CEG Constellation Energy Grp. Common Stock

SCRIBA, N.Y., July 13 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that its Nine Mile Point Nuclear Station has agreed to terms on a five-year contract with Local 97 of the International Brotherhood of Electrical Workers (IBEW). Negotiations began in mid-May, marking the first full contract negotiations between Constellation Energy and the IBEW. The previous contract, which expired June 30, 2006, had been negotiated between the IBEW and Niagara Mohawk, the licensed owner of the nuclear facility until it was acquired by Constellation Energy in 2001. "This is a win-win for all concerned," said Tim O'Connor, vice president of Nine Mile Point. "I'm pleased that we've been able to come to terms on a new contract which balances the needs of our employees, Nine Mile Point, and Constellation Energy." A tentative agreement between Constellation Energy and the IBEW Local 97 was reached on June 23. However, the contract was extended to allow for voting after the July Fourth holiday. The represented employees voted to ratify the agreement during voting which took place on July 10, 11, and 12. 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: Dave Joslin, +1-585-771-5289, or Maria Hudson, +1-315-349-2637, both of Constellation Energy Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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