Constellation Energy, one of the US’s largest energy providers, has reported a sharp uptick in energy usage from existing data center customers and a bullish outlook on the sector’s growth in its Q2 earnings report.

"Focusing just on the accounts [data centers] we have continually served over the last three years, we have seen their usage in 2025 increase 45 percent compared to 2023," said Joe Dominguez, Constellation president and CEO.

The company pointed to the recent announcement by Calpine - which Constellation acquired earlier this year - with CyrusOne to supply 190MW of power to a data center near the Thad Hill Energy Center in Bosque County as indicative of the sector’s momentum.

Dominguez said the Calpine acquisition has placed Constellation at a “huge competitive advantage,” by adding significant capacity of natural gas-powered electricity to Constellation's nuclear fleet. Calpine is the largest generator of electricity from natural gas and geothermal resources in the US, with a generation capacity of more than 2.7GW.

Also in the call, Dominguez pushed back on the notion that data centers are solely responsible for higher electricity prices. “That narrative is false,” he said, noting that recent PJM capacity price changes stemmed largely from FERC-ordered market reforms to address reliability gaps.

The CEO went on to say that policy moves at both the state and federal levels could play a crucial role in accelerating growth within the data center sector. Dominguez cited the While House’s AI Action Plan, published late last month, as an example of this. The plan calls for “streamlining permitting of data centers and energy infrastructure” and creating a grid that matches “the pace of AI innovation,” said Dominguez.

Dominguez also warned against states attempting to restrict data center development in hopes of controlling costs, comparing it to “the state of New Jersey trying to affect interstate milk prices by directing residents to no longer drink milk. It just doesn’t work.”

On regulatory questions such as behind-the-meter generation for data centers, Dominguez said that there remains “ambiguity” at the Federal Energy Regulatory Commission, but he remained confident there would be progress. “The president very strongly feels that things that are behind the meter and that generation built specifically for data centers have got to be a part of the solution set,” he said.

With bipartisan support for nuclear expansion and surging AI-related power demand, Dominguez said Constellation is “going to be at the heart” of the transformation of the US grid.

The company has already had a notable year. In addition to the Calpine acquisition, it signed a 20-year Power Purchase Agreement with Meta for more than 1.1GW of power from a nuclear power plant in Clinton, Illinois.

The contract, which will commence in June 2027, will see Meta offtake the entire output of the Constellation-owned 1.121GW Clinton Clean Energy Center.

Constellation runs the largest nuclear fleet in the US, with 21 reactors spread across 12 sites in the Midwest, Mid-Atlantic, and Northeast. As a result, the company seems poised to continue to target the data center sector as a major offtaker going forward.