Constellation Energy Signs Power Purchase Agreement With Conectiv for Proposed 545MW Plant in York County, PA.
December 14 2007 - 8:15AM
PR Newswire (US)
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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