Did the purchases of property and equipment of Constellation Energy for the quarter ended September 30, 2026 come to at or above 27.0% of its revenue?
Divide the purchases of property and equipment by the revenue that Constellation Energy reports for the quarter ended September 30, 2026 in its 10-Q or 10-K filing on SEC EDGAR. The answer is yes if the ratio is at or above 27.0%; no if it is below 27.0%.
If the source is late or silent: If Constellation Energy has not filed by November 16, 2026, or a filing restates a period the rule reads, the test is inconclusive, and the Result says what was read and what was missing.
If no
Cost-spreading keeps prices below the threshold
No if spending stays near recent levels, which have not reached 27 percent.
If yes
Households pay for data center load
Yes if capital spending jumps well above the 21.3 percent level seen the prior quarter, a sizable step up.
50%
NoYes
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The case · 4 people · 2 minutes
Cost-spreading keeps prices below the threshold1 people argue noHouseholds pay for data center load3 people argue yes
Higher demand allows utilities to distribute their large fixed infrastructure costs across a larger base of consumption, resulting in lower per-unit prices rather than the intuitive outcome of higher prices from higher demand.
Utility-scale generation moved only 231 TWh from 2007-2021, essentially flat. Then 320 TWh arrived 2021-2025, creating surge in demand. EIA forecasts electricity climbing from 17.3 cents/kWh in 2025 to 18.3c in 2026 and 18.7c in 2027. PJM capacity…
What would change the Call
The capital expenditure or revenue figure Constellation Energy reports for the September 2026 quarter on SEC EDGAR would move this.
The Call · Thesis 78 · Cost-spreading keeps prices below the threshold
The house leans to "Cost-spreading keeps prices below the threshold".
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The thesis
Will the EIA-reported US average residential electricity price for calendar year 2027 exceed 18.7 cents per kWh?
Data center load growth outpaces generation and transmission additions, pushing the national average residential electricity price above 18.7 c/kWh in 2027.