Nuclear stocks gain as federal officials approve plan to restart Three Mile Island
US officials have given Constellation Energy the green light to turn the Three Mile Island nuclear power plant back on.
On Monday night, the Federal Energy Regulatory Commission filed a waiver allowing the company to transfer grid rights from a gas-fired power plant outside Philadelphia to Three Mile Island. The company says that due to the waiver, it aims to restart the nuclear power facility by 2027 in order to supply Microsoft data centers with energy.
Additionally, other nuclear stocks like Oklo, GE Vernova, Energy Fuels, and Cameco Corp. traded higher Tuesday afternoon.
This comes after last week’s Energy Department announcement that it would provide weapons-grade plutonium to five energy startups, including Oklo, to be processed into fuel to generate electricity.
Companies have said these weapons stockpiles are a way to get nuclear reactors fueled quickly as the industry scales.
