Constellation NewEnergy Signs Power Agreement with Chicago Cubs
February 22 2007 - 8:28AM
PR Newswire (US)
BALTIMORE, Feb. 22 /PRNewswire-FirstCall/ -- Constellation Energy
(NYSE:CEG) today announced that its subsidiary, Constellation
NewEnergy, has entered into a fixed-price power supply agreement
with the Chicago Cubs. Under the agreement, Constellation NewEnergy
will provide approximately 2.9 megawatts of electricity to serve
the needs of Wrigley Field, which includes all team executive and
operational offices. "As the second oldest ballpark in America, it
is important that we find ways to best preserve and meet the needs
of our organization and facilities," said Paul Rathje, director of
stadium operations for the Chicago Cubs. "Constellation NewEnergy
will help us manage our electrical costs and operational budget,
which will in turn allow us to focus on the many day-to- day
operational needs of Wrigley Park. Our ability to lock-in a fixed
rate with Constellation NewEnergy provides peace of mind, knowing
that we will be shielded from much of the current volatility of
electricity prices in the market." Wrigley Field welcomes more than
three million guests a year. The stadium has been expanded over the
last century to seat a maximum capacity of 41,118. By partnering
with Constellation NewEnergy, the Chicago Cubs join a growing
number of businesses in Illinois that have decided to switch to a
competitive provider. "We are thrilled to work with the Chicago
Cubs and to be selected as the electricity supplier to Wrigley
Field, which is considered a national treasure by many," said Julie
Hextell, vice president and business leader for Constellation
NewEnergy's Great Lakes region. "We are committed to working with
the Cubs to ensure that they enjoy long-term price stability and
budget certainty, which will enable them to better manage and
understand their energy costs and usage patterns." Constellation
NewEnergy (http://www.newenergy.com/), a wholly owned subsidiary 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
14,000 commercial and industrial customers throughout 37 states and
five Canadian provinces representing nearly 17,000 megawatts of
peak load and more than 350 billion cubic feet of annual natural
gas consumption. Constellation Energy
(http://www.constellation.com/), a FORTUNE 200 company with 2006
revenues of $19.2 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 78 generating units located throughout the
United States, totaling approximately 8,700 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:
Lawrence McDonnell of Constellation Energy, +1-410-470-7433 Web
site: http://www.constellation.com/ http://www.newenergy.com/
Company News On-Call: http://www.prnewswire.com/comp/084087.html
Copyright
Constellation Energy (NYSE:CEG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Constellation Energy (NYSE:CEG)
Historical Stock Chart
From Jul 2023 to Jul 2024