Oklo Targets First Aurora Microreactors in Idaho by Late 2027
Oklo, the microreactor developer that went public through a SPAC merger on May 10, 2024, is targeting deployment of its first Aurora Powerhouse microreactors in Idaho in late 2027 or early 2028, with analysts expecting revenue to rise to $2 million in 2026, $8 million in 2027, and $53 million in 2028. The Aurora generates only 1.5 MWe on its own but is designed to be deployed alongside additional microreactors to build plants capable of generating up to 75 MWe, far below the over 1,000 MWe of a conventional nuclear plant, though its modular, factory-prefabricated design suits remote, off-grid sites and data center operators. The Nuclear Regulatory Commission approved Oklo's Principal Design Criteria for the Aurora in June, and the company achieved criticality at Groves One, its first pilot isotope-production reactor, in early August, deploying it in just 229 days. Oklo's partnership with Meta Platforms, announced in January, aims to deliver 1.2 GW of power at a nuclear campus in Ohio, with initial phases expected online around 2030, and the company is working to convert a multi-gigawatt pipeline of non-binding letters of intent, including a 14 GW agreement with Switch, into firm Power Purchase Agreements. Oklo also signed an LOI to buy HALEU from Centrus Energy, one of the only companies authorized to produce and enrich HALEU in the United States, while carrying a $7.4 billion market cap that trades at 139 times its 2028 sales.
Alliant Energy Plans $13.4 Billion Investment Through 2029
Alliant Energy is planning nearly $3 billion of infrastructure investment in 2026 and $13.4 billion through 2029, an approximately 12% compound annual growth rate in investment across generation, transmission and distribution. The company said the spending, including allowances for funds used during construction, is expected to support 5-7% earnings growth through 2029. Alliant has secured 3.4 gigawatts of contracted large-customer demand, which it expects to support nearly 60% growth in projected electricity demand by 2031, and it signed a 370-megawatt Iowa electric service agreement, with additional opportunities of 2-4 gigawatts progressing. The company recently received final permits to proceed with construction of the 720-megawatt Bobcat Energy Center in Marshalltown, Iowa, a natural gas-fired facility intended to add flexible generation capacity. For comparison, PPL Corporation plans to invest about $23 billion through 2029 to support approximately 10.3% average annual rate-base growth, while FirstEnergy plans $36 billion of capital investments through 2030 under its Energize365 program.
FEPC Chairman Apologizes Over Chubu Electric's Hamaoka Nuclear Plant Data Scandal
Nozomu Mori, chairman of the Federation of Electric Power Companies of Japan, said at a news conference on the 18th that regarding the data falsification issue at Chubu Electric Power's Hamaoka Nuclear Power Plant Units 3 and 4, "neglecting our responsibility to provide accurate information is absolutely unacceptable," and apologized, saying, "On behalf of the industry that bears responsibility for nuclear power operations, I offer my deepest and most sincere apologies for having invited strong distrust." At Chubu Electric Power, following the investigative committee's report on the misconduct, the president and others have announced their resignations, and the company has also decided to withdraw its application for safety screening toward restarting the reactors. Mori said, "I want them to steadily advance reforms under the new leadership, including strengthening governance and addressing the organizational culture."
FEPC Chairman Apologizes Over Chubu Electric's Hamaoka Nuclear Plant Data Fraud
Nozomu Mori, chairman of the Federation of Electric Power Companies of Japan, said at a news conference on the 18th, regarding the data falsification issue at Chubu Electric Power's Hamaoka Nuclear Power Plant Units 3 and 4, that "neglecting the responsibility to provide accurate information must never be tolerated," and apologized, saying, "On behalf of the industry engaged in nuclear power operations, I offer my deepest and most sincere apologies for having invited strong distrust." At Chubu Electric, following the investigative committee's report on the misconduct, the president and other executives have announced their resignations, and the company has also decided to withdraw its application for safety screening aimed at restarting the reactors. Mori said, "I want them to steadily advance reforms under the new structure, including strengthening governance and addressing organizational culture."
Emera Q2 Adjusted EPS Falls to $0.69 but Reaffirms 5% to 7% Growth Through 2030
Emera reported second-quarter adjusted earnings per share of $0.69, down from $0.79 a year earlier, while reaffirming its long-term growth plan. The company said it remains positioned to grow adjusted earnings per share above its 5% to 7% annual target range in 2026 and reiterated that same 5% to 7% commitment through 2030. Adjusted net income fell to $212 million from $236 million, and reported net income dropped to $105 million from $135 million, weighed down by a $59 million after-tax increase in mark-to-market losses and a $19 million after-tax loss on the Grand Bahama sale. Year-to-date operating cash flow before working capital changes climbed 8% versus the first half of 2025, and Emera invested more than $1.7 billion in infrastructure in the first six months while staying on pace for a full $4 billion capital plan in 2026. Regulatory approval came through for the New Mexico Gas Company transaction and the sale of Grand Bahama Power Company closed in May, while Gas Utilities and Infrastructure adjusted net income rose to $55 million in the quarter from $48 million and to $191 million year to date from $168 million.
Kansai Electric halts Mihama No. 3 reactor again after water leak near piping valve
Kansai Electric Power said on the 18th that it halted operations at the Mihama No. 3 reactor, which was undergoing adjustment operations, after a water leak was confirmed near a valve on piping that does not contain radioactive material. The timing for restarting operations is undecided, and the company said there is no impact on the environment. According to Kansai Electric, at around 3:45 p.m. on the 17th, an employee conducting a visual inspection confirmed water droplets leaking from insulation material around an air vent valve on the piping. Although there was no impact on reactor operations, the reactor was manually shut down at around 4 a.m. on the 18th.
Oklo Jumps 13%, NuScale Climbs 10% After House Passes Ratepayer Protection Act
The U.S. House of Representatives passed the Ratepayer Protection Act by a near-unanimous margin, sending shares of nuclear reactor developers Oklo and NuScale Power sharply higher in Thursday morning trading. Oklo stock rose 13% to $40.37, while NuScale Power stock climbed 10% to $9.14, far outpacing the Global X Uranium ETF, which gained 4% to $42.92, and the SPDR S&P 500 ETF Trust, which rose 1% to $762.04. The bill would require large data centers to pay for the power generation and transmission upgrades their electricity demand creates rather than spreading those costs across other utility customers, though it still needs Senate approval before becoming law. Oklo's bull case rests on a signed pipeline that includes a 12 GW master power agreement with Switch and a 500 MW letter of intent with Equinix that included a $25 million pre-payment, but the company targets first commercial power delivery only in late 2027 to early 2028 and remains pre-revenue in its core reactor business, with shares down 44% year to date. NuScale Power, the only U.S. NRC design-certified small modular reactor technology provider, ended Q2 2026 with $1.9 billion in cash and investments, and its growth story centers on ENTRA1 Energy advancing discussions with TVA toward a definitive PPA for up to 6 GW of capacity, described as potentially the largest nuclear deployment program in U.S. history, though its stock is down 36% year to date and trades near its 50-day moving average of $9.06.
PG&E Adds $30 Million Second Round of Community Microgrid Awards
Pacific Gas and Electric Company announced new grant agreements for community microgrid projects moving into development and the selection of six new projects in the second application window of its Microgrid Incentive Program. The second wave directs $30 million to projects serving more than 2,200 customers and supporting critical facilities including schools, fire stations and health centers, with individual awards ranging between $2-6 million each. That $30 million is the second tranche of the program's PG&E funding, following the $43 million PG&E announced in 2025 for nine initial projects, bringing the combined authorized community microgrid investments to more than $73 million. In the first round, three proposed projects in Lake County are advancing a first-of-its-kind approach known as Firemain Linked Auxiliary Supply/Hydraulic Energy Storage, pairing tens of megawatts of locally generated solar with pumped hydroelectric storage, and are moving into early development with geotechnical core boring and initial test well drilling planned. In the second round, the Pescadero project in San Mateo County will be led by WestLight Energy, formerly Peninsula Clean Energy, and will integrate a roughly 1.5 megawatt solar system and a 2 megawatt battery energy storage system to support at least 24 hours of standalone operation. The Microgrid Incentive Program is a statewide $200 million competitive grant program, with $79.2 million allocated to PG&E, $83.3 million to Southern California Edison and $17.5 million to San Diego Gas and Electric, and awards of up to $14 million each.
ENGIE to Supply Up to 568 MW of Renewable Power for Oracle's Texas Operations
ENGIE North America announced renewable energy supply agreements that will provide up to 568 MW of renewable electricity for Oracle's growing operations in Texas. The power will come from a portfolio of wind energy resources serving the Electric Reliability Council of Texas market, part of ENGIE's roughly 12 GW of new renewable generation and battery storage capacity built across North America over the past six years. Anne-Laure Chassanite, Interim CEO of ENGIE North America, said the agreements reflect the strength of the company's portfolio and its ability to deliver customized energy solutions for customers expanding in Texas. Julia Robin, Head of Infrastructure Planning and Sourcing for Oracle Cloud Infrastructure, said the deals advance Oracle's goal to match 100 percent of its AI data center electricity use with carbon-free electricity by 2035 without shifting costs to Texas consumers. ENGIE North America, based in Houston, has approximately 12 GW of power generation in operation or under construction across North America, representing $11 billion of capital employed.
Kansai Electric Overcharges Customers on Electricity Rates, Impact Estimated at About 14 Million Yen
Kansai Electric announced on the 17th that it had miscalculated the costs underlying its electricity rates and had been overcharging customers in regulated segments, including ordinary households, since April 2024. The impact is estimated at about 14 million yen, or at most 1 yen per month per contract. On the electricity rate front, Chubu Electric also announced overcharging on the 10th of this month, with the impact said to be at least around 1.2 billion yen. Kansai Electric said it apologizes for causing concern and is considering how to refund the amounts.
Kansai Electric Overcharges Customers About 14 Million Yen
Kansai Electric Power announced on the 17th that it had miscalculated the costs underlying its electricity rates and had been overcharging customers in regulated sectors, including ordinary households, since April 2024. The impact is estimated at about 14 million yen, or at most 1 yen per month per contract. On the electricity rate front, Chubu Electric Power also announced overcharging on the 10th of this month, with the impact estimated at at least around 1.2 billion yen. Kansai Electric said it apologizes for causing concern and is considering how to refund the money.
ISO New England Picks Eversource Joint TIDE Transmission Project as Preferred Solution
ISO New England has selected Eversource's joint Transmission Initiative Down East project as the preferred longer-term transmission solution in its competitive solicitation process. The TIDE project would expand transmission capacity between Maine and New Hampshire, easing regional congestion and supporting affordability, and could integrate up to 1,200 megawatts of future onshore wind generation in northern New England. According to ISO New England's analysis, TIDE is projected to deliver a more than 2-to-1 cost-benefit ratio, including $1.42 billion in production cost and congestion savings, $1.30 billion in avoided capital investment, and $694 million in avoided transmission investment. Eversource's portion centers on upgrades and replacement within existing rights-of-way in New Hampshire, including a new 18-mile, 345 kilovolt line, a rebuild of an existing 345 kV line from a two-pole, H-frame design to a single-pole, reconductoring of another existing 345 kV line, and voltage and power quality equipment, with additional work in Maine and Massachusetts. The project still requires engineering, environmental, permitting and regulatory reviews, with construction anticipated to begin in 2029 pending all state and regulatory approvals.
Constellation Energy Targets 20% Annual EPS Growth Through 2029 on Nuclear and Clean-Power Expansion
Constellation Energy Corporation is extending the life of its nuclear fleet and expanding its clean-power generation capacity as it positions itself to capture rising U.S. electricity demand, particularly from data centers. The company's 55-gigawatt diversified generation portfolio supplies about 10% of U.S. clean energy, and the Calpine acquisition further expanded its capacity. Constellation is pursuing license renewal applications for Ginna and Nine Mile Point Unit 1 targeting operations through 2049, plans to restart the Crane Clean Energy Center in 2027 subject to regulatory approvals, and sees opportunities to add about 1,000 megawatts of uprated capacity through technology upgrades. Constellation expects base earnings per share to grow more than 20% through 2029, followed by growth exceeding 10% over long-term rolling three-year periods. The Zacks Consensus Estimate points to 2026 and 2027 EPS increases of 29.29% and 8.09% year over year, respectively, while the company's trailing-12-month return on equity of 14.89% sits well ahead of the industry average of 7.14%.
Shell to Sell Rhode Island Power Plant to Constellation for $715 Million
Shell plc announced on September 10 that it had agreed to sell its interest in RISEC Holdings to Constellation Energy Corporation for $715 million. RISEC owns the Rhode Island State Energy Center, a 609 MW natural gas electric generation facility serving the New England power market. At the same time, Shell will acquire 100% equity in Hunlock Creek Generating, which owns 169 MW of natural gas-fired generation capacity in Pennsylvania. Both transactions are expected to close in the first quarter of 2027, subject to regulatory approvals. Constellation said the RISEC acquisition is expected to be immediately accretive to its operating earnings and to generate returns above its 10% unlevered return threshold, and that the deal will not impact its plans to execute $5 billion in authorized share repurchases by the end of 2027.
Kansai Electric and Tohoku Electric signal intent to join Mutsu interim storage facility
It was learned on the 16th that, in addition to Tokyo Electric Power Company Holdings and Japan Atomic Power Company, Kansai Electric Power and Tohoku Electric Power have indicated their intent to participate in the interim storage facility in Mutsu, Aomori Prefecture, which temporarily stores spent nuclear fuel from nuclear power plants.
Fortum Ties Loviisa Nuclear Output to Google in Multi-Decade Power Deal
Fortum Oyj has signed a multi-decade power purchase agreement with Google that links its future Loviisa nuclear output to the tech company, giving the utility clearer long-term revenue visibility around its planned lifetime extension investments. The deal comes as Fortum shares have returned 19.3% over the past month, 28.3% year to date, and 59.3% on a one-year total shareholder return basis. Fortum is also executing a sizable fixed cost reduction program that will lower its recurring annual fixed cost base by €100 million by 2026, while leverage remains low at 1.0 times and liquidity is very strong. Against a narrative fair value of €20.37 and a last close of €23.73, the stock trades at a premium that one popular narrative labels 16.5% overvalued, though a Simply Wall St discounted cash flow model estimates future cash flows support a value of €45.92 per share, 48.3% above the current price. The narrative could shift quickly if rising tax and regulatory costs bite harder than expected, or if hydro and nuclear availability disappoints.
RWE Signs Masdar Offshore Wind Memorandum of Understanding
RWE has signed a memorandum of understanding with Masdar focused on offshore wind projects, placing long-term growth in renewables at the center of the latest discussion around the stock. RWE last closed at €58.50, while the most followed narrative pegs fair value at about €67.58, implying roughly 13% undervaluation. That bullish framework rests on policy tailwinds in core markets, including the U.K. retention of a single price zone, extension of CfD periods to 20 years, higher auction price caps, and the new U.S. "Big Beautiful Bill" with tax incentives, which are expected to provide greater revenue visibility and de-risk project cash flows. Against that, the SWS DCF model points in the opposite direction, suggesting the shares trade well above an estimated future cash flow value of €31.97, which screens as overvalued on that lens. Weak wind conditions and tight renewables supply chains could also strain RWE project returns and cash flow.
Chubu Electric President Vows to Strengthen Regional Dialogue on Hamaoka Nuclear Plant
Chubu Electric Power President Shingo Hayashi said on the 15th, at the nuclear policy special committee of the Omaezaki City Assembly in Shizuoka Prefecture, where the Hamaoka Nuclear Plant is located, that he explained the company's approach to preventing recurrence based on the report of the investigation committee into data falsification. Hayashi stated, "We will return to the fundamental principle that repeated dialogue with the local community is of utmost importance, and we intend to review our regional affairs organization," indicating a policy of relocating the Hamaoka regional office outside the plant grounds to increase contact points with local residents. Hayashi emphasized, "We will increase opportunities for dialogue with local residents more than ever before," and made clear that incoming President Minoru Yasui, who will take over after Hayashi resigns on the 30th of this month, will visit the city at an early date and provide a fresh explanation regarding regional affairs. He also reiterated that while the application for regulatory review of Hamaoka Units 3 and 4 will be withdrawn, the company has not given up on restarting them.
Chubu Electric President Vows to Strengthen Regional Dialogue on Hamaoka Nuclear Plant
Chubu Electric Power President Shingo Hayashi said on the 15th, at the nuclear policy special committee of the Omaezaki City Assembly in Shizuoka Prefecture, where the Hamaoka Nuclear Plant is located, that he explained the company's approach to preventing recurrence based on the report of the investigation committee into data falsification. Hayashi stated, "We will return to the fundamental principle that repeated dialogue with the local community is of utmost importance, and we intend to review our regional affairs organization," indicating a policy of relocating the Hamaoka regional office outside the plant grounds to increase contact points with local residents. Hayashi emphasized, "We will increase opportunities for dialogue with local residents more than ever before," and made clear that incoming President Minoru Yasui, who will take over after Hayashi resigns on the 30th of this month, will visit the city at an early date and provide a fresh explanation regarding regional affairs. He also reiterated that while the application for regulatory review of Hamaoka Units 3 and 4 will be withdrawn, the company has not given up on restarting them.
Southern Approves 1,137 MW of Solar PPAs and Data Center Backup Deal
Southern has approved 1,137 MW of new solar power purchase agreements along with a new backup power deal for a data center campus, adding long-term contracted revenue to the utility's portfolio. The approvals put a fresh spotlight on how Southern's earnings stack up against its current valuation, with the stock trading at a P/E of 21.5x, slightly above the Electric Utilities industry average of 20.1x and a touch higher than its peer group at 21.1x. Southern has delivered a total return of 63.3% over the past 5 years. Because the newly approved solar contracts and backup power deal are tied to long-term service and power agreements, the market may be willing to keep paying a modest premium multiple for earnings tied to regulated or contracted cash flows. One top community narrative on Simply Wall St puts Southern at 14% undervalued, citing the successful operation and integration of the new Vogtle nuclear units alongside ongoing grid enhancements.
Hamaoka Restart Debate Premature, Safety Must Come First: Industry Minister
At a post-cabinet press conference on the 15th, Minister of Economy, Trade and Industry Akazawa Ryosei said that it would be "inappropriate to discuss the matter lightly" regarding Chubu Electric Power's indication that it may in the future once again file for a restart of the Hamaoka nuclear plant in Omaezaki, Shizuoka Prefecture, which the company had decided to withdraw, expressing the view that such discussion is premature. He stressed that thorough measures to prevent a recurrence of the data falsification problem and ensuring safety are preconditions.
NextEra and Dominion Expand Virginia Benefits Package in Merger Bid
NextEra Energy and Dominion Energy have sweetened their proposed merger with an expanded package of customer benefits and Virginia investment commitments as they seek regulatory approval. The revised deal doubles previously proposed residential bill credits from two years to four years, giving eligible customers $10 per month, or $480 in relief over the four-year period. The companies said they would work with the Virginia State Corporation Commission to redirect credits that otherwise would have gone to large-scale data centers toward residential customers, and they are offering another $100 million for Dominion's EnergyShare bill assistance program through 2038. NextEra would maintain Dominion's current Virginia employee headcount for five years and create 600 additional NextEra jobs, with suppliers expected to add another 400 positions, while a new NextEra office tower would be built beside Dominion's existing Richmond headquarters at shareholder expense to serve as a co-headquarters. Dominion Energy Virginia would remain separately regulated by the Virginia State Corporation Commission, which would continue to review and set base rates.
Chubu Electric's own justification theory behind Hamaoka nuclear data falsification; successive chiefs resign
The data falsification issue over earthquake assumptions for Units 3 and 4 of Chubu Electric Power's Hamaoka nuclear plant has led to the resignation of President Shingo Hayashi and other successive top executives. In a report released on the 14th, the company's investigation committee pointed out that an "in-house justification theory" existed within the company to dismiss any findings that stood in the way of achieving the goal of early restart. The report analyzed that, regarding the long-standing misconduct, "there were many opportunities to correct course through internal and external warnings, but they were never used," and concluded that logic valid only inside the company, such as "as a result, there is no problem with the safety of the Hamaoka nuclear plant," "the Nuclear Regulation Authority's findings are unreasonable and unacceptable," and "we must achieve an early restart," fostered a corporate culture that shut out dissent. The committee cited correcting this logic as an urgent task and recommended, as measures to prevent recurrence, assigning compliance personnel to departments requiring technical expertise and promoting personnel rotation in specialized departments. Chubu Electric, saying the "importance is unchanged in any way" for the Hamaoka plant, for which it has decided to withdraw its restart application, intends to proceed with procedures for a new application, but lawyer Makoto Ushijima sharply criticized the company, saying, "Governance is not functioning at all. Chubu Electric as it stands has no qualification to handle a nuclear plant of importance to Japan."
Chubu Electric Hamaoka Nuclear Plant Earthquake Data Manipulation Widened, Investigation Committee Report Finds
In the misconduct case involving seismic assumption data at Chubu Electric's Hamaoka nuclear plant, a report by an investigation committee of outside lawyers has revealed how the inappropriate manipulation of data used to formulate design-basis earthquake ground motions gradually expanded. When the company applied to the Nuclear Regulation Authority in 2014 and 2015 for the safety review of Hamaoka Units 3 and 4, it set the design-basis ground motion at a maximum of 1,200 gal. According to the report, the company initially adopted a method of creating 20 sets of randomly generated seismic waves and selecting the one closest to the average as the representative wave, but when the review process called for additional faults to be taken into account, it switched from 2018 onward to a method of arbitrarily selecting the representative wave in order to avoid undesirable representative waves that exceeded assumptions. The report pointed to the motive as wanting to avoid a situation in which seismic ground motions far exceeded assumptions and, in some cases, required construction work that would hinder its target for restarting the reactors. In 2019, the department in charge of seismic assumptions showed trial calculations to the department in charge of seismic design and sought its opinion, and when problems were pointed out, it sometimes redid the calculations and selected a different representative wave candidate. The inappropriate manipulation also occurred in dealings inside and outside the company: at review meetings of the Nuclear Regulation Authority, it fabricated and submitted data after the fact claiming the selection had been made by the method it had described, and in response to a 2021 internal report it likewise created additional data. Even after the Nuclear Regulation Authority began an investigation last May following an external tip-off, the misconduct continued, with the company creating data designed to make it appear that appropriate methods had been used.
NextEra and Dominion Sweeten Virginia Merger Deal With Jobs and Bill Credits
NextEra Energy and Dominion Energy announced Monday they will extend a $10 monthly residential bill credit in Virginia to four years from two years and add 600 new jobs as they seek approval to merge. The companies said the commitments, made in response to feedback from policymakers, also include a new shareholder-funded co-headquarters tower in downtown Richmond, more money toward workforce development, a $100 million increase to a low-income financial assistance program through 2038, and maintaining current Virginia employment levels for five years. The extended residential credit would largely be paid for by ending bill credits that previously would have gone to large data center customers, with NextEra CEO John Ketchum saying both companies believe data centers need to pay their own way. NextEra disclosed its plan to acquire Dominion in May, a deal the companies say would create the world's biggest regulated electric utility business by market capitalization. Virginia Governor Abigail Spanberger, who has formally intervened in the state regulatory proceedings and said she is deeply skeptical of the acquisition, is reviewing the proposal, while legislative leaders including House Speaker Don Scott and Senate Majority Leader Scott Surovell called it a step in the right direction. The Virginia State Corporation Commission will hold an evidentiary hearing in mid-November, and the companies expect the deal to close in the second half of 2027.
Samsung Falls 3.85% as $18.7 Billion Power Prepayment Demand Rejected
Samsung Electronics shares fell 3.85% to 249,500 won in Seoul Monday as investors weighed a broad retreat in AI-linked stocks against a proposed electricity-infrastructure bill for Korea's next chip factories. Korea Electric Power proposed roughly 25 trillion won, or $18.7 billion, in advance payments from Samsung and rival SK Hynix to secure electricity for planned semiconductor mega-clusters, an arrangement both companies rejected, according to Reuters. Samsung is also preparing to introduce ASML's High-NA lithography into memory-chip manufacturing from 2028, underscoring its push at the advanced end of production. The company carries a GF Score of 92 out of 100, with strong profitability, growth, financial strength and momentum, while GF Value remains its clear weak spot. Rejecting the upfront demand preserves Samsung's financial flexibility today, but the underlying power requirement for the AI chip buildout remains unresolved.
Greencoat Renewables PLC reported net cash generation of EUR60 million in H1 2026, down from EUR65 million in H1 2025, underpinning a net dividend cover of 1.6x versus 1.7x a year earlier and ahead of the 1.2x guidance issued in December 2025, with full-year 2026 cover expected around 1.5x. Revenue came in at EUR157 million, down 2% on a reported basis but up 4% like-for-like after adjusting for the EUR156 million Irish portfolio disposal in early 2025, while production rose 6% like-for-like but finished 6% below budget as Q1 wind resource ran at minus 10%. EBITDA was flat at EUR90 million, operating expenses fell to EUR67 million from EUR70 million, and net asset value declined 4% to EUR1.1 billion, or EUR97.2 per share, down EUR1.8 from December, largely on a close to 10% reduction in the German power price curve. Gearing stood at 53% against a target of mid-40s by the end of 2027, with 89% of debt fixed at a weighted average cost of 3.5%, EUR139 million of cash on balance sheet and EUR240 million of RCF capacity. The company announced a EUR100 million buyback program, with the first EUR25 million tranche complete and a second EUR25 million tranche in progress at an average discount of 23%, and said its portfolio review is complete with formal disposal processes underway expected to add in excess of EUR250 million of liquidity and more than EUR300 million of assets expected to crystallize by mid-to-end of next year. Greencoat also disclosed a 15-month Borkum PPA for 450 GWh at EUR96 per MWh, a EUR6 per MWh premium to the H1 price of EUR90 per MWh, and said its Drogheda Energy Park data center platform is at an initial 32 MW with capacity to scale, targeting a cash-on-cash return of more than 3x.
PPL's Kentucky Pipeline Jumps 6% to 13.7 GW on Data Center Demand
PPL Corporation reported a 6% sequential increase in its Kentucky economic development pipeline to 13.7 gigawatts of potential load growth in its second-quarter 2026 update, comprising 11.6 gigawatts from data centers and 2.1 gigawatts from manufacturing and other projects. Projects backed by signed reimbursement agreements rose to 1.3 gigawatts from roughly 0.9 gigawatts in the first quarter of 2026. PPL's probability-weighted forecast points to 3.7 gigawatts of new load by 2032, more than double the amount in its 2025 Certificate of Public Convenience and Necessity filing, and the company may file a new CPCN by year-end for resources including the 266 megawatts Lewis Ridge project, 400 megawatts of deferred batteries and additional natural-gas generation. Those projects could represent $3.5 billion to $4 billion of incremental investment between 2027 and 2032, part of PPL's roughly $23 billion investment plan through 2029 that supports annual rate-base growth of 10.3% and earnings per share growth at the upper end of its 6-8% target. The Zacks Consensus Estimate implies 2026 and 2027 EPS increases of 7.18% and 8.32%, respectively, while PPL's debt-to-capital of 57.46% sits below the electric power industry's 61.32% and its shares have fallen 12.8% over the past six months versus an 11.1% industry decline.
Dominion and NextEra Propose $1 Billion-a-Year Virginia Supplier Program
Dominion Energy and NextEra Energy said they would establish a Virginia supplier program worth up to $1 billion annually for five years if their proposed merger is approved. The program would direct spending toward contractors, suppliers and service providers in Virginia. The companies also proposed extending monthly $10 bill credits to four years from two and increasing Dominion's low-income financial assistance by $100 million through 2038. Their commitments include a $100 million workforce development fund, an annual energy summit in the state, and maintaining the current employee headcount there for five years, while the combined company would get a shareholder-funded co-headquarters tower in state capital Richmond. Virginia Governor Abigail Spanberger said in August she would intervene in regulatory review of the merger, pressing for commitments on power affordability, job protections and clean energy investments. Shareholders of both companies approved the proposed $66.8 billion merger earlier this month, and the deal, awaiting regulatory approvals, is expected to close in the second half of 2027.
Chubu Electric's Hamaoka Units 3 and 4 Restart Process Left Completely Blank
The report of the investigation committee set up by Chubu Electric Power has been released, once again highlighting the seriousness of the data falsification surrounding the earthquake assumptions for the Hamaoka nuclear plant. Chubu Electric announced it is withdrawing the safety review application that was the precondition for restarting Units 3 and 4, leaving the restart process completely blank. According to the Nuclear Regulation Authority, there has never been a case in which an application was withdrawn because of wrongdoing on the operator's side. An official of the authority pointed out that Chubu Electric's application content is currently not in a trustworthy state, and said that if the company reapplies, the review will have to start over from the beginning. The Green Transformation Decarbonized Power Source Act, which took full effect last year, made it possible to operate aging nuclear plants for more than 60 years, but periods during which operation was halted on the utility's own responsibility are excluded, so at the Hamaoka plant, where falsification is said to have occurred from the time of application, operating beyond 60 years is seen as difficult. Unit 3 has been in operation for 39 years, and Unit 4 reaches 33 years this month, so Chubu Electric appears likely to face a difficult decision.
NextEra and Dominion Expand Virginia Benefits Package for Proposed Merger
NextEra Energy and Dominion Energy announced an expanded Virginia benefits package tied to their proposed combination, doubling residential bill credits from two years to four years and adding 1,000 new direct jobs in the Commonwealth. The enhanced package would extend $10 per month in bill credits to four years by redirecting the portion of credits that would otherwise go to large-scale data centers toward residential customers, and would increase EnergyShare, Dominion Energy's shareholder-funded energy bill assistance program, by $100 million through 2038 while holding customers harmless from all merger costs. NextEra Energy would maintain current employee headcount levels in Virginia for five years, add 600 new NextEra Energy jobs in Virginia and work with suppliers expected to bring 400 additional jobs, and would build at shareholders' expense a new NextEra Energy office tower in Richmond beside the existing Dominion Energy headquarters as part of the combined company's co-headquarters. The companies would contribute $100 million to a Virginia workforce development fund and establish up to a $1 billion annual, five-year Virginia Supplier Program, and Dominion Energy Virginia would retain its name, local leadership under Ed Baine and accountability to the State Corporation Commission. The companies submitted additional information on the enhanced package to the SCC and continue to expect the transaction to close in the second half of 2027, subject to regulatory approvals and the expiration or termination of the Hart-Scott-Rodino waiting period.
NextEra Energy Reaffirms 2026 EPS Guidance Ahead of Investor Meetings
NextEra Energy said its senior management team will meet with investors throughout September and in early October to discuss long-term growth-rate expectations for the company and the combined company following its proposed combination with Dominion Energy. NextEra Energy continues to expect 2026 adjusted earnings per share of $3.92 to $4.02 and is targeting the high end of that range. The company also continues to expect a compound annual growth rate in adjusted earnings per share of 8%+ annually through 2032 and is targeting the same from 2032 through 2035, all off the 2025 base of $3.71 adjusted earnings per share. NextEra Energy continues to expect to grow its dividends per share at a roughly 10% rate per year through 2026, off a 2024 base, and 6% per year from year-end 2026 through 2028. The proposed combination with Dominion Energy is expected to be immediately accretive to adjusted earnings per share at closing, which is expected in the second half of 2027, with the combined company expected to deliver 9%+ adjusted earnings per share growth through 2032 and targeting the same growth through 2035, all off the 2025 base of $3.71 adjusted earnings per share.
Oklo Shares Slide After $1 Billion At-The-Market Offering
Oklo announced an at-the-market offering to sell up to $1 billion in stock on Sept. 11, sending its share price down close to its 52-week low of about $36. By Sept. 11, the stock was trading about 9% lower since the start of the month, a sharp reversal from its more than 12% gain through Sept. 8. The nuclear company is operating mostly pre-revenue, without a commercial reactor or the licensing to operate one, yet carries a roughly $7 billion market valuation. Since peaking at $193 a share last October, Oklo has struck a landmark deal with Meta Platforms to support the tech giant's 1.2 gigawatt nuclear campus in Ohio, signed a critical fuel-supply agreement with Centrus, and achieved first criticality at its Groves isotope test reactor. At $37, the lower price could make a small, speculative position more appealing for investors willing to accept the risks, including securing regulatory approval for its reactors and the possibility of further dilution.
Industry Minister Demands Reform at Chubu Electric Over Hamaoka Nuclear Data Falsification
At a press conference on the 14th, Minister of Economy, Trade and Industry Ryosei Akazawa said of the data falsification issue at Chubu Electric Power's Hamaoka nuclear plant, "This severely damages public trust and is deeply regrettable," stressing that he wants to strictly demand that management reforms, including measures to prevent recurrence, be carried out without fail. A report released the same day by an investigative committee also revealed that Chubu Electric failed to respond adequately to multiple internal whistleblower reports, and Akazawa pointed out that a fundamental overhaul of the internal reporting system is important. Naoki Mori, chairman of the Federation of Electric Power Companies, also issued a statement the same day saying he takes the matter seriously, and asked Chubu Electric to steadily advance management reforms aimed at rebuilding corporate governance and organizational culture.
Industry Minister Demands Reform After Chubu Electric's Hamaoka Nuclear Data Falsification
At a press conference on the 14th, Minister of Economy, Trade and Industry Ryosei Akazawa said regarding the data falsification issue at Chubu Electric Power's Hamaoka nuclear plant, "This severely damages public trust and is deeply regrettable," and stressed that he intends to strictly demand that management reforms, including measures to prevent recurrence, be carried out without fail. A report released the same day by an investigative committee also revealed that Chubu Electric failed to adequately respond to multiple internal whistleblower reports, and Akazawa pointed out that a fundamental overhaul of the internal reporting system is important. Nozomu Mori, chairman of the Federation of Electric Power Companies, also issued a statement the same day saying he takes the matter seriously, and called on Chubu Electric to steadily advance management reforms aimed at rebuilding corporate governance and organizational culture.
Chubu Electric Chairman Katsuno Also Intends to Resign as Chukeiren Chairman
Chubu Electric Power Chairman Satoshi Katsuno indicated on the 14th that he also intends to resign as chairman of the Chubu Economic Federation, known as Chukeiren. At a press conference the same day concerning data falsification at the Hamaoka nuclear plant, Katsuno said he would also step down as Chukeiren chairman, and plans to formally convey his intention to resign to the federation. Chubu Electric announced the same day that Katsuno will resign as chairman effective the 30th. Katsuno took the Chukeiren chairmanship in June 2025, and his reappointment was decided this June, making his current term his second.
Chubu Electric President Vows Not to Give Up on Hamaoka Nuclear Restart Application
Chubu Electric Power President Shingo Hayashi said at a press conference in Nagoya on the 14th that the company will withdraw its application for safety screening to restart Units 3 and 4 of the Hamaoka nuclear plant. Hayashi stressed that the company will "never give up and will keep working toward resubmitting the application," making clear its stance of keeping the nuclear plant. The press conference ran for about three and a half hours from 2 p.m., and at the outset he apologized for the misconduct issue at the plant, saying in reflection that the company "failed to build an organizational culture that prioritizes compliance." Regarding the future of the Hamaoka plant, he said with emphasis that "the necessity and importance of nuclear power has not changed at all," and deflected questions about considering decommissioning by saying he believes "it is premature." Chairman Satoshi Katsuno also attended and said of the misconduct that he recognizes "there is extremely heavy responsibility in having failed to prevent it."
Chubu Electric Chairman Tetsu Katsuno Intends to Resign as Chukeiren Chairman
Tetsu Katsuno, chairman of Chubu Electric Power, indicated on the 14th that he also intends to resign as chairman of the Chubu Economic Federation. At a press conference the same day regarding data falsification at the Hamaoka nuclear plant, Katsuno said he would "also step down" as Chukeiren chairman, and will formally convey his resignation to the federation in the future. Chubu Electric announced the same day that Katsuno will resign effective the 30th. Katsuno took the Chukeiren chairmanship in June 2025 and was reappointed this June, now in his second term. Amid the data falsification scandal at the Hamaoka nuclear plant, Chubu Electric's president and chairman are resigning to take responsibility, and the company has indicated a policy of withdrawing its application to restart the plant.
Data Falsification at Hamaoka Nuclear Plant: Chief Cabinet Secretary Kihara Says 'We Will Deal with This Strictly'
At a press conference on the 14th, Chief Cabinet Secretary Minoru Kihara commented on Chubu Electric Power's withdrawal of its application for the safety review needed to restart Units 3 and 4 at the Hamaoka Nuclear Power Plant in Shizuoka Prefecture, following a data falsification scandal involving earthquake assumptions. Kihara said, "Sincere responses are required, including a thorough confirmation of the facts, investigation of the causes, and prevention of recurrence." The Nuclear Regulation Authority and the Ministry of Economy, Trade and Industry also stressed that they will "deal with the matter strictly." In the wake of the series of irregularities, Chubu Electric Power has indicated that its president and chairman will resign to take responsibility, and the company has now withdrawn its application for the restart review.
Chubu Electric President Hayashi and Chairman Katsuno to Resign Over Hamaoka Nuclear Plant Data Falsification
Chubu Electric Power announced on the 14th that President Shingo Hayashi and Chairman Tetsu Katsuno will resign effective the 30th, taking management responsibility for the falsification of data related to earthquake assumptions at the Hamaoka Nuclear Power Plant. Senior Managing Executive Officer Minoru Yasui will be promoted to succeed Hayashi. Speaking at a press conference in Nagoya, President Hayashi said there were "serious problems with governance and the organizational soil," and apologized, saying it was "a matter of the deepest regret." Chairman Katsuno, who was president at the time, also said he bears "extremely heavy responsibility for having failed to correct the situation." Advisor Akihisa Mizuno will also step down effective the 30th.