{
  "report_id": "theme_nuclear_power_node_existing_nuclear_fleet_and_premium_contracts",
  "report_type": "theme_value_chain_node",
  "site_path": "themes/nuclear-power/nodes/existing-nuclear-fleet-and-premium-contracts/index.html",
  "title": "Existing Nuclear Fleet And Premium Contracts",
  "as_of": "2026-06-12",
  "generated_at": "2026-06-13T15:46:55-07:00",
  "node": {
    "slug": "existing-nuclear-fleet-and-premium-contracts",
    "order": 1,
    "level": "L3 operating cash-flow node",
    "role": "Ranks existing nuclear fleet owners and adjacent dispatchable power platforms by contract evidence, cash-flow conversion, regulatory gates, valuation burden, and chart setup.",
    "description": "This node covers operating nuclear megawatts and adjacent power platforms that can sell reliable power into markets, capacity auctions, retail books, hedges, or long-duration clean-firm contracts. CEG ranks first for the broadest direct nuclear fleet and contracting surface; VST ranks second as the relative-value challenger with signed Meta nuclear agreements; TLN ranks third for concentrated AWS/Susquehanna torque with more execution risk; NRG ranks fourth as an adjacent merchant, retail, gas, VPP, and data-center power comparator after selling its South Texas Project stake in 2023."
  },
  "ticker_baskets": {
    "core": [
      "CEG",
      "VST",
      "TLN",
      "NRG"
    ],
    "option": [],
    "watch": [],
    "related_tail": [
      "PEG"
    ]
  },
  "basket_card_metrics": [
    {
      "ticker": "CEG",
      "rank": 1,
      "market_cap": "$91.9B",
      "market_cap_source": "Read-only discovery query: 2026-06-12 close multiplied by instruments.weighted_shares_outstanding, queried 2026-06-13",
      "next_earnings": "Aug. 6, 2026 est.",
      "next_earnings_source": "Nasdaq API /api/analyst/CEG/earnings-date, checked 2026-06-13; Nasdaq states the date is an algorithmic estimate from historical reporting dates and Zacks Investment Research",
      "latest_quarter_revenue": "$11.122B",
      "latest_quarter_revenue_period": "Q1 2026",
      "latest_quarter_revenue_source": "CEG security lane routed to SEC Q1 2026 10-Q and Q1 2026 release"
    },
    {
      "ticker": "VST",
      "rank": 2,
      "market_cap": "$49.9B",
      "market_cap_source": "Read-only discovery query: 2026-06-12 close multiplied by instruments.weighted_shares_outstanding, queried 2026-06-13",
      "next_earnings": "Aug. 6, 2026 est.",
      "next_earnings_source": "Nasdaq API /api/analyst/VST/earnings-date, checked 2026-06-13; Nasdaq states the date is an algorithmic estimate from historical reporting dates and Zacks Investment Research",
      "latest_quarter_revenue": "$5.640B",
      "latest_quarter_revenue_period": "Q1 2026",
      "latest_quarter_revenue_source": "VST security lane routed to SEC Q1 2026 10-Q and Q1 2026 release"
    },
    {
      "ticker": "TLN",
      "rank": 3,
      "market_cap": "$16.4B",
      "market_cap_source": "Read-only discovery query: 2026-06-12 close multiplied by instruments.weighted_shares_outstanding, queried 2026-06-13",
      "next_earnings": "Aug. 6, 2026 est.",
      "next_earnings_source": "Nasdaq API /api/analyst/TLN/earnings-date, checked 2026-06-13; Nasdaq states the date is an algorithmic estimate from historical reporting dates and Zacks Investment Research",
      "latest_quarter_revenue": "$1.129B",
      "latest_quarter_revenue_period": "Q1 2026",
      "latest_quarter_revenue_source": "TLN security lane routed to SEC Q1 2026 10-Q and Q1 2026 earnings release"
    },
    {
      "ticker": "NRG",
      "rank": 4,
      "market_cap": "$26.5B",
      "market_cap_source": "Read-only discovery query: 2026-06-12 close multiplied by instruments.weighted_shares_outstanding, queried 2026-06-13",
      "next_earnings": "Aug. 5, 2026 est.",
      "next_earnings_source": "Nasdaq API /api/analyst/NRG/earnings-date, checked 2026-06-13; Nasdaq states the date is an algorithmic estimate from historical reporting dates and Zacks Investment Research",
      "latest_quarter_revenue": "$10.256B",
      "latest_quarter_revenue_period": "Q1 2026",
      "latest_quarter_revenue_source": "NRG security lane routed to SEC Q1 2026 10-Q and Q1 2026 release"
    }
  ],
  "chart_artifacts": [
    {
      "chart_id": "chart-ceg",
      "ticker": "CEG",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "indicator_method": "20-week and 100-week exponential moving averages computed from weekly closes using full available weekly history before visible-window clipping; weekly volume bars shown with a 20-week average volume line",
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "visible_start_date": "2023-06-13",
      "visible_end_date": "2026-06-12",
      "api_route": "/api/securities/CEG/chart?frequency=weekly&window=3y&as_of=latest",
      "rendering": "report_api_selected_security_rail"
    },
    {
      "chart_id": "chart-vst",
      "ticker": "VST",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "indicator_method": "20-week and 100-week exponential moving averages computed from weekly closes using full available weekly history before visible-window clipping; weekly volume bars shown with a 20-week average volume line",
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "visible_start_date": "2023-06-13",
      "visible_end_date": "2026-06-12",
      "api_route": "/api/securities/VST/chart?frequency=weekly&window=3y&as_of=latest",
      "rendering": "report_api_selected_security_rail"
    },
    {
      "chart_id": "chart-tln",
      "ticker": "TLN",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "indicator_method": "20-week and 100-week exponential moving averages computed from weekly closes using full available weekly history before visible-window clipping; weekly volume bars shown with a 20-week average volume line",
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "visible_start_date": "2024-07-10",
      "visible_end_date": "2026-06-12",
      "history_note": "TLN local daily coverage starts on 2024-07-10 and has 101 weekly bars through 2026-06-12, so the 100W EMA is just over the minimum history threshold.",
      "api_route": "/api/securities/TLN/chart?frequency=weekly&window=3y&as_of=latest",
      "rendering": "report_api_selected_security_rail"
    },
    {
      "chart_id": "chart-nrg",
      "ticker": "NRG",
      "source_table": "daily_ohlc",
      "chart_interval": "weekly",
      "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed",
      "indicators": [
        "20w_ema",
        "100w_ema",
        "weekly_volume",
        "20w_average_volume"
      ],
      "indicator_method": "20-week and 100-week exponential moving averages computed from weekly closes using full available weekly history before visible-window clipping; weekly volume bars shown with a 20-week average volume line",
      "price_data_as_of": "2026-06-12",
      "visible_years": 3,
      "visible_start_date": "2023-06-13",
      "visible_end_date": "2026-06-12",
      "api_route": "/api/securities/NRG/chart?frequency=weekly&window=3y&as_of=latest",
      "rendering": "report_api_selected_security_rail",
      "exposure_note": "NRG is retained as an adjacent merchant, retail, gas, VPP, and data-center power comparator rather than a current nuclear fleet owner."
    }
  ],
  "knowledge_sources": [
    "../../../../../knowledge/wiki/concepts/themes/power-scarcity-and-grid-load.md",
    "../../../../../knowledge/wiki/concepts/themes/ai-capex-cycle.md",
    "../../../../../knowledge/wiki/lanes/sector/utilities.md",
    "../../../../../knowledge/wiki/lanes/sector/energy.md",
    "../../../../../knowledge/wiki/lanes/security/ceg.md",
    "../../../../../knowledge/wiki/lanes/security/vst.md",
    "../../../../../knowledge/wiki/lanes/security/tln.md",
    "../../../../../knowledge/wiki/lanes/security/nrg.md",
    "../../../../../knowledge/wiki/lanes/security/peg.md"
  ],
  "external_sources": [
    "https://www.energy.gov/articles/doe-releases-new-report-evaluating-increase-electricity-demand-data-centers",
    "https://www.iea.org/reports/energy-and-ai/executive-summary",
    "https://www.constellationenergy.com/newsroom/2024/Constellation-to-Launch-Crane-Clean-Energy-Center-Restoring-Jobs-and-Carbon-Free-Power-to-The-Grid.html",
    "https://about.fb.com/news/2025/06/meta-constellation-partner-clean-energy-project/",
    "https://investor.vistracorp.com/2026-01-09-Vistra-and-Meta-Announce-Agreements-to-Support-Nuclear-Plants-in-PJM-and-Add-New-Nuclear-Generation-to-the-Grid",
    "https://www.sec.gov/Archives/edgar/data/1622536/000162253626000017/tln-20251231.htm",
    "https://ir.talenenergy.com/news-releases/news-release-details/talen-energy-announces-sale-zero-carbon-data-center-campus",
    "https://investors.nrg.com/news-releases/news-release-details/nrg-energy-inc-acquire-premier-power-portfolio-ls-power",
    "https://api.nasdaq.com/api/analyst/CEG/earnings-date",
    "https://api.nasdaq.com/api/analyst/VST/earnings-date",
    "https://api.nasdaq.com/api/analyst/TLN/earnings-date",
    "https://api.nasdaq.com/api/analyst/NRG/earnings-date"
  ],
  "discovery_sources": [
    {
      "kind": "duckdb_readonly_query",
      "label": "Existing Nuclear Fleet And Premium Contracts weekly OHLC and EMA chart inputs",
      "query_ref": "discovery:duckdb:daily_ohlc_weekly_aggregation_20w_100w_ema:existing-nuclear-fleet-and-premium-contracts:2026-06-12"
    },
    {
      "kind": "status",
      "label": "Selected local ticker coverage",
      "query_ref": "discovery:status:CEG|VST|TLN|NRG"
    },
    {
      "kind": "lineage-status",
      "label": "Representative daily_ohlc lineage checks",
      "query_ref": "discovery:lineage-status:daily_ohlc:CEG|VST|TLN|NRG"
    },
    {
      "kind": "report-api",
      "label": "Selected-security right-rail charts",
      "query_ref": "report-api:/api/securities/{ticker}/chart?frequency=weekly&window=3y&as_of=latest"
    },
    {
      "kind": "duckdb_readonly_query",
      "label": "Basket market caps from close times weighted shares outstanding",
      "query_ref": "discovery:duckdb:daily_ohlc_latest_close_x_instruments_weighted_shares:CEG|VST|TLN|NRG:2026-06-12"
    }
  ],
  "links_out": [
    "theme_nuclear_power",
    "theme_power_scarcity_and_grid_load",
    "theme_ai_capex_cycle",
    "sector_utilities",
    "sector_energy",
    "security_ceg",
    "security_vst",
    "security_tln",
    "security_nrg",
    "security_peg"
  ],
  "freshness": {
    "price_data_as_of": "2026-06-12",
    "daily_ohlc_latest": "2026-06-12",
    "completed_weekly_setup_as_of": "2026-06-12",
    "chart_interval": "weekly",
    "knowledge_reviewed_as_of": "2026-06-13",
    "web_sources_reviewed_as_of": "2026-06-13",
    "limitations": [
      "Many premium nuclear contract announcements disclose MW, term, or counterparty but not price, escalation, credit support, curtailment, or margin impact.",
      "TLN local coverage has stale-source flags and only 101 weekly bars through 2026-06-12.",
      "NRG is an adjacent power-scarcity comparator and should not be framed as a current nuclear fleet owner.",
      "Per-ticker daily_ohlc lineage returned May 2026 backfills, while grouped daily market updates extend local rows through 2026-06-12.",
      "Nasdaq/Zacks next-earnings dates are algorithmic estimates, not company-confirmed dates."
    ]
  },
  "revision": {
    "version": 3,
    "updated_label": "Reviewed contract-evidence wording and estimate labeling after node reformat",
    "metadata_path": "themes/nuclear-power/nodes/existing-nuclear-fleet-and-premium-contracts/report.json",
    "curation_source": "Review worker pass using reports-value-chain-node-pages skill, actual diff inspection, knowledge routes, Nasdaq/Zacks estimate labeling, and read-only discovery"
  }
}