CEG Constellation Energy Grp. Common Stock

Combined Cycle Gas Facility, to be Completed in 2011, Would Boost Region's Power Supply BALTIMORE, Dec. 14 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced it has entered into an agreement with Conectiv Energy to purchase 545 megawatts (MW) of electric power to be produced at a new combined cycle natural gas plant to be developed in York County, Pa. Under the terms of the 545 MW tolling agreement, deliveries of power begin on June 1, 2011 and extend through May 31, 2017. Constellation Energy will manage all fuel input and power output at the facility. Constellation Energy will supply natural gas to the facility and provide payments over the delivery term to acquire the output of the facility. The Delta Power Plant is to be built in Peach Bottom Township, Pa., just north of the Maryland border. "This project will help to address the long-term need for additional power generation and bolster system reliability in the Mid-Atlantic Area Council (MAAC) and more specifically the Maryland-Pennsylvania region, while also expanding and diversifying Constellation Energy's energy supply portfolio," said Mayo A. Shattuck III, chairman, president and CEO, Constellation Energy. "It represents the kind of economical and environmentally responsible power supply that can be developed by the merchant sector in a well functioning competitive energy market such as PJM." Constellation Energy has previously announced a number of potential generation development projects in Maryland. In November, the company filed with the state Public Service Commission a certificate for public convenience and necessity (CPCN) for a potential 1,600 MW unit at its Calvert Cliffs nuclear plant in southern Maryland. The company is nearing the completion of feasibility studies for adding new natural gas-fired capacity at its Perryman facility in Harford County and return to operation of its Riverside 5 facility in Baltimore County. Additionally, the company has filed a CPCN request to return the retired Gould Street No. 3 natural gas-fired steam plant in Baltimore City to service as early as Summer 2008. This 103 MW facility was closed in 2003. Constellation Energy (http://www.constellation.com/), a FORTUNE 125 company with 2006 revenues of $19.3 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: Media, Lawrence McDonnell, +1-410-470-7433, or Investor Relations, Kevin Hadlock, +1-410-470-3647, both of Constellation Energy; or Conectiv Energy Media, MQ Riding, +1-302-451-5528, +1-302-463-1022, Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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