US Nuclear’s Low-Hanging Fruit Is Being Gobbled Up – Bloomberg
Will Wade reports that Big Tech, driven by AI data center demand, is aggressively pursuing nuclear uprates to extract more power from existing US reactors. Constellation Energy plans a $4.3 billion upgrade of 11 reactors, adding 890 MW — nearly the output of one conventional reactor — under a 20‑year Google agreement, with first power expected by 2028. Similar deals supply Amazon, Walmart and Meta.
The industry calls these projects “uprates,” involving new turbines, generators, transformers and other components. PJM’s grid has only one unallocated uprate — a 112‑MW boost at the Salem plant (Public Service Enterprise Group). Constellation says it has reached its uprate limit, noting “Google basically bought everything that was left.”
While nuclear expansion faces multi‑year delays, hyperscalers must confront limited capacity. Meanwhile, oil tankers are resuming Middle East cargoes after a war‑induced hiatus, reflecting soaring freight costs. BP cut net debt by $8 billion, hitting its 2027 target early, and political controversy surrounds Trump’s Russian diesel deal.
Constellation Energy, Google, Amazon, Walmart, Meta, PJM Interconnection, Salem plant, Public Service Enterprise Group
Source: Bloomberg Markets · Summarized by HeadlinesBriefing