FERC Challenge of Constellation-Calpine Deal
By Tyson Slocum
Today Public Citizen joined with PennFuture, Clean Air Council and Earthjustice to protest the $26.6 billion deal for Constellation Energy to acquire Calpine from the private equity firm Energy Capital Partners in Federal Energy Regulatory Commission docket EC25-43. We demand that FERC block the transaction to prevent Constellation and Energy Capital Partners from harming the public interest. If the Commission does not block the transaction, it must impose significant structural and behavioral conditions to protect the public interest, including the requirements that:
1. Constellation divests all the Calpine peakers and combined cycle units in PJM;
2. Constellation adds low-cost renewable generation to PJM before it may withdraw the nuclear units;
3. Constellation substantially invests in improving demand elasticity by funding projects benefitting energy-burdened consumers;
4. Constellation extend and expand the behavioral conditions in its current agreement with the PJM independent market monitor;
5. Constellation relinquishes any additional voting interests it would obtain in PJM stakeholder processes;
6. Energy Capital Partners to not retain an ownership in Constellation.
Read the full filing here: PPC Protest – EC25-43