The power plant owner has two deals with the U.S. government that are expected to pay out about $1 billion over the next several years.

Constellation Energy contracts, set to begin on April 25, estimated to provide electricity equivalent to power more than 1 million homes annually.

The nuclear stocks today raise for more than 6% fueled by optimism following 10-year contract worth $840 million awarded by the U.S. GSA (General Services Administration) to Constellation Energy ( NASDAQ:CEG ). The contract puts Constellation in a good position for future growth as additional revenue projected.

Constellation Energy has been awarded a record $1 billion in contracts to supply nuclear power to the U.S. government over the next decade, the company said on Thursday.

A major federal contract to purchase nuclear energy comes on the heels of similar deals made by Big Tech companies. The Biden administration wants to preempt price hikes as government agencies compete with energy-hungry data centers.

Constellation awarded more than $1 billion in combined contracts by the U.S. General Services Administration to supply power and efficiency solutions.

Nuclear stocks soared Thursday after Constellation Energy announced a 10-year contract with the federal government.

Key Takeaways Constellation Energy shares jumped Thursday after the company and the U.S. General Services Administration announced a pair of contracts worth over $1 billion.Constellation will supply over a dozen government agencies with nuclear energy over the next decade as part of a 10-year,