05:02 PM EDT, 09/20/2024 (MT Newswires) -- Constellation Energy ( CEG ) expects to meet publicly with the US Nuclear Regulatory Commission "within the next two to three weeks" to begin a review of the utility's proposed restart of the Three Mile Island nuclear reactor in Pennsylvania, a company spokesperson said in a late Friday email to MT Newswires.

Constellation expects to submit its initial documents to the regulator before the end of the year and begin to address more detailed portions of its plan for review starting in around four months, the spokesperson said. The regulatory review should be completed sometime in 2027. "We are very confident in that timing," the company's spokesperson added.

Constellation plans to spend $1.6 billion restoring the facility, a company spokesperson told MT Newswires in a separate email earlier in the day. The plant is expected to be online in 2028 as part of a 20-year power purchase deal with Microsoft ( MSFT ) , which is expecting to use the electricity to power some of its future data center needs, Constellation said in a statement.

Constellation shares closed more than 22% on Friday trade after announcing the proposed restart at Three Mile Island.

"It's up to Constellation to lay out its rationale for justifying restart, so we're prepared to engage with the company on next steps," a spokesperson for the regulator said in an email to MT Newswires late Friday.

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