Hyde Karen T sold (to issuer) $496K of TLN

FERC rejected most of PJM Interconnection's plan to manage data center demand, citing state jurisdiction concerns. PJM must revise its proposal, addressing why data centers would be prioritized for curtailment. FERC's decision may raise capacity prices, benefiting power producers like Constellation Energy, NRG Energy, Talen Energy, and Vistra, according to Jefferies.

Jan van Eck, CEO of Van Eck Funds, suggests the nuclear energy sector may have bottomed out, citing a 20-year deal between Constellation Energy (CEG) and Google (GOOG, GOOGL) for 890 MW of nuclear capacity, backed by $4.3B in investment. The deal sparked a rally in nuclear stocks, with CEG up 12% and others like VST, TLN, OKLO, SMR, and NNE also gaining. Van Eck believes supporting AI infrastructure, like nuclear power, could rebound, though prediction markets see low odds for this year.

Talen Energy Corporation (TLN) stock rose 13.38% on October 6, 2026, driven by strong data center demand and PJM capacity auction success. TLN has gained 30% in recent weeks, reaching $376. The company reported $959M quarterly revenue, $2.63B trailing run rate, and -$92M net income, with high debt levels. TLN's exposure to AI-driven power demand and regulatory risks from FERC suspensions are key factors for traders.

Talen Energy (TLN) shares rose 9.7% to $363.94 after the company expanded its share buyback program to $3B, initiated $1.5B in accelerated repurchases, and announced a leadership transition. The moves are backed by projected $4B in adjusted free cash flow from H2 2026 to 2028. Broader markets also gained, with the S&P 500 up 0.7%.

Constellation Energy (CEG) rose 12% to $300.30 after a 20-year nuclear power deal with Google (GOOGL) for 890 MW. Vistra (VST) and Talen Energy (TLN) also gained 8% and 7%, respectively, on read-through. The Utilities Select Sector SPDR ETF (XLU) rose 2%. The deal funds upgrades at Constellation's existing reactors, ensuring guaranteed revenue for two decades.

PJM Interconnection, the largest US grid operator, suspended its emergency power auction for data centers after FERC criticized the plan. The auction aimed to address a 6.8GW power shortfall, with costs primarily borne by 67 million customers. FERC found the plan 'deeply flawed' and delayed it for five months. Goldman Sachs notes the suspension is 'net bearish' for independent power producers, with Talen (TLN) and Constellation (CEG) most exposed.