1415 ET - Constellation Energy's acquisition of Calpine for $16.4 billion is set to create the nation's largest independent power producer, Gabelli Funds' Tim Winter says in a research note. He views the merger favorably, as it comes at an attractive price, should boost Constellation's earnings by $2 a share, and would expand and diversify Constellation's regional presence in the nonregulated markets of Texas, California and the PJM Interconnection, a regional transmission organization operating in 13 mid-Atlantic states and the District of Columbia. Constellation will now be bigger in Texas while having less overall exposure to the PJM region, Winter says. The supply-demand situation in those regions appears very favorable, he says. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 10, 2025 14:15 ET (19:15 GMT)
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