CEG Constellation Energy Grp. Common Stock

BALTIMORE, Feb. 6 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that its subsidiary, Constellation NewEnergy, has offered its strong support to a Public Utility Commission of Texas report that finds the state's residents are saving significantly more on their electric bills in a competitive market than they would have under the prior regulated rate structure. Constellation NewEnergy, the state's fastest-growing competitive supplier and the nationwide leader, estimates that commercial and industrial power users in Texas have saved more than $3.5 billion since competition was introduced to the marketplace in 2002. "The Commission's study confirms a nationwide trend - competition leads to lower power costs," said Clem Palevich, president of Constellation NewEnergy. "The Commission's report covered only residential users and, while well done, it tells only a fraction of the story. Commercial users have saved billions and continue to save. These savings have helped to expand the Texas economy by reducing consumer prices and creating jobs in the state." The state Commission's study compared residential rates during the last four years of competition and forecasted what they would have been under a regulated structure. It found that customers saved considerably in a competitive market. For example, a residential customer in Houston who purchased from a competitive supplier beginning in January 2002 would have saved a total of $1,450 over regulated rates the past four years. A residential customer in Dallas would have saved $800 over the last four years by shopping in the competitive market. "Competition has been extraordinarily successful for business and residential users in Texas and it continues to be, particularly in a cycle of high commodity prices," said Palevich. "Competition continues to provide benefits to the state and we can save most business customers between 10 percent and 15 percent off the price to beat. We also offer the advantages of diverse products, long-term contracts, fixed rates and a variety of online management tools. These advantages would not exist in a regulated world." 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 with 2005 revenues of $17.1 billion, 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. First Call Analyst: 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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