CORRECTING and REPLACING Constellation Energy Continues Electricity Choice Savings Offered to New Jersey Residential Consumers

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The corrected release reads:

CONSTELLATION ENERGY CONTINUES ELECTRICITY CHOICE SAVINGS OFFERED TO NEW JERSEY RESIDENTIAL CONSUMERS

Consumers May Choose National Electricity Supplier, Use Online Calculator to Compute Estimated Savings Below PSE&G and JCP&L Rates

Constellation Energy (NYSE: CEG), the nation's leading competitive electricity supplier, today announced continued electricity savings offers for New Jersey residential consumers that include an online calculator they can use to add up estimated savings.

The new electricity savings offers mailed this week continue the initiative Constellation Energy began in September when it offered residential consumers in the service territories of Public Service Electric & Gas (PSE&G) and Jersey Central Power & Light (JCP&L) the choice to reduce costs on electricity. To date, more than 16,000 residential consumers have signed up for Constellation Energy’s electric pricing plans.

Constellation Energy estimates that residents of a single-family home using an average of 1500 kilowatt hours per month (kWh) could save about $500 during the first 24 months of an agreement under one of its current pricing plans, assuming the utility rate remains unchanged beyond May 2011.

“We have been privileged to serve business customers in New Jersey for almost a decade and look forward to continuing to offer significant energy saving opportunities to residential customers as well,” said Kenny Matula, senior vice president of Constellation Energy’s retail business. “By spending just a few minutes online, a consumer may select one of our pricing plans to lower their current electricity rate. We’ve also upgraded our website so consumers can instantly see their estimated savings by clicking our online savings calculator.”

Details on specific terms and conditions of Constellation Energy’s residential electricity pricing plans for New Jersey customers are available at home.newenergy.com, along with the online calculator that enables consumers to determine their estimated savings.

The company’s latest direct mail offers to New Jersey homeowners and renters will arrive in mailboxes this week; these residential pricing plans are limited-time offers available through Dec. 31. Consumers may sign up via telephone or the home.newenergy.com web site. There is no sign-up fee, and there will be no interruption in a customer’s electricity service.

The New Jersey Board of Public Utilities (BPU), the state agency that regulates energy companies doing business in New Jersey, licenses energy suppliers such as Constellation Energy to compete with the state’s utilities. PSE&G and JCP&L participate in New Jersey’s Energy Choice initiative and have consumer education information on their websites.

In the residential sector, the sole change experienced by consumers who buy electricity through Constellation Energy is in the kWh rate for electric generation service listed on their monthly utility bill. Everything else remains the same: PSE&G and JCP&L continue to handle billing, and accept and respond to all service inquiries, including queries about outages. Contracts with PSE&G or JCP&L related to service and maintenance of appliances are not impacted. Per New Jersey law and BPU regulations, electricity competition has no impact on the transmission or distribution of electricity. Constellation Energy does not offer budget billing at this time.

New Jersey residential customers wishing to buy from Constellation Energy may sign up online at home.newenergy.com or by calling 1-877-997-9995. The offer is being made by Constellation NewEnergy, Inc., a wholly-owned subsidiary of Constellation Energy Group, Inc.

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 leading advocates for the development of new nuclear plants in the United States. The company delivers electricity and natural gas through 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.

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