CEG Constellation Energy Grp. Common Stock

BALTIMORE, Oct. 24 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that its subsidiary, Constellation NewEnergy, has signed a power supply contract with Canton, New York-based St. Lawrence University. The agreement with St. Lawrence will allow the campus to effectively manage volatile energy prices by securing portions of its electric load on a stable fixed price, while the remainder is placed on a variable rate. This will give the university protection against rising energy prices and allow it to benefit from lower rates if power markets decline. "Given the present uncertainty of the environment, we felt it was very important to solidify a proactive strategy for managing our energy costs, particularly as winter season nears," said Thomas Coakley, vice president of administrative operations, St. Lawrence University. "We feel confident in our new partnership with Constellation NewEnergy. Constellation presented us with an array of innovative products, competitive pricing and supportive customer service. Equally important, they offered the knowledge and expertise we were seeking in an energy partner." "Constellation NewEnergy believes that customers need to be proactive and aggressive in managing their electricity supply, especially in today's market environment," said Robert Weir, vice president for Constellation NewEnergy's New York Region. "Our goal is to provide solid risk management strategies, guidance and ongoing support to our customers. We feel that St. Lawrence University is taking the proper approach to stabilizing its energy expenses, and we are proud to serve their needs." St. Lawrence University is a New York university that provides an undergraduate education to students in the field of liberal arts. Serving over 2000 students and offering a faculty of 207, St. Lawrence University is the oldest continuously coeducational institution of higher learning in New York State. Among St. Lawrence's distinguished alumni are communications magnate and diplomat Owen D. Young, for whom the Young Plan for European war reparations was named; Olympia Brown, the first woman in U.S. history to be ordained a minister; author Lorrie Moore; United States Senator Susan Collins; and actors Kirk Douglas and Viggo Mortensen. Constellation NewEnergy (http://www.newenergy.com/), 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, provides 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 10,000 commercial and industrial customers throughout 31 states and 3 Canadian provinces representing more than 15,000 megawatts of peak load and more than 300 billion cubic feet of annual natural gas consumption. Constellation Energy (http://www.constellation.com/), 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. DATASOURCE: Constellation Energy CONTACT: Larry McDonnell of Constellation Energy, +1-410-234-7433 Web site: http://www.constellation.com/ http://www.newenergy.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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