Business & Finance
Business and Finance
Business and Finance
Fri, May 27, 2011
Thu, May 26, 2011 Constellation Energy Awarded New GSA Contract for Electricity, Renewable Energy for 146 Federal and Institutional Accounts in W
BALTIMORE--([ BUSINESS WIRE ])--Constellation Energy (NYSE:CEG) has been awarded a new federal contract to continue to provide electricity and renewable energy supply to more than 146 federal and institutional accounts in Washington, D.C.
"Constellation Energy is pleased to support the federal governmenta™s leadership toward cleaner energy use as we supply power to some of our nationa™s most treasured landmarks and prominent corridors of public service"
Under terms of the three-year contract with the General Services Administration, Constellation Energy will supply 1.72 million megawatt hours of electricity per year to federal sites that include the U.S. Capitol, Kennedy Center, Smithsonian Institution, GSA and the Federal Reserve, as well as the Departments of Justice, Labor, Interior, Transportation and Treasury.
The contract, which renews the current two-year agreement, calls for Constellation Energy to provide 5 percent renewable energy in the first year and 7.5 percent in the remaining years through renewable energy certificates (RECs). Constellation Energy will supply more than 115,000 RECs annually; RECs represent the environmental benefits of electricity generated by wind, solar or other renewable power facilities.
aConstellation Energy is pleased to support the federal governmenta™s leadership toward cleaner energy use as we supply power to some of our nationa™s most treasured landmarks and prominent corridors of public service,a said James Connaughton, executive vice president of Corporate Affairs, Public and Environmental Policy.
Louis Hutchinson III, senior vice president of Public Sector Sales at Constellation Energy, added, aConstellation is honored by this vote of confidence from the GSA to renew our commitment to help the GSA and federal agencies control energy costs and achieve sustainability goals.a
Mark Ewing, director of GSAa™s Energy Division, said, aOur decision to renew this contract with Constellation Energy reflects the competitive pricing and technical expertise offered by Constellation. The competitively awarded three-year contract will lower utility budgets for GSA and its clients at a time of increased budgetary stress while meeting Federal renewable energy goals.a
The GSA contract comes two months after Constellation Energy signed an Energy Savings Agreement (ESA) with the U.S. Department of State that will contribute to President Obamaa™s executive order to reduce federal-wide greenhouse gas emissions. The State Department and part of the White House campus expect to reduce greenhouse gas emissions associated with domestic electricity consumption by approximately 30 percent to 35 percent by December 2012 and during the term of the ESA.
Constellation Energy is also a federally approved provider of demand response services for both military and civilian government agencies, enabling federal sites to earn money by shedding load during times of peak energy demand. Constellation Energy is also one of the National Super Energy Savings Performance Contract (ESPC) suppliers chosen by the U.S. Department of Energy to improve the efficiency of federal buildings through energy retrofit projects, energy saving performance contracts and deployment of renewable energy systems.
About Constellation Energy
Constellation Energy ([ www.constellation.com ]) is a leading competitive supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. It owns a diversified fleet of generating units, totaling approximately 12,000 megawatts of generating capacity, and is a leading advocate for clean, environmentally sustainable energy sources, such as solar power and nuclear energy. 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 $14.3 billion in 2010.
