Talen Energy reports higher full-year profit on lower operating, energy expenses

Feb 27 (Reuters) - Utility firm Talen Energy TLN.O reported an increase in its annual profit on Thursday, helped by lower operating and energy expenses, sending the company's shares up 2.6% in extended trading.

The utility reported operation, maintenance and development expenses of $592 million in 2024, down about 8% from a year earlier. Energy expenses fell about 8% to $797 million.

In November, Talen was pursuing another chance to convince regulators to approve its agreement to supply more electricity to an Amazon AMZN.O data center connected to the utility's nuclear power plant in Pennsylvania.

The Federal Energy Regulatory Commission struck down the deal that month to increase the capacity of the data center at Talen's Susquehanna plant to 480 megawatts from 300 megawatts, noting that diverting power to a single customer could raise power bills in the region and cause grid reliability problems.

Houston-based Talen, however, reported a 17% fall in yearly operating revenue to $2.12 billion.

The company reported a net income attributable to stockholders of $998 million for the year ended December 31, up about 63%.