After Bloomberg reported Thursday evening that President Trump and several Northeast Governors have a “statement of principles” for PJM Interconnection to run a backstop emergency auction to address electricity affordability and reliability, Jefferies analyst Julien Dumoulin-Smith called GE Vernova (GEV) the “clearest winner” and also calls the news a positive for NRG Energy (NRG), PPL Corp. (PPL), NextEra Energy (NEE), Primoris (PRIM), Quanta Services (PWR) and Williams (WMB). Conversely, the firm sees “net risk” to incumbent power players Constellation Energy (CEG), Talen Energy (TLN), Vistra (VST) and Complete Production (CPX) on new supply and sees increasing market intervention disfavoring contracting existing facilities.
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