Constellation
NewEnergy Applauds Pennsylvania Public Utility Commission for Removal of
Barriers to Retail Electric Competition
BALTIMORE, Aug 06,
2009 (BUSINESS WIRE) -- Constellation NewEnergy, a subsidiary of
Constellation Energy (NYSE:CEG), today commended the Pennsylvania Public
Utility Commission for its proactive efforts to support the development of
retail electric competition in the PPL Electric service area. The
Commission's Order, issued today, begins the process of removing certain
operational barriers for competitive retail electric generation suppliers,
such as Constellation NewEnergy, to begin offering service and choice to
customers in preparation for the expiration of rate caps at the end of 2009.
"The Commission once again reaffirmed the Commonwealth's
commitment to creating a well-functioning, competitive retail market,"
said David I. Fein, vice president of Constellation Energy and director of
retail energy policy. "The Order adopted today contains a well-reasoned,
detailed and thorough analysis of various key operational and other issues
that are necessary for Pennsylvania energy customers to be able to benefit from
suppliers competing for their business."
Key provisions in the order include mechanisms to ensure that
customer information is standardized and up-to-date while still maintaining
appropriate consumer protections. Electronic access to key usage data, as
provided by today's Order, is essential to providing accurate price
quotations and timely billing. Allowing access to energy consumption data at
frequent time intervals will also give energy providers the ability to offer
innovative usage-based plans that save energy and reduce costs for customers.
The Order also requires educational programs for customers to better
understand how restructured markets function and what new energy options will
be made possible by competition.
"The Commission's action today, coupled with the efforts of
PPL Electric to promote customer choice and retail competition, is in line
with the high volume and demand that we have seen by customers wishing to
explore their competitive options in this new market environment," said
Brian Weatherford, regional vice president of sales for Constellation
NewEnergy. "Constellation NewEnergy has been actively conducting
seminars, webinars and other similar forums to educate business consumers
about the impending changes to the market structure in the PPL Electric
service territory."
As evidence of this customer awareness and desire to explore
competitive options, Constellation NewEnergy has been selected as the
endorsed supplier to several regional chambers of commerce in the PPL
Electric service area and a number of public sector institutions.
"Today's order also creates a high degree of regulatory
certainty in which to operate, which is critical to attracting market
participants and providing a high degree of choice for energy
customers," said Fein. "The order removes any uncertainty about how
the market will operate, which gives generation suppliers an assurance that
they can invest resources in the PPL Electric service area and offer programs
and price-hedging strategies that meet the budget requirements and
environmental and sustainability goals of customers."
Constellation NewEnergy supplies electricity to more than
two-thirds of FORTUNE 100 businesses nationwide, delivering approximately
14,100 megawatts of peak load last year.
About Constellation NewEnergy
Constellation NewEnergy (www.newenergy.com)
is a leading competitive supplier of electricity, natural gas and
energy-related services to commercial, industrial and institutional customers
throughout the United States. A subsidiary of Constellation Energy (NYSE:
CEG), Constellation NewEnergy operates in all competitive energy markets
throughout the U.S., providing products that enable customers to effectively
manage and control energy costs.
About Constellation Energy
Constellation Energy (www.constellation.com)
is a leading supplier of energy products and services to wholesale and retail
electric and natural gas customers. It owns a diversified fleet of generating
units located throughout the United States, totaling approximately 9,000
megawatts of generating capacity, and is among the leaders pursuing the
development of new nuclear plants in the United States. The company delivers
electricity and natural gas through the Baltimore Gas and Electric Company
(BGE), its regulated utility in Central Maryland. A FORTUNE 500 company
headquartered in Baltimore, Constellation Energy had revenues of $19.8
billion in 2008.
SOURCE: Constellation Energy
Constellation Energy
Aaron Koos, 410-470-7433
or
LaTorre Communications
David LaTorre, 717-234-1333