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News & Events
Constellation NewEnergy Signs Power Agreement:
05/25/2005
BALTIMORE. MD – Constellation Energy (NYSE:CEG) today announced that its subsidiary, Constellation NewEnergy, has been selected by the City of Boston to supply 50 megawatts of electricity to all of its municipal buildings and accounts. The agreement includes schools, libraries, water and sewer facilities, as well as traffic and street lights. In addition, Constellation NewEnergy will be supplying 100 percent renewable electricity to City Hall. This is the first time the City of Boston has chosen a competitive supplier for its 300 electricity accounts to reduce and stabilize electricity costs. Constellation NewEnergy supplies more cities and towns across Massachusetts than any other competitive provider. We continue to deliver products and services that meet the needs of municipalities throughout the state of Massachusetts, said Clem Palevich, president, Constellation NewEnergy. For the City of Boston, buying a portion of their electricity sourced from renewable resources was an important part of the citys procurement strategy. We are pleased that the City of Boston has recognized the benefits of the competitive electricity supply marketplace and has chosen Constellation NewEnergy as its supplier, said Michael Kagan, vice president of Constellation NewEnergys New England region. We are committed to providing the best billing and reporting capabilities in the industry and understand the critical importance to municipal officials managing their energy use. Constellation NewEnergy, a member of Constellation Energy (NYSE: CEG), is a leading competitive supplier of electricity, natural gas and energy related services to commercial and industrial customers throughout North America. Constellation NewEnergy operates in all competitive energy markets throughout Canada and the United States, providing products that enable customers to effectively manage and control energy costs. Constellation NewEnergy's regional expertise coupled with its national presence provide customers with customized energy products and services while leveraging the assets of one of the strongest integrated energy companies in North America. Constellation NewEnergy, based in Baltimore, serves more than 8,000 commercial and industrial customers throughout 31 states and 3 Canadian provinces representing more than 12,000 megawatts of peak load and more than 300 billion cubic feet of annual natural gas consumption. 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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