Hamilton realizes more than $1 million in energy savings
TORONTO, Nov. 6 /PRNewswire-FirstCall/ -- Constellation Energy (NYSE:
CEG) today announced that its subsidiary, Constellation NewEnergy, has
signed the City of Hamilton to a power supply contract that will shift more
than 90 percent of the city's street lighting electrical load from the
Regulated Price Plan (RPP) to the hourly market price. The move to
wholesale prices has already reduced the city's annual electricity budget
by more than $1 million and municipal authorities are now increasing their
exposure for even greater savings.
"We are excited about the new partnership with the City of Hamilton,"
said Kelly Lorincz, vice president, Constellation NewEnergy. "Given the
ongoing changes in the electricity industry, we continue to see
opportunities for municipalities to evaluate their current electricity
requirements and effectively make the market work for them."
"Switching the majority of our street lighting load from the RPP has
been a winning strategy for us," said Geoff Lupton, the City of Hamilton's
Manager of Energy Initiatives. "We've done much better on the market price
than we would have on the RPP as we would be paying the higher, second-tier
rate for most of our consumption. Best of all, this represents money in the
pocket for the City of Hamilton taxpayer."
Constellation NewEnergy (http://www.newenergy.com), a wholly owned subsidiary
of Constellation Energy (NYSE: CEG), is a leading competitive supplier of
electricity, natural gas and energy-related services to commercial,
industrial and institutional customers throughout North America.
Constellation NewEnergy operates in all competitive energy markets
throughout Canada and the United States, 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 19,000 commercial, industrial and institutional customers throughout
31 states and three Canadian provinces representing nearly 14,000 megawatts
of peak load and more than 354 billion cubic feet of annual natural gas
consumption.
Constellation Energy (http://www.constellation.com), a FORTUNE 125 company
with 2006 revenues of $19.3 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
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Related links:
http://www.constellation.com
http://www.newenergy.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Media, Lawrence McDonnell of Constellation
Energy, +1-410-470-7433; or Kelly Lorincz of Constellation
NewEnergy, +1-416-595-5556, Kelly.lorincz@constellation.com; or
Geoff Lupton of City of Hamilton, +1-905-546-2424,
glupton@hamilton.ca
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