Constellation Energy Corporation

🇺🇸NASDAQ Global Select
Back to all articles
Constellation Energy Corporation stock analysis CEG overview
Somewhat Bullish +50

Regulators approve water use request for Three Mile Island restart

🌊 Regulators approved a water use request for restarting the Three Mile Island nuclear power station on Thursday morning.

💧 Constellation Energy is authorized to withdraw up to 73.2 million gallons of water daily from the Susquehanna River.

🏭 The water will be used at the Crane Clean Energy Center, formerly known as Three Mile Island, for Unit One operations.

⚠️ Unit Two remains shut down since a partial meltdown occurred in 1979.

📅 Plans to restart the plant, which has been mothballed since 2019, were first announced in 2024.

🏛️ The Susquehanna River Basin Commission handled the application along with 14 others at their quarterly business meeting.

🌍 The commission oversees water use across Maryland, Pennsylvania, and New York within the Susquehanna River watershed.

💬 Constellation officials stated in April that the requested water figures are similar to when Unit One was previously online.

✅ This approval is one of many regulatory requirements needed before the power station can fully restart.

Bullish Signals
  • Regulators approved a critical water use request for Constellation Energy's Three Mile Island restart on Thursday morning.
  • Constellation Energy is authorized to withdraw up to 73.2 million gallons of water per day from the Susquehanna River for the Crane Clean Energy Center.
  • This regulatory milestone supports the company's ongoing effort to restart Unit One, which has been mothballed since 2019.
  • Constellation officials believe the approved water use figures are similar to when Unit One was previously online, indicating operational feasibility.
Risk Factors
  • The plant has been mothballed since 2019 following a partial meltdown in 1979, indicating significant operational history and potential legacy issues.
  • Restarting the facility requires navigating 'levels of regulatory red tape,' suggesting a complex and potentially prolonged approval process that could delay revenue generation.
Full Analysis
Constellation Energy has received regulatory approval from the Susquehanna River Basin Commission to withdraw up to 73.2 million gallons of water per day from the Susquehanna River for its Crane Clean Energy Center, formerly known as Three Mile Island. This specific approval is a critical milestone in Constellation's ongoing effort to restart Unit One of the nuclear power station, which has been mothballed since 2021 following the partial meltdown of Unit Two in 1979. The company first announced its plans to restart the plant in 2024, and this water use request was just one of 15 applications reviewed at the commission's quarterly business meeting held Thursday morning. Constellation officials stated that the requested water volume is similar to what was used when Unit One was previously online, indicating that the facility will operate within established environmental parameters for the river watershed spanning Maryland, Pennsylvania, and New York. This approval represents one of several necessary regulatory clearances required before the plant can resume operations, highlighting the complex process involved in bringing a nuclear facility back into service after years of dormancy.