the two-week-old deal, and particularly the exchange ratio for the stock swap, is almost unprecedented in corporate transactions.

Clearly something had to give because of an escape clause in the agreement that give Dynegy the option to walk away from the deal if there is a material deterioration in Enron's business or assets. Recent news has painted Enron as a house of cards, burdened by $13 billion in debt and with relatively few hard assets.

Enron also is attempting to head off a liquidity crisis by negotiating to extend the maturity dates of some of its borrowings, the paper said.

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