The new company, based in Baltimore, Maryland, began trading this week on the Nasdaq Global Select Market under the symbol “CEG.”
Exelon announced last February that it had begun work to separate its utility businesses from its competitive power generation and customer-facing energy businesses.
In a press release announcing the separation, Constellation said it is exploring growth opportunities that build on its core businesses and capitalise on the expanding demand for carbon-free energy, including potential acquisition of nuclear plants or other clean energy assets, creating clean hydrogen using its nuclear fleet, and introducing new products and services for business customers.
Last November the Nuclear Regulatory Commission approved licence transfers for the Exelon fleet to Constellation.
The units covered by the transfers are by Constellation are Braidwood-1, Braidwood-2, Byron-1, Byron-2, Calvert Cliffs-1, Calvert Cliffs-2, Clinton, Dresden-2, Dresden-3, FitzPatrick, LaSalle-1, LaSalle-2, Limerick-1, Limerick-2, Nine Mile Point-1, Nine Mile Point-2, Peach Bottom-2, Peach Bottom-3, Quad Cities-1, Quad Cities-2, R. E. Ginna, Salem-1 and Salem-2.
The company owns and operates 21 nuclear reactors and has an operating interest in Salem-1 and Salem-2.
Decommissioning reactors covered by the transfer include Dresden-1, Peach Bottom-1, Three Mile Island-1, and Zion-1 and -2.