Constellation NewEnergy seeks to expand presence in Pittsburgh’s competitive power market

BALTIMORE, Oct. 7, 2004 (PRNewswire-FirstCall) Constellation Energy announced that its subsidiary, Constellation NewEnergy, North America’s leading supplier of competitive power to commercial and industrial users, is committed to expanding its presence in the Duquesne Light service territory.

Constellation NewEnergy President Clem Palevich said a recent ruling by the Pennsylvania Public Utility Commission (PUC) ensured that the nation’s competitive power suppliers could establish a strong and sustainable business presence, serving large commercial and industrial customers in the Pittsburgh area.

“This was a critical ruling that helped to preserve Pennsylvania’s commitment to vibrant and open power markets,” said Palevich. “The PUC has shown a strong commitment to competition and that commitment gives us the confidence we need to invest here and grow our presence in this market.

“This ruling was important not only for energy users but also for the future of a growing Pittsburgh economy because it will bring in new investment and jobs,” said Palevich.

Constellation NewEnergy, which will expand its existing staff in the company’s Pittsburgh office, offers commercial and industrial users customized energy solutions that include fixed or variable rate agreements and products that blend the two to provide flexibility in today’s fluctuating markets. Additionally, the company offers clients renewable energy products, on-line energy monitoring tools, real-time energy market analysis and a local customer service staff.

Constellation NewEnergy (www.newenergy.com), a member of Constellation Energ, is a 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 (www.constellation.com), a Fortune 500 integrated energy company, is a supplier of competitive energy to large commercial and industrial customers in North America. Constellation Energy manages supply and delivery of fuels and power for some of the world’s largest producers and consumers of electricity, natural gas, oil and coal.

Constellation Energy also owns or holds ownership interests in a diversified fleet of 35 power plants in 11 states, totaling approximately 12,500 megawatts of generating capacity, and delivers safe, economical and reliable electricity and natural gas in Central Maryland through its regulated utility, the Baltimore Gas and Electric Company (BGE). Constellation Energy is headquartered in Baltimore with nearly four dozen corporate and regional offices around the world. Constellation Energy’s combined revenues in 2003 totaled $9.7 billion.


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