Stock Markets March 26, 2026

Constellation Told Grid Connection for Three Mile Island May Be Delayed Until 2031

Company expects plant readiness in 2027 but PJM says transmission upgrades push commercial connection out four years

By Nina Shah CEG
Constellation Told Grid Connection for Three Mile Island May Be Delayed Until 2031
CEG

PJM Interconnection has informed Constellation Energy that transmission upgrades tied to the restarted Three Mile Island nuclear plant in Pennsylvania are unlikely to be finished before 2031, delaying the plant's ability to feed power into the grid by roughly four years versus Constellation's earlier timeline. Constellation says the unit will be operational by 2027 and is negotiating with PJM and transmission owners to shorten the interconnection schedule. The plant, being renamed the Crane Clean Energy Center, is planned to supply electricity to Microsoft data centers. Shares of the company fell about 3% after the news.

Key Points

  • PJM's initial feedback indicates transmission upgrades needed for the restarted Three Mile Island plant likely will not be completed until 2031, extending the connection timeline by roughly four years.
  • Constellation says the plant - to be renamed the Crane Clean Energy Center and slated to supply Microsoft data centers - will be ready to produce electricity by 2027 and is negotiating with PJM and transmission owners to accelerate grid work.
  • Market reaction included an approximately 3% decline in Constellation's share price following the report; sectors most directly affected include utilities, power generation, and large-scale data center operators.

PJM Interconnection, the regional U.S. grid operator, has told Constellation Energy that some of the transmission work required to link the former Three Mile Island nuclear plant in Pennsylvania to the grid will likely not be completed until 2031. That timeline is about four years later than Constellation had planned, company representatives said at the CERAWeek energy conference in Houston.

Constellation is advancing a program to restart the shuttered nuclear unit, which it is renaming the Crane Clean Energy Center, with the intention of supplying electricity to Microsoft data centers. Company officials maintain that the plant itself will be ready to generate electricity on the earlier timetable, and they are engaging with PJM and transmission owners to try to accelerate the grid interconnection work.

David Dardis, Constellation's chief external affairs and growth officer, said at the conference: "We will have it ready to go in 2027." He also confirmed the company is in discussions with PJM and transmission owners to seek ways to reduce the interconnection timeline.

In its initial review of Constellation's interconnection proposal, PJM concluded that completion of necessary transmission upgrades is unlikely before 2031. Constellation said it is actively talking with the relevant transmission owners to explore options for speeding up those upgrades.

Investors reacted to the update: shares of Constellation dipped roughly 3% after the report of the extended interconnection schedule.

The company announced in 2024 that it had contracted with Microsoft to reopen the site, which has not operated as a producing nuclear plant since it was fully shut. No U.S. nuclear facility that was fully shuttered has previously been restarted. The company and industry observers note that there are three U.S. plants currently in the process of seeking to restart as demand from large data centers and broader electrification trends increases.


Context and next steps

  • Constellation will continue to ready the plant to begin generating by the 2027 target date the company has set.
  • PJM's current assessment identifies transmission upgrades that extend the interconnection window to 2031 absent acceleration by transmission owners or changes to the interconnection plan.
  • Conversations between Constellation, PJM and transmission owners are ongoing to evaluate whether the timeline can be shortened.

Risks

  • Transmission upgrade timelines could delay the plant's ability to deliver power to the grid even if the facility itself is ready in 2027 - affecting the utility and power generation sectors.
  • Protracted negotiations with PJM and transmission owners present uncertainty around the eventual commercial in-service date for the plant, with implications for contracted customers such as large data center operators.
  • Because a fully shut U.S. nuclear plant has not previously been restarted, the restart process carries operational and scheduling uncertainty for Constellation and counterparties.

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