Constellation Energy Reports Dip in Nuclear Power Generation in Q1
Constellation Energy (CEG), one of the largest utilities in the US, reported a dip in its nuclear power generation amid increased refueling outages, in a Q1 earnings update on Monday.The company's nuclear fleet, which includes its owned output from the Salem and South Texas Project generating stations, produced 44,666 gigawatt-hours of electricity during the quarter, down from 45,582 GWh last year.This was attributed to a decline in capacity factors, essentially the maximum possible electricity output from the reactors, to 92.3% down from 94.1%, as planned refueling outage days increased to 99, from 88 days last year.Constellation said its combined-cycle and cogeneration natural gas fleet generated approximately 23 million megawatt-hours of electricity while operating at a 47.1% capacity factor.The company said its expanded retail and commercial platform now delivers about 275 million megawatt-hours of electricity annually and around 800 billion cubic feet of natural gas annually across customers in 40 states.Total capital expenditures stood at $1.27 billion, up from $806 million last year, with the company forecasting $3.9 billion in capital expenditures for the full-year.