Constellation Energy Completes Acquisition of Energy Management and Demand Response Leader CPower
October 11 2010 - 7:04AM
Business Wire
Constellation Energy (NYSE: CEG) today announced it has
completed its acquisition of CPower, the energy management and
demand response provider. With the closing of the transaction,
Constellation Energy now manages more than 1,500 megawatts of
dispatchable demand response capacity throughout North America.
“Demand response programs will be critical components of the
smart grid and provide customers direct financial incentives to
operate more efficiently and sustainably,” said Kathleen Hyle,
senior vice president, Constellation Energy, and chief operating
officer of the company’s commercial division. “We are excited by
the opportunities presented by the CPower acquisition—especially
the addition of CPower’s talent, innovations, and its customer and
partner network. We look forward to serving new customers and
business partners, and expanding the full range of Constellation
Energy’s products and services throughout markets served by both
companies.”
“We are excited to join the Constellation Energy team in an
endeavor to provide unparalleled value to our customers and
business partners now and for the foreseeable future, and to
develop innovative offerings based upon our VirtuWatt platform that
have otherwise been unavailable in demand response markets,” said
Gary Fromer, chief executive officer, CPower, who joins
Constellation Energy as senior vice president of load response.
“The result is a great success for our community of
stakeholders.”
Constellation Energy manages and aggregates demand response
capacity programs in New York, New England, the Mid-Atlantic states
(PJM), California, Texas and Ontario, Canada. In addition to
providing demand response programs, energy efficiency and renewable
energy solutions, Constellation Energy is a leader in competitive
electricity and natural gas supply in the U.S.
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading
supplier of energy products and services to wholesale and retail
electric and natural gas customers. It owns a diversified fleet of
generating units located in the United States and Canada, totaling
approximately 9,000 megawatts of generating capacity, and is among
the leaders pursuing the development of new nuclear plants in the
United States. The company delivers electricity and natural gas
through the Baltimore Gas and Electric Company (BGE), its regulated
utility in Central Maryland. A FORTUNE 500 company headquartered in
Baltimore, Constellation Energy had revenues of $15.6 billion in
2009.
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
