Constellation agrees to divest PJM assets to LS Power amid regulatory settlement - filing update

Constellation and LS Power have reached an agreement for the sale of a portfolio of power generation assets in the PJM Interconnection. The divestiture is part of a resolution with the Federal Energy Regulatory Commission and the U.S. Department of Justice regarding the Calpine transaction.

The assets involved in the transaction are located within the PJM Interconnection, which serves as the regional transmission organization for the mid-Atlantic and parts of the Midwest.

The sale is a primary component of a resolution reached with the Federal Energy Regulatory Commission (FERC) and the U.S. Department of Justice (DOJ). This resolution addresses regulatory requirements associated with the Calpine transaction.

Under the terms of the agreement, LS Power will acquire the specified generation portfolio from Constellation. The divestiture is designed to satisfy federal mandates regarding market structure and competition within the PJM region.

The announcement follows a period of regulatory oversight by federal authorities. Both companies have confirmed the agreement as a formal step in resolving the outstanding regulatory matters related to the Calpine proceedings.