CEG Constellation Energy Grp. Common Stock

BALTIMORE, July 11 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) announced today that its subsidiary, Constellation NewEnergy, has signed a 1.2 megawatt power supply contract with The Wilmington Country Club in Wilmington, Del. The fixed-price contract includes seven accounts with contract terms ranging from 24 to 60 months. "The Wilmington Country Club is one of the finest private country clubs in the United States," said Kenneth Chodnicki, vice president and general manager of Constellation NewEnergy's Mid-Atlantic region. "We are happy to be able to address its needs in the highly competitive Delaware market. We hope to be the club's energy supplier well into the future." "As we considered the increases in utility rates in the Delaware market, and the trend of electricity prices increasing yearly by 27 percent to 37 percent the past four years, it was important for us to find a way to save on our electricity costs and keep our prices stable for years to come," said Phil Iannelli, general manager of The Wilmington Country Club. "Constellation NewEnergy was able to meet both our savings goal and our stability needs, and we felt confident signing a contract with North America's leading competitive energy supplier." 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. DATASOURCE: Constellation Energy CONTACT: Larry McDonnell, 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

Copyright