Constellation Energy CEO emphasizes the reliability of nuclear power - CNBC
Constellation Energy CEO emphasizes the reliability of nuclear power
- The CEO of nuclear-powered utility Constellation Energy, Joe Dominguez, emphasized the reliability of nuclear power in an interview with CNBC's Jim Cramer.
- "The advantage of nuclear over anything else in the market is not only its scale but the fact is that, next time this year, I know how our fleet is going to perform," Dominguez said.
The CEO of nuclear-powered utility Constellation Energy, Joe Dominguez, emphasized the reliability of nuclear power in an interview with CNBC's Jim Cramer.
"People are waking up to the point that if we're going to decarbonize, and if we're going to connect all this stuff, from vehicles, industry, home heating, more data centers, AI, all of that, to the grid, it's going to be more important than ever that we have energy that operates when our customers need it," Dominguez said.
Constellation says it's the largest producer of carbon-free energy that does not use fossil fuels, and comes from sources like wind, solar and nuclear.
Dominguez added that nuclear power is reliable regardless of the weather, so it can fill in gaps that occur with solar and wind power generation.
"The advantage of nuclear over anything else in the market is not only its scale but the fact is that, next time this year, I know how our fleet is going to perform," he continued.
Dominguez also said Constellation aims to go beyond RECs, or annual renewable energy certificates, which he said don't always mean a company is meeting its carbon-free goals. He touted his company's energy-matching program, which aims to ensure that companies are receiving renewable energy sources on a moment-to-moment basis.
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Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.