CEG Constellation Energy Grp. Common Stock

Constellation NewEnergy Signs $100 Million Electricity Agreement With Priority Power Management BALTIMORE, Dec. 2 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:CEG) today announced that its subsidiary, Constellation NewEnergy, has finalized an electricity purchase contract valued in excess of $100 million with Priority Power Management, a Texas-based, independent energy management and consulting services firm. The agreement calls for Constellation NewEnergy to supply electricity to a cluster of 78 Texas companies pooled together and represented by Priority Power Management to provide the group with the most competitive rates for electricity. "This arrangement with Constellation NewEnergy is unique in that it allows us to address the needs of a large number of energy users with diverse energy needs," said Pat Ennis, the founder and a principal with Priority Power Management. "Constellation NewEnergy was selected because of its ability to maximize the buying power of the group, while still addressing the unique issues of each company." Each of the companies was presented with a customized contract designed to meet its specific budget, term and risk requirements. The customers are located in Dallas, Fort Worth, Houston, Midland and South Texas, with facilities throughout the state, including banks, oil and gas companies, real estate companies, government entities and manufacturing facilities, according to Ennis. "We pride ourselves on being flexible and providing a range of products and unparalleled customer service to meet the needs of Texas businesses," said Clem Palevich, president, Constellation NewEnergy. "This agreement most certainly demonstrates these capabilities." "We are delighted that we were selected as the Retail Electric Provider for all business entities related to this new agreement for electric power and appreciate the trust these businesses have placed with us to serve their electricity needs," said David Bat, vice president of the Texas market for Constellation NewEnergy. Constellation NewEnergy (http://www.newenergy.com/), a member of Constellation Energy (NYSE:CEG), 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 10,000 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 or co-owns 107 generating units at 35 locations in 11 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. Priority Power Management (http://www.prioritypower.net/) is a leading Texas-based independent energy management and consulting services firm to large commercial and industrial customers. Priority Power Management provides unbiased and objective energy management services in the areas of energy information, supply and risk management and demand-side management. Its client base includes oil and gas companies, industrial manufacturing, healthcare, commercial real estate, governmental, food service, retail and financial services firms. Since its establishment in 2001, Priority Power Management has procured and managed in excess of $450 million of power and natural gas on behalf of others from its offices in Midland/Odessa, Dallas/Fort Worth and Houston. CONTACT: Larry McDonnell, Constellation Energy, +1-410-234-7433, +1-410-230-9858. DATASOURCE: Constellation Energy CONTACT: Priority Power Management: John Bick, +1-817-261-5100, , or Pat Ennis, +1-432-620-9100, ; or Larry McDonnell, Constellation Energy, +1-410-234-7433, +1-410-230-9858 Web site: http://www.prioritypower.net/ Web site: http://www.constellation.com/ http://www.newenergy.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

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