Constellation NewEnergy Serves Electricity to USTA National Tennis Center in Flushing, N.Y.
September 13 2004 - 10:20AM
PR Newswire (US)
Constellation NewEnergy Serves Electricity to USTA National Tennis
Center in Flushing, N.Y. Contract Provides Seven Megawatts to
Arthur Ashe Stadium and Other Tennis Facilities NEW YORK, Sept 13
/PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today
announced that its subsidiary, Constellation NewEnergy, has entered
into an electricity supply agreement with the United States Tennis
Association National Tennis Center in Flushing, N.Y. The USTA
National Tennis Center is the largest public tennis facility in the
world and includes Arthur Ashe Stadium, Louis Armstrong Stadium,
and 75 other indoor and outdoor tennis courts. The National Tennis
Center is best known as the home of the U.S. Open. "The USTA Tennis
Center hosts one of the most exciting tournaments in all of sports
and also allows New Yorkers to enjoy tennis year-round in a
state-of-the-art facility," said Clem Palevich, president,
Constellation NewEnergy. "We're proud to be the power provider to
this great venue." "We had to consider the unique operating profile
of the USTA as we helped it develop a strategy for electricity
supply," said Deirdre Lord, vice president of Constellation
NewEnergy's New York operations. "It was important for the USTA to
couple price stability with flexibility and this contract provides
both." "Constellation NewEnergy provided us with options that
allowed us to reduce our exposure to price volatility," said Dan
Zausner, managing director, USTA National Tennis Center. "It
offered us a product that combines the stability of a fixed price
with the flexibility of an indexed contract. This agreement will
help us to reduce our exposure to potentially volatile electricity
prices during the U.S. Open, which is when we use the most
electricity." Constellation NewEnergy, a member of Constellation
Energy, is a leading competitive supplier of electricity, natural
gas and energy related services to commercial and industrial
customers throughout North America. Constellation NewEnergy
operates in all competitive energy markets throughout the United
States and Canada, providing products that enable customers to
effectively manage and control energy costs. Constellation
NewEnergy's regional expertise coupled with its national presence
provides customers with customized energy products and services
while leveraging the assets of one of the strongest integrated
energy companies in North America. Constellation NewEnergy, based
in Baltimore, serves more than 8,000 commercial and industrial
customers throughout 31 states and 3 Canadian provinces
representing more than 9,000 megawatts of peak load and more than
300 billion cubic feet of annual natural gas consumption.
Constellation Energy, a Fortune 500 company based in Baltimore, is
the nation's leading competitive supplier of electricity to large
commercial and industrial customers and one of the nation's largest
wholesale power sellers. Constellation Energy also manages fuels
and energy services on behalf of energy intensive industries and
utilities. It owns and operates a diversified fleet of 35 power
plants in 12 states. The company delivers electricity and natural
gas through the Baltimore Gas and Electric Company (BGE), its
regulated utility in Central Maryland. In 2003, the combined
revenues of the integrated energy company totaled $9.7 billion.
DATASOURCE: Constellation Energy CONTACT: Larry McDonnell,
Constellation Energy, +1-410-234-7433 or +1-410-230-9858 Web site:
http://www.constellation.com/ Company News On-Call:
http://www.prnewswire.com/comp/084087.html
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