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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.