Constellation Energy Continues Steady Retail Growth with Acquisition Of Oklahoma Retail Gas Provider
February 02 2012 - 8:00AM
Business Wire
Constellation Energy (NYSE: CEG), a leading competitive energy
provider, today announced it has closed the acquisition of ONEOK
Energy Marketing Company (OEMC), a Tulsa, Okla., retail natural gas
marketing company with approximately 26,000 customers.
The purchase of OEMC, a subsidiary of ONEOK, Inc. (NYSE: OKE),
for $22.5 million, plus working capital, was announced on Dec. 1,
2011. The acquisition expands Constellation Energy’s business and
residential customer base in seven states: Kansas, Oklahoma,
Missouri, Texas, Nebraska, Wyoming and Illinois. The addition of
Wyoming expands Constellation’s customer footprint to 46
states.
“We’re pleased to bring OEMC into the Constellation family and
broaden the natural gas services we can offer in the mid-continent
region,” said Mark Huston, head of Constellation Energy’s retail
business. “We look forward to delivering the customer experience
and innovative solutions that are the hallmark of Constellation’s
growing retail business.”
The OEMC purchase is Constellation’s third retail acquisition in
the past year – growth that more than doubled the company’s
customer base to 1.1 million customers. In 2011, Constellation
Energy acquired MXenergy, a Connecticut-based supplier of natural
gas and electricity with a half million customers in 15 states and
two Canadian provinces, and StarTex Power, a Houston retail
electric provider with approximately 170,000 customers.
Constellation Energy demonstrates its commitment to
environmental stewardship and a clean energy future by delivering
innovative energy solutions that help customers control energy use,
reduce greenhouse gas emissions and utilize sources of renewable
energy.
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.
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
