Hamilton realizes more than $1 million in energy savings
TORONTO, Nov. 6 /CNW/ -- 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 (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 (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.
For further information:
For further information: Media, Lawrence McDonnell of Constellation
Energy, (410) 470-7433; or Kelly Lorincz of Constellation NewEnergy, (416)
595-5556, Kelly.firstname.lastname@example.org; or Geoff Lupton of City of
Hamilton, (905) 546-2424, email@example.com Web Site: