BALTIMORE, March 4, 2005 (PRNewswire-FirstCall via COMTEX) — FORTUNE magazine has selected Constellation Energy as the most admired energy company for its prestigious 2005 list of “America’s Most Admired Companies.”
“We are pleased to be recognized by FORTUNE as the nation’s most admired energy company,” said Mayo A. Shattuck III, president, chairman and chief executive officer of Constellation Energy. “Selection for this prestigious list is an acknowledgment of the transformation that has taken place at Constellation Energy during the past three years. It is especially gratifying given that many of those polled are customers and competitors of Constellation Energy. FORTUNE’s ranking combined with our strong financial results is yet another indicator that Constellation Energy has built a unique and powerful business that is well-positioned for the future.”
Constellation Energy earned its top ranking after scoring high in several key areas including innovation, employee talent, financial soundness, quality of management, use of corporate assets, social responsibility, long-term investment and quality of products and services.
FORTUNE and its survey partner, Hay Group, a global human resources and organizational consulting firm, asked the top managers of 582 companies (the largest by revenues in key business sectors) to judge their competition. In all, 10,000 executives, directors and securities analysts rated the companies in their industry on eight attributes. To determine the overall top 10 companies, voters were asked to name the companies they most admire in any business from a pool that included last year’s top quartile of finishers plus the top 2 of each industry list.
Constellation Energy’s placement as the leading energy business comes on the heels of last year’s jump to No. 203 from No. 352 on FORTUNE’s annual ranking of America’s 500 leading companies. Constellation Energy’s advance of 149 slots was the greatest advance of any company on the 2004 list.
In December, Constellation Energy was designated global “Energy Company of the Year” by Platts/BusinessWeek Insight magazine, a division of The McGraw- Hill Companies, and the publisher of several leading energy industry publications.
About Constellation Energy [ www.constellation.com ]
Constellation Energy, a FORTUNE 200 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, totaling approximately 12,500 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion.