Talen Energy

Built World

Evaluating gigawatt-scale Xe-100 deployment under March 2026 LOI

No US utility has ordered a newly designed commercial reactor and seen it come online since the 1970s. On April 24, 2026, the first company trying to break that drought rang the Nasdaq bell. X-energy priced its IPO at $23 a share ($4 above its marketed range) and raised $1.02 billion, the largest US nuclear public offering in years. Shares closed their first day up 27%, giving the company a market valuation of roughly $11.9 billion. The offering was oversubscribed more than 15 times.

Updated May 31

Rule Changes

Operator of Wagner Unit 4 under federal order

Between 1977 and 2000, the Energy Secretary used Section 202(c) of the Federal Power Act exactly zero times; since May 2025, it has been invoked more than 40 times. On May 22, Secretary Chris Wright added another, directing Talen Energy to run a 54-year-old oil-fired unit outside Baltimore beyond its environmental run cap from now through August 19.

Updated May 22

Rule Changes

Central participant in the Susquehanna co-location dispute that shaped the broader debate

Data centers found a shortcut: park next to a generator and drink power without waiting years for grid upgrades. On Dec. 18, FERC doubled down—unanimously—ordering PJM to rewrite its tariff so co-located mega-load can't stay "invisible" to planning, service definitions, and cost responsibility.

Updated May 15