Constellation spent $2.42 million lobbying Washington the same month it sold Google 3,590 megawatts
A $2.42 million lobbying filing landed overnight on October 21, days before Constellation's November 6 earnings, and its line items map exactly onto the rules that decide whether the hyperscaler or the ratepayer pays for the AI power build-out.
Vincent Jiang · 2 min read
Overnight on October 21, 2026, a Lobbying Disclosure Act filing showed Constellation Energy+5.22% — Constellation Energy, up 5.22 percent today Generation spent $2,420,000 on Washington lobbying in the third quarter, and the issue list reads like the company's own risk register: "Data Center Policy", the "Ratepayer Protection Act", "Artificial Intelligence and Energy Use", nuclear fuel policy, permitting reform, and H.R 1. 6500, the FY2027 continuing appropriations bill now moving through Congress 1.
The filing names its lobbyists too, among them David Gilbert and Jacqueline Carney, and bills like the Efficient Nuclear Licensing Hearings Act and the Accelerating Reliable Capacity Act 1. Two weeks earlier, on October 6, the same company had sold Google two long-term power contracts worth 3,590 megawatts on the PJM grid 2.
Google gets the megawatts, the price stays secret
The first contract is a 20-year power purchase agreement: 890 megawatts of new nuclear capacity squeezed from uprates at 11 existing units across six sites in Illinois, Pennsylvania and New Jersey, backed by more than $4.3 billion of Constellation investment, with first capacity by 2028 and the full 890 megawatts before the end of 2032 235. The second is a 15-year supply deal for 2,700 megawatts from the existing fleet 2. Neither company disclosed pricing 2.
The Google fleet deal is three times the size of the nuclear uprates behind the headlines
Data
| Value | |
|---|---|
| Google, 15-yr existing fleet | 2,700 |
| Google, 20-yr uprates | 890 |
| Amazon, Calvert Cliffs | 190 |
The bills Constellation is watching decide who pays
Whether the $4.3 billion works as advertised only holds if Google, not ratepayers, pays for it into the contract price; that rule is still unwritten 67. The Ratepayer Protection Act, which would have made large users pay the full incremental cost of grid upgrades, passed the House 417 to 3 but failed a Senate procedural vote 57 to 43 on September 30 67.
The Ratepayer Protection Act passed the House 417 to 3, then died 57 to 43 in the Senate
- In favor
- Against
Data
| In favor | Against | |
|---|---|---|
| House | 417 | 3 |
| Senate | 57 | 43 |
PJM's "Bring Your Own Power" proposal, which pushes large data center developers to fund their own capacity, is exactly the framework Constellation says the Google−1.59% — Google, down 1.59 percent today deal answers, "funded by private entities" 5. The lobbying file names the fights but not the position; the position is the money.
What the November 6 print must show
Constellation reports third-quarter results on November 6 4. Watch uprate capital expenditure, its recovery terms, and any pricing disclosure. Until then, the contracts are signed and the cost-allocation rules are still being lobbied.
Investors can dig deeper below.
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