Plug Power, Constellation Energy, Bloom Energy Shares Rise on Hydrogen Tax Rules

MT Newswires Live

Jan 04, 2025

Plug Power (PLUG), Constellation Energy (CEG) and Bloom Energy (BE) shares rose in recent Friday trading after the US Department of the Treasury issued final rules outlining eligibility criteria for hydrogen producers seeking tax credits.

Plug Power shares rose 8.2%, Constellation rose 3.7% and Bloom gained 6.3%.

The regulations incorporate "significant changes and flexibilities to help grow the industry and move projects forward" in conformity with emissions requirements for qualifying clean hydrogen, the Treasury said Friday in a statement.

The changes provide certainty and flexibility for project developers, including participants in the Department of Energy's Regional Clean Hydrogen Hubs program, the Treasury said.

Price: 2.52, Change: +0.1900, Percent Change: +8.15

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