New York, Jan 18, 2026, 08:29 EST — Market closed
- NuScale Power shares jumped roughly 7% on Friday, ending the day at $20.19
- Washington’s move to push emergency power measures in the PJM grid thrust “reliable baseload” supply back into the spotlight
- Traders are focused on Tuesday’s reopening and a Jan. 20 NuScale unit-exchange notice that could impact share supply
NuScale Power Corporation shares closed Friday around 7% higher, settling at $20.19. The stock fluctuated between $18.88 and $20.53 during the session, with roughly 34.9 million shares traded.
Investors responded sharply to new signals from Washington about the U.S. power crunch driven by surging electricity demand from data centers. The White House called on PJM Interconnection to conduct an “emergency” procurement auction and backed a plan requiring data centers to cover the costs of new generation built for them — a concept known as “bring your own generation,” or BYOG. 1
PJM has since detailed its strategy, proposing a framework that mandates new large power users to either provide their own generation or face possible curtailment during peak times. “This is not a yes/no to data centers,” PJM CEO David Mills said, emphasizing it as a reliability issue that affects consumers. 2
The Energy Department announced plans to develop over $15 billion in “reliable baseload” power across the Mid-Atlantic, aiming to shift a larger share of costs onto data centers instead of households. “High electricity prices are a choice,” said Energy Secretary Chris Wright in a department statement. 3
NuScale, known for its small modular reactors—compact nuclear plants built in sections—has attracted investors betting on tighter power supplies and a move toward reliable, low-carbon energy. Reuters reported last year that U.S. regulators gave the nod to a larger version of NuScale’s reactor design. 4
The same policy news shook other power-related stocks. Jefferies analysts labeled GE Vernova the “clearest winner” from the proposed emergency PJM auction but cautioned that the move might squeeze some existing generators. 5
Broader U.S. stocks ended Friday on a higher note after a turbulent week, as earnings season got underway. Markets will be closed Monday in observance of Martin Luther King Jr. Day. 6
NuScale supporters face a hurdle: the White House and PJM plans focus on near-term reliability and market adjustments, yet new nuclear projects—particularly first-of-a-kind designs—demand years of regulatory approval and hefty financing. Should policy lean toward faster options like gas plants, SMR developers might not see benefits right away.
Funding risk remains a key issue for NuScale. In a December filing, the company revealed shareholders had approved a boost in authorized Class A common stock from 332 million to 662 million shares, giving NuScale greater leeway to raise capital through equity issuance. 7
Investors are keeping an eye on the potential share supply linked to NuScale’s “up-C” structure. According to the company’s investor materials, NuScale LLC unitholders have the option to swap units (along with corresponding Class B shares) for Class A stock. The next quarterly exchange notice is set to be sent out on Jan. 20, with elective notices due by Feb. 4 and the actual exchange happening on March 6. 8
Markets reopen Tuesday, and traders will be eyeing if data-center power developments continue to funnel interest into nuclear-linked stocks. They’ll also be looking for any updates from PJM or federal officials on the auction plan and its schedule in the coming days.
