CEG Constellation Energy Grp. Common Stock

BALTIMORE, Nov. 17 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) issued the following statement regarding today's announcement by Gov. Ehrlich of the Maryland Clean Power Rule: While the new Maryland Clean Power Rule announced today by Gov. Ehrlich has yet to be placed into regulatory language that can be evaluated by Constellation Energy, the rule itself appears to be more stringent than requirements in neighboring states, including those upwind, which produce the majority of air pollution in Maryland. Constellation Energy is hopeful that the final rule will provide the necessary flexibility to allow Maryland power plants to remain cost-effective while the state achieves air quality attainment. Without the flexibility for cost-effectively meeting new targets, the price paid by Maryland energy consumers could unnecessarily increase. Constellation Energy remains committed to enhancing air quality in Maryland. Constellation Energy was one of the first energy companies in the nation to install large-scale selective catalytic reduction units (at the company's Brandon Shores power plant in Anne Arundel County, Md.), thereby significantly reducing NOx, a precursor to ozone and a bay contaminant. The company also has utilized low sulfur coal at its largest power plants for decades. Constellation Energy is proud of its environmental record. Since 1999, Constellation Energy has invested approximately $250 million on emissions- reducing equipment and upgrades. Constellation Energy indicated earlier this year that it expects to spend $500 million to $600 million on additional air pollution emission controls through the end of the decade, which will result in significant reductions in emissions of sulfur dioxide, nitrogen oxides and mercury. Constellation Energy has, therefore, committed to investing $750 million to $850 million to help improve Maryland's air quality. Constellation Energy's position remains that national and regional programs are much more effective than state-by-state approaches for addressing air pollution. Constellation Energy will continue to exercise its leadership role in environmental stewardship in Maryland, while working to ensure that its customers continue to have access to competitively priced electricity. 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: Robert L. Gould, Constellation Energy, +1-410-234-7433 Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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