Constellation Energy Offers Residential Electricity Choice and Savings to 2.2 Million Chicagoland Homeowners and Renters
February 28 2011 - 9:00AM
Business Wire
Constellation Energy (NYSE:CEG), the nation's leading
competitive electricity supplier to business and public sector
customers, today announced it will offer 2.2 million Northeastern
Illinois residential electric consumers up to 12 percent savings
compared to Commonwealth Edison’s current Basic Electric Service
(BES) residential rate.
Constellation Energy is offering homeowners and renters who are
currently ComEd customers two ways to save on electricity: a
12-month pricing plan with an estimated 6-8 percent savings and a
24-month pricing plan offering an estimated 10-12 percent savings –
compared to current ComEd pricing for BES residential (non-electric
space heating) electric generation service.*
“Constellation Energy is pleased to provide Illinois consumers
with a very competitive option that helps them potentially save
money on their electric bills,” said Kathleen Hyle, senior vice
president, Constellation Energy, and chief operating officer of the
company’s commercial division. “Homeowners and renters in the ComEd
service territory can spend just a few minutes online to secure
low, no-hassle rates on their electricity service.”
"Constellation Energy is a recognized leader in the Illinois
business and public sector energy market, and has been providing
electric and natural gas service to thousands of the state's
largest employers, schools, hospitals and municipalities for more
than a decade," Hyle added. “As a market leader in Illinois and
nationwide, we're the logical choice for Illinois residential
electricity shoppers who are eager to save money by lowering their
current electricity rate.”
Marc Gordon, president and CEO of the Illinois Hotel &
Lodging Association and the first customer to sign up for
Constellation Energy’s Illinois residential service, said,
“Constellation Energy is a trusted electricity provider that
understands the Chicagoland market. I am thrilled Constellation
will now offer residents the reliable and cost-effective service it
has provided top Illinois businesses for years. This is an
important choice for homeowners. It’s easy to make the switch and I
am very pleased to be Constellation’s first residential customer in
Illinois.”
Constellation Energy’s Illinois residential pricing plans are
limited-time offers extending through March 31, 2011. Making the
switch to Constellation is easy and hassle-free:
- No sign-up or enrollment fee;
- Offer includes a 90-day customer
satisfaction period offering penalty-free termination; and
- There will be no interruption in a
customer's electricity service.
For customers who choose Constellation Energy, ComEd will
continue to bill the account, deliver electricity over the same
poles and wires, and handle inquiries about service outages. By
state law, customers can switch to a competitive electric supplier
and it will have no impact on utility service reliability.
Constellation Energy offers a simple online sign-up process at
home.constellation.com or consumers may call 1-866-577-4700. The
company's direct mail offer to Illinois homeowners and renters has
already begun. The direct mail offer will last through March 31,
2011. A comprehensive advertising campaign will support
Constellation Energy’s consumer education and outreach about its
Illinois residential electric choice offer.
The Illinois Commerce Commission (ICC) is the state agency that
oversees the competitive retail electric market in Illinois.
Through its regulations, the ICC has granted Constellation
NewEnergy, Inc. a license to operate as an alternative retail
electric supplier in Illinois. Additional information about
customer choice and competition in the Illinois retail electric
market can be found on the Illinois Commerce Commission’s website
at: http://www.pluginillinois.org/ Additional information about
customer choice can be found on ComEd’s website (ComEd).
The Illinois residential electric choice offer is being made by
Constellation NewEnergy Inc., a wholly-owned subsidiary of
Constellation Energy Group, Inc. In addition to Illinois,
Constellation Energy offers residential customer choice in Maryland
and New Jersey.
*Constellation Energy’s price does not include any taxes,
utility distribution charges or other utility fees, charges or
credits. Estimated savings are based on ComEd’s BES residential
(non-electric space heating) rate as in effect on February 15,
2011, which includes an Electricity Supply Charge of 7.6 cents and
a Transmission Services Charge of 0.73 cents. ComEd also invoices
its customers for Purchase Electricity Adjustment (PEA) costs in
the form of monthly varying charges or credits. PEA costs have been
excluded from the savings calculation. Electric space heating
customers may not save. ComEd’s rates are subject to change
beginning June 1, 2011 and therefore we cannot guarantee savings
over the full term of our price plans. For more information on our
price comparison visit home.constellation.com.
About Constellation
Energy
Constellation Energy (www.constellation.com) is a leading
competitive supplier of power, natural gas and energy products and
services for homes and businesses across the continental United
States. It owns a diversified fleet of generating units, totaling
approximately 12,000 megawatts of generating capacity, and is a
leading advocate for clean, environmentally sustainable energy
sources, such as solar power and nuclear energy. 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 $14.3 billion in 2010.
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