Constellation Energy (CEG) Stock Jumps After Meta Power Deal

June 3 Constellation Energy CEG shares jumped about 6% at Tuesday's open, after yesterday's roughly 2% gain.

The surge follows Constellation's deal with Meta Platforms META, which kicks in June 2027. Under the agreement, Meta will purchase power from Constellation's Clinton nuclear plant for two more decades, bolstering Meta's clean energy targets.

Clinton was set to retire in mid-2027 when its Zero Emission Credit, a state subsidy that kept the plant operating since nearly shutting down in 2017, expires. Meta's commitment prevents early closure and preserves about 1,000 jobs, Illinois Rep. Mary Miller said, adding that extending the plant's license will provide long-term economic security and growth for the region.

Constellation expects the partnership to strengthen its nuclear portfolio and ensure a steady low-carbon power supply. Investors will watch how this alliance influences both companies' sustainability goals and financial outlook.

Analysts will be monitoring how the deal shapes Constellation's earnings trajectory and future stock performance.