Asset Sale and Regulatory Settlement: Constellation Energy Corp (CEG) Announces Agreement with LS Power to Sell Its Generation Assets Located in the PJM Interconnection Region

This transaction is part of the antitrust review resolution proposed by the Federal Energy Regulatory Commission (FERC) and the Department of Justice (DOJ) regarding Constellation's acquisition of certain Calpine assets. **Regulatory Background and Transaction Conditions** The purpose of this asset sale is to alleviate regulatory concerns about potential market competition issues following Constellation's acquisition of Calpine assets. FERC and DOJ require Constellation to divest certain PJM regional generation assets to ensure fair market competition. As the acquirer, LS Power is an energy company with a broad portfolio of generation assets across North America, and this acquisition will strengthen its presence in the PJM market. **Transaction Details and Market Impact** Although the specific transaction amount was not disclosed, market analysis suggests that this sale will help Constellation smoothly pass regulatory review and complete the acquisition of Calpine assets. The PJM grid is the largest regional transmission organization in the United States, covering a vast area including Washington, D.C. and 13 states. The transaction is expected to be completed after obtaining regulatory approval, further optimizing Constellation's asset structure and enhancing LS Power's position in the highly competitive electricity market.