Name: Constellation CEO on Trump's Plan to Cut Mid-Atlantic Electrical Bills
Uploaded: 2026-01-22T21:10:00Z
Duration: 3 min 10 s
Description: Joseph Dominguez, President and CEO of Constellation, discussed President Donald Trump's call for an emergency power auction. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Joseph Dominguez, President and CEO of Constellation, discussed President Donald Trump's call for an emergency power auction. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Constellation CEO on Trump's Plan to Cut Mid-Atlantic Electrical Bills

President Trump just called for an emergency power auction to address what he says are high rates in the middle Atlantic region, which is Maryland, New Jersey, Pennsylvania, et cetera. Which is, you're based in Baltimore.

Joseph: Yep.

So it's your home region. How is that connected to your business and what do you think about the president's plan?

Well, we're starting to understand a little bit more about the details of the plan. So, so far we've gotten what is more of what I would describe as a statement of principles. But as we read it, it looks very similar to us, to something we are proposing ourselves in the stakeholder process. And let me explain that. There has been, on behalf of the grid operators, what we call backstop authority. Which is essentially to say that if the market isn't responding by building a sufficient number of power plants to meet growing demand, then the grid operators will step in and they'll order a procurement. 15-year contracts is what's being proposed. So at Constellation, we had advocated for some backstop authority precisely to push back on this notion that we would have reliability issues, and also to address some of the affordability issues. And the idea of it is that we would use an emergency procurement only when necessary, but that procurement and the cost of it would be allocated to certain categories of new demand. Meaningfully, the large data centers that are coming in.

Right, so the idea itself kind of makes sense or makes sense?

If properly implemented, we think it could make sense and it could be a little bit of a breakthrough in terms of getting the market going. But Andy, what I think people don't appreciate enough is it's very hard to get new power plants sited these days. So the idea that we would see an increase in demand and you and I would get together and say, hey look, let's put a power plant on the grid in 24 or 36 months go. We used to be able to do that in 2015. Now it's more like four and five years.

Can you put a price tag on a power plant? I mean, I know there's a whole range. There's the small nukes, there's your natural gas plants.

Joseph: Sure.

What do they cost?

Well, it depends on the size of the unit, but right now we're looking at natural gas units being about $2,500 a kw. So for a typical large natural gas plant, you're talking about $2.5 billion. Normally you would build two of those together at the same location for a combined cycle machine. So $5 billion. If you were to try to match that and its efficiency with solar, be a significantly higher number of solar plus storage to accomplish the same result. And nuclear, the last time we built a dual unit station in the US it was upwards of $30 billion or more. The Southern Company did that.

In today's dollars or?

In those dollars.

And how long ago was that?

So that was, they just came online recently.

Oh, right, yeah, okay.

In the last handful of years.

Right.

But there has been price inflation. But what we also saw is, and we know this, the more nuclear plants we construct, the lower we could drive down the cost as we get to construction efficiencies.