BALTIMORE, Nov. 2, 2004 (PRNewswire-FirstCall) — Constellation Energy announced that the new name for its wholesale origination and risk management arm, Constellation Energy Commodities Group, is now official.
Announced in late August, the name change, from Constellation Power Source to Constellation Energy Commodities Group, was phased-in while regulatory and other arrangements were completed.
Commodities Group President Thomas V. Brooks said the change was made because the previous name reflected only a portion of the company’s growing portfolio.
“We’ve grown considerably from our days as a power marketer and we wanted a name that reflected the scope and diversity of our expanding operations,” said Brooks. “Today, we’re the leading supplier of competitive wholesale electricity in North America, a significant presence in coal and natural gas markets, and a full-service, global commodities business.”
The Commodities Group, headquartered in Baltimore, has approximately 400 employees and offices on three continents.
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.