More Businesses
Teaming on Energy Purchases Through Boston Buying Power Program
Constellation
NewEnergy and Taylor Consulting Helping Greater Boston Businesses Reduce
Usage, Save Energy and Utilize Green Power
BOSTON, Oct 26, 2009
(BUSINESS WIRE) -- In the eleven months since Mayor Thomas M. Menino
announced the formation of Boston Buying Power, hundreds of Boston's small
businesses have teamed together to purchase electricity and control energy
costs on the open market. In a recent example of Boston Buying Power program
participants gaining access to energy prices and plans not normally available
to individual small businesses, retail energy provider Constellation
NewEnergy, a subsidiary of Constellation Energy (NYSE: CEG) signed 178
businesses to an aggregated electricity supply agreement for 117,000,000
kilowatt-hours of electricity. The agreement gives participating businesses
access to fixed pricing for a year and includes a provision that 10 percent
of the electricity will come from renewable energy sources.
"Boston Buying
Power gives service providers like Constellation NewEnergy the ability to
offer large groups of small businesses competitive rates, fixed prices that
shield against market fluctuations, and renewable energy offerings,"
said John Bennett, senior vice president of sales for Constellation
NewEnergy. "Constellation NewEnergy is very pleased to be serving more
than 400 businesses in total through the Boston Buying Power program, and
delivering the benefits of competitive energy markets to a wider range of
Greater Boston customers."
Taylor Consulting, the
national utility management firm that serves as the Boston Buying Power
preferred broker, oversees the program's electricity procurement, holding
auctions every 45 days and aggregating individual businesses into purchasing
groups. Taylor also offers participants state-of-the-art energy management
platforms that give customers insight into energy usage and potential for
further benefits through efficiency improvements.
"Combining the
leverage gained through volume with the expertise from industry leading
energy consultants and service providers gives Boston's businesses of all
sizes the ability to make competitive energy markets work for them," said
Scott Stiner, chief operating officer of Taylor Consulting. "Boston
Buying Power demonstrates the City's commitment to a healthy and competitive
small business community and the level of participation so far indicates that
individual businesses are responding more than favorably to the
program."
After just nine
months, Boston Buying Power has already proved to be a tool for the business
community that provides long-range stability at a time of otherwise
uncertainty. Since Mayor Menino launched the program last November, more than
800 commercial and industrial companies, as well as non-profits from across
the City, have benefited from being enrolled in the program.
For more information
or to enroll in Boston Buying Power contact 888-317-3923/sales@utilitymodule.com
or visit www.bostonbuyingpower.com.
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
Media Contact:Aaron Koos
410-470-7433