This is what unresolved looks like: a research report cites an equity-conversion clause at US$30 billion by 2029 that does not appear in our filings or on our call — unconfirmed, not denied. This is what undisclosed looks like: our 2025 share of Westinghouse EBITDA is not separately broken out. This is what lumpiness looks like: 2026 guidance steps down from 2025 despite the US$80 billion partnership, attributed partly to the one-time Dukovany distribution and project timing, and not resolved further. We don't guide past a final investment decision. We don't guide 2027.
← stream@CCJ open @CEG solid
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Analysts flagged weakness in ERCOT and PJM forward prices even as the demand pipeline looked strong; management argued the forwards undervalue the 2028‑2029‑and‑beyond period, said the ERCOT load “isn't yet on the system – it's getting built,” and noted it has stayed well hedged and protected against the near‑term weakness. Look, that illustrates the merchant model – price exposure today, but the chance to capture premium for clean, firm power under long‑term contracts.