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News & Events
New Agreement Signed With Ford Motor Company:
10/22/2003
Constellation Energy Group (NYSE: CEG) today announced that its subsidiary, Constellation NewEnergy, and Ford Motor Company's subsidiary, Ford Motor Land Corp., have concluded negotiations on an electricity supply contract. Under the terms of the agreement, Constellation NewEnergy will provide electricity to Ford facilities in Southeast Michigan. Constellation NewEnergy has enjoyed a multi-year relationship with Ford Motor throughout Illinois and Texas, and this latest contract represents a significant step for our entry into Michigan's electricity supply market, said Robert J. Korandovich, vice president of Constellation NewEnergy. â¬SExtending our ability to supply electricity to Ford's home base in Michigan is a clear recognition of the strength of that relationship and marks the first time that Ford will reap financial benefits from Michigan's Electric Choice Program. Progressive companies like Ford understand that choice among energy providers equals greater flexibility and cost savings. Constellation NewEnergy, based in Baltimore, is the nation's leading competitive electricity supplier. It serves more than 3,900 commercial and industrial customers across North America, representing 5,500 megawatts of peak load. The company recently began providing service in Michigan as a licensed participant in the Electric Choice Program enacted by the Michigan State Legislature's Customer Choice and Electricity Reliability Act. About Constellation NewEnergy Inc. A leading national competitive energy supplier, Constellation NewEnergy Inc. provides customized solutions and comprehensive energy services to commercial and industrial electricity customers in Maine, Massachusetts, Michigan, New York, New Jersey, Pennsylvania, Ohio, Illinois, Texas, Delaware, Maryland, Rhode Island, New Hampshire and California. A subsidiary of Constellation Energy Group, the company is committed to providing customized energy-related products and services with predictability and flexibility in the competitive electricity marketplace. More information about Constellation NewEnergy is available at www.newenergy.com. 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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