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Jeremy Tunnett

Research Analyst at JPMorgan Chase & Co.

Jeremy Tonet is an Executive Director and Senior Equity Research Analyst at J.P. Morgan, specializing in Utilities and Basic Materials with a primary focus on the Energy sector. He covers a broad set of companies including Constellation Energy, Targa Resources, Kinder Morgan, and Vonage Holdings, among others, and has generated a 58% success rate on more than 495 publicly documented ratings, with an average return of approximately 8.3%. Tonet began his analyst career in the early 2010s and has issued over 600 ratings across 59 unique stocks, establishing a reputation for consistency and accurate price target projections, most notably a top recommendation yielding a 72.61% return in 43 days for Vonage Holdings. He holds senior equity analyst credentials as Executive Director at J.P. Morgan and is presumed to maintain required industry licenses and FINRA registrations for analyst activity at a major investment bank.

Jeremy Tunnett's questions to Constellation Energy (CEG) leadership

Question · Q3 2025

Jeremy Tunnett inquired about the progress at Three Mile Island and any updated thoughts on its restart. He also asked for insights into recent power market movements, particularly rising energy prices, and their potential impact on contract discussions.

Answer

President and CEO Joe Dominguez confirmed that progress at Three Mile Island is going well, with critical items completed and no new challenges emerging, noting the plant's condition is better than anticipated. Executive Vice President and Chief Commercial Officer Jim McHugh elaborated on power markets, stating that nearby months saw a small rebound due to gas, but longer-duration power upside has been stronger, outperforming gas. He attributed this to expanding heat rates and spark spreads driven by data growth, general load growth, and anticipated retirements, leading to expectations of higher energy prices and favorable impacts on asset sales.

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