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Constellation Discusses Retail Margins In Reporting Earnings
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In reporting earnings today, Constellation executives said that the company's commercial business saw sales margins above the long-term averages used in Constellation's forecasts, and above the margins that the company anticipated at the beginning of this year.
Asked by an analyst specifically about retail margins in PJM, Constellation executives said, on the retail side, margins are on the upper end of the range that the company has always talked about.
Constellation third quarter 2025 Retail Electric Load Served by Region was as follows:
Constellation's Adjusted (non-GAAP) Operating Earnings for the quarter ending September 30, 2025 were
$952 million, up from $860 million a year ago
Constellation said that the increase reflects, "Favorable market and portfolio conditions and impact of nuclear outages, partially offset by lower nuclear PTC revenue due to higher anticipated gross receipts for the year".
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November 7, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Q3 2025 Retail Electric Load Served
(TWh)
Midwest 11
Mid-Atlantic 13
ERCOT 4
New York 5
New England/South/West 8
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