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News & Events
Constellation Energy Advances to No. 167 on FORTUNE 500 List:
04/12/2005
BALTIMORE. MD – PRNewswire-FirstCall/ -- Constellation Energy (NYSE: CEG) today announced that it jumped to No. 167 from 203 on FORTUNE magazine's annual ranking of America's 500 leading companies. This year's gain comes on the heels of last year's 149-slot advance, the greatest upward shift of any company on the 2004 list. The FORTUNE 500 list for 2005, which will be published in the magazine's April 18 edition, is based on publicly-traded companies' 2004 revenues, which for Constellation Energy exceeded $12.5 billion. "The significant growth in revenue and shareholder value during the past three years validates our business strategy to rapidly transform Constellation Energy from a regional utility into the leader in competitive energy markets," said Mayo A. Shattuck III, president, chairman and chief executive officer of Constellation Energy. "Today, we are fundamentally a much larger company with significant earnings power driven largely by unparalleled national scale and commitment to complete customer satisfaction. We continue to deliver strong financial and operating results, all the while redefining the competitive energy sector and expanding the company's position as the market leader in that arena." Constellation Energy now supplies nearly two-thirds of the FORTUNE 100 companies and is the No. 1 power supplier in both the retail and wholesale competitive energy markets in North America. For retail customers, Constellation Energy's subsidiary, Constellation NewEnergy, is the only company serving every North American competitive market. As the No. 1 wholesale supplier, Constellation Energy Commodities Group serves the power needs of distribution utilities, co-operatives and municipalities throughout the United States. Constellation Energy has experienced significant growth, and now manages more than 31,000 megawatts of peak electric load nationwide, up from 8,000 megawatts in 2002. Additionally, Constellation Energy's natural gas portfolio exceeds 300 billion cubic feet of natural gas per year. In March, FORTUNE magazine selected Constellation Energy for its list of "America's Most Admired Companies," ranking the company No. 1 in the energy sector. And, in December, Platts Insight chose Constellation Energy as its global "Energy Company of the Year." Constellation Energy, a FORTUNE 200 company based in Baltimore, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of more than 100 generating units located throughout the United States, totaling approximately 12,000 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion. |
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