Microsoft may pay Constellation premium in Three Mile Island power agreement, Jefferies says (Sept 23)

Mustang Energy
Sep 23, 2024
1 min read

Sept 23 (Reuters) - Microsoft (MSFT.O), opens new tab is estimated to pay Constellation Energy (CEG.O), opens new tab a premium as part of a long-term power purchase agreement (PPA) related to the Three Mile Island nuclear plant in Pennsylvania, Jefferies analysts said on Monday.

Rising demand for electricity from data centers to power AI technology has created a need for clean and sustainable sources of energy such as nuclear power.

Microsoft signed a deal with Constellation to help it restart a unit of its Three Mile Island nuclear plant, the companies said on Friday, sending the utility firm's shares up 22%.

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