Capital Power (CPX) got a 6% lift on a contract extension at its gas facility in Michigan, adding 10 years and $100M of adj. EBITDA annually…

… thanks to an ~80% increase in the contracted price, as data center demand breathes some life back into U.S. power markets.

That same theme has driven the bid for gas-fired power producers, CPX included - which currently trades over two turns above its long-term average.