Talen Energy down after agency rejects Amazon data center deal – 04/11/2024 at 11:27

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

November 4 – ** Talen Energy TLN.O shares down 14.3% to $149.02 in pre-market trading

** The Federal Energy Regulatory Commission (FERC) on Friday rejected a modified interconnection agreement for an Amazon data center connected directly to a nuclear power plant in Pennsylvania

** The news weighs on other nuclear power companies: Vistra VST.N down 5.9%, Constellation Energy CEG.O down 7.8% and Public Service Enterprise

PEG.N down 3.8%

** Brokerage Jefferies said in a note Sunday that the rejection would likely result in TLN and Amazon following a new path rather than a deal through FERC

** Brokerage firm Jefferies said in a note Sunday that the rejection is likely because Amazon and TLN are pursuing a new path rather than reaching a deal through FERC

** Data centers represent 17% of their valuation for Co, 44% for CEG, 22% for VST and 8% for PEG