Natural gas plant expected to help meet peak energy demands in Central
Maryland
BALTIMORE, June 10 /PRNewswire-FirstCall/ -- Constellation Energy
(NYSE: CEG) today announced that the company's Gould Street Power Plant, a
102-megawatt, limited duty gas-fired steam power plant located in south
Baltimore, has been returned to service after being idle for five years.
The plant was returned to commercial operation specifically to meet
electricity needs during times of high demand as well as to help address
the ever-growing demand for energy in the Mid Atlantic region.
"Constellation Energy's decision to make the necessary investment to
bring Gould Street back into commercial operation is an important step
forward in addressing growing peak energy demand in the Mid Atlantic
region," said John Long, president of Constellation Power Generation, a
subsidiary of Constellation Energy. "As a cleaner generation source, this
natural gas facility is designed to help meet current and future energy
needs, while minimally affecting the environment. Investing $26 million in
this plant also is an affirmation of our commitment to invest when and
where the price signals are favorable for such investment."
Based on a new capacity market created last year by the PJM
Interconnection, which coordinates electric transmission in the
Mid-Atlantic region, Constellation Energy made the business decision to
make the necessary investment to return the Gould Street plant to service.
The new capacity market will help ensure sufficient generating capacity
will be available in the future to meet times of high energy demand, and
rewards electric generators for adding generating capacity that will be
available during these "peak" times.
The Gould Street plant will only operate during peak demand periods
such as hot summer and cold winter days. By permit design, the plant is
limited to operating a certain number of hours per year. The plant has
already been called on during the current heat wave to meet regional needs
for power.
With the addition of Gould Street, Constellation Energy now has
ownership interest in 30 power plants in six states.
Constellation Energy (http://www.constellation.com), a FORTUNE 125
company with 2007 revenues of $21 billion, is the nation's largest
competitive supplier of electricity to large commercial and industrial
customers and the nation's largest wholesale power seller. Constellation
Energy also manages fuels and energy services on behalf of energy intensive
industries and utilities. It owns a diversified fleet of 78 generating
units located throughout the United States, totaling approximately 8,700
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.
SOURCE Constellation Energy
 back to top
Related links:
http://www.constellation.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Kevin Thornton of Constellation Energy,
+1-410-470-2652, or Media Line: +1-410-470-7433
|
