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Constellation Energy Corporation () is an
energy company The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy indust ...
headquartered in
Baltimore, Maryland Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...
, United States. The company provides
electric power Electric power is the rate at which electrical energy is transferred by an electric circuit. The SI unit of power is the watt, one joule per second. Standard prefixes apply to watts as with other SI units: thousands, millions and billions o ...
,
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
, and
energy management Energy management includes planning and operation of energy production and energy consumption units as well as energy distribution and storage. Objectives are resource conservation, climate protection and cost savings, while the users have per ...
services. It has approximately two million customers across the continental United States. The company was known as Constellation Energy Group, (former NYSE ticker symbol CEG) a Fortune 500 company and one of the largest electricity producers in the United States, until a merger with Exelon in 2012. When the acquisition was approved by FERC, Constellation Energy's energy supply business was re-branded as Constellation, an Exelon company. As part of the 2012 merger,
Baltimore Gas and Electric Baltimore Gas and Electric Company (BGE) is a subsidiary of the Exelon Corporation and Maryland’s largest gas and electric utility. BGE earlier had created the holding company Constellation Energy in 1999. Constellation Energy was acquired by ...
, the regulated utility operated by Constellation Energy, became a regulated utility operating under Exelon Utilities. The current iteration of the company was founded in 2022 after splitting off from
Exelon Exelon Corporation is an American Fortune 100 energy company headquartered in Chicago, Illinois and incorporated in Pennsylvania. It generates revenues of approximately $33.5 billion and employs approximately 33,400 people. Exelon is the larges ...
. Before merging with Exelon, Constellation Energy Group operated more than 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California). Baltimore Gas and Electric created Constellation as a holding company in 1999.


History

On September 15, 2005, Constellation Energy announced a joint venture, UniStar Nuclear, with
Areva Areva S.A. is a French multinational group specializing in nuclear power headquartered in Courbevoie, France. Before its 2016 corporate restructuring, Areva was majority-owned by the French state through the French Alternative Energies and Atom ...
to market the
European Pressurized Reactor The EPR is a Generation III reactor, third generation pressurised water reactor design. It has been designed and developed mainly by Framatome (part of Areva between 2001 and 2017) and Électricité de France (EDF) in France, and Siemens in Germ ...
(EPR) in the United States. On December 19, 2005, FPL Group, Inc. announced the acquisition of Constellation Energy in a merger transaction valued at more than $11 billion as well as the fact that it would adopt Constellation Energy as its name for the post-merger entity. The merger was canceled on 25 October 2006. On July 1, 2008, Constellation Energy bought
uranium Uranium is a chemical element with the symbol U and atomic number 92. It is a silvery-grey metal in the actinide series of the periodic table. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons. Uranium is weak ...
trading firm Nufcor International from
AngloGold Ashanti AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation. It is now a global gold producer with 21 operations on four continents. The company is listed ...
and FirstRand International. A year later it was sold to
Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...
. In September 2008, after reports that Constellation Energy had exposure to
Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Gol ...
following that firm's bankruptcy filing, Constellation's stock price dropped 56% in a single day. The massive drop led the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...
to halt trading in Constellation. The next day, as the stock fell as low as $13 a share, the company announced it was hiring
Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
and
UBS UBS Group AG is a multinational Investment banking, investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres ...
to advise it on "strategic alternatives" suggesting a buyout. While French power company Electricite de France (EDF), which already owned 9.5% of Constellation's shares, bid for the company, Constellation ultimately agreed to a buyout by
MidAmerican Energy MidAmerican Energy Company is an energy company based in Des Moines, Iowa. Its service area includes almost two-thirds of Iowa, as well as portions of Illinois, South Dakota, and Nebraska. Its territory is wholly encompassed by the territory of ...
, part of
Berkshire Hathaway Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from ...
. However, on December 17, 2008, the firm canceled its merger with Berkshire Hathaway and opted to sell its nuclear energy assets to
EDF EDF may refer to: Organisations * Eclaireurs de France, a French Scouting association * Education for Development Foundation, a Thai charity * Électricité de France, a French energy company ** EDF Energy, their British subsidiary ** EDF Luminus, ...
. In April 2010, Constellation Energy closed its agreement with
Clipper Windpower Clipper Windpower is a wind turbine manufacturing company founded in 2001 by James G.P. Dehlsen.
to acquire the
Criterion Wind Project The Criterion Wind Project is a wind farm located on Backbone Mountain east of Oakland, Maryland, United States. The project has a rated capacity of 70 MW and uses 28 Liberty Wind Turbines manufactured by Clipper Windpower. Each of the wind turbin ...
in
Garrett County, Maryland Garrett County () is the westernmost county of the U.S. state of Maryland. As of the 2020 census, the population was 28,806, making it the third-least populous county in Maryland. Its county seat is Oakland. The county was named for John Work ...
, and to purchase 28 Clipper Liberty 2.5-MW
wind turbine A wind turbine is a device that converts the kinetic energy of wind into electrical energy. Hundreds of thousands of large turbines, in installations known as wind farms, now generate over 650 gigawatts of power, with 60 GW added each year. ...
s for the project. Construction was completed in December 2010. In May 2010, the firm acquired two natural gas combined-cycle generation facilities in Texas from Houston-based Navasota Holdings. The $365 million transaction included the Colorado Bend Energy Center, a 550-MW facility near Wharton, Texas, and Quail Run Energy Center, a 550-MW facility near Odessa, Texas. The purchase added 1,100 MW of capacity. On April 28, 2011,
Exelon Exelon Corporation is an American Fortune 100 energy company headquartered in Chicago, Illinois and incorporated in Pennsylvania. It generates revenues of approximately $33.5 billion and employs approximately 33,400 people. Exelon is the larges ...
announced its intention to purchase Constellation Energy. The merger was completed on March 12, 2012. On May 27, 2011, Constellation Energy announced its intention to purchase StarTex Power, a retail electricity provider in Houston, Texas; the purchase was completed on June 1, 2011. In 2018, the StarTex brand was discontinued and its existing customers were instead served by Constellation. In May 2011, the company acquired MXenergy, a residential and small business energy provider with approximately half a million customers. In December 2011, it announced the acquisition of ONEOK Energy Marketing Co., a natural gas company with customers in the Midwest. In 2011, it contracted to construct and operate for the Toys-R-Us distribution center in Flanders, New Jersey, what was then the largest rooftop solar array ever constructed. In March 2014, it entered into an agreement to acquire ETC ProLiance Energy, a supplier of natural gas to customers in several states. In November 2014, it completed its acquisition of Integrys Energy Services, a competitive retail electricity and natural gas subsidiary serving customers in 22 states. In September 2016, it completed its acquisition of the retail electricity and natural gas business from ConEdison Solutions, a subsidiary of
Consolidated Edison Consolidated Edison, Inc., commonly known as Con Edison (stylized as conEdison) or ConEd, is one of the largest investor-owned energy companies in the United States, with approximately $12 billion in annual revenues as of 2017, and over $62 b ...
, Inc. In the purchase, Constellation acquired ConEdison's retail electricity and natural gas customer contracts and associated supply contracts serving approximately 15 TWh of electricity and of natural gas to more than 560,000 commercial, industrial, public sector and residential customers. In August 2018, it began construction of a 10-megawatt solar array outside of
Ocean City, Maryland Ocean City, officially the Town of Ocean City, is an Atlantic Ocean, Atlantic resort town in Worcester County, Maryland, Worcester County, Maryland along the East Coast of the United States. The population was 6,844 at the 2020 United States cens ...
. When completed, the array will provide the city with approximately 20% of its annual energy usage. In October 2018, Constellation and the
Tucson Unified School District Tucson Unified School District (TUSD) is the largest school district of Tucson, Arizona, in terms of enrollment. Dr. Gabriel Trujillo is the superintendent, appointed on September 12, 2017 by the Governing Board. As of 2016, TUSD had more than ...
completed a project that added solar generation capability to 82 of the district's buildings and facilities. It is estimated that the project will meet 47% of the district's electricity needs. In 2022, it became an independent company after Exelon split its utilities and power generation businesses. Former subsidiary Baltimore Gas & Electric remained part of Exelon.


Operations


Electric power

Constellation provides electric power to commercial and industrial customers. Its electricity supply business manages the sales, dispatch, and delivery of energy from Exelon's power generation portfolio to utilities, municipal co-ops, and energy retailers nationwide. , Constellation had around 360 megawatts of solar generation assets that is either in operation or under construction across the United States, including Maryland, California, Arizona, New Jersey, and Texas. In 2011, Constellation was contracted to construct and operate what was then the largest rooftop solar array ever constructed for the Toys-R-Us distribution center in Flanders, NJ. Company's offsite renewables service (CORe) provides access to offsite renewable energy projects through a retail power contract. CORe combines location-specific renewable energy purchases and renewable energy certificates with a physical load-following energy supply contract.


Natural gas

Constellation delivers approximately of natural gas annually to customers, making it one of the ten largest natural gas marketers in the United States. The company oversees trading, transport and storage of physical gas supply, pricing, hedging and risk management.


Constellation Technology Ventures

Constellation Technology Ventures (CTV), Constellation's
venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
fund, invests in start-up companies with emerging energy technologies. Their portfolio includes Proterra,
ChargePoint ChargePoint (formerly Coulomb Technologies) is an American electric vehicle infrastructure company based in Campbell, California. ChargePoint operates the largest online network of independently owned EV charging stations operating in 14 countr ...
and
Aquion Energy Aquion Energy was a Bethlehem, Pennsylvania and Washington, D.C.-based company that manufactured sodium ion batteries ( salt water batteries) and electricity storage systems. The company claimed to provide a low-cost way to store large amounts o ...


Nuclear

Constellation is a leading nuclear power plant operator in the United States with over 19,000 megawatts. *
Braidwood Nuclear Generating Station Braidwood Generating Station is located in Will County in northeastern Illinois, U.S. The nuclear power plant serves Chicago and northern Illinois with electricity. The plant was originally built by Commonwealth Edison company, and subsequently ...
(Illinois) *
Byron Nuclear Generating Station The Byron Nuclear Generating Station is a nuclear power plant located in Ogle County, Illinois, east of the Rock River. The reactor buildings were constructed by Commonwealth Edison and house two Westinghouse Four-Loop pressurized water reac ...
(Illinois) *
Calvert Cliffs Nuclear Power Plant The Calvert Cliffs Nuclear Power Plant (CCNPP) is a nuclear power plant located on the western shore of the Chesapeake Bay near Lusby, Calvert County, Maryland in the Mid-Atlantic United States. It is the only nuclear power plant in the state o ...
(Maryland) *
Clinton Nuclear Generating Station The Clinton Power Station is a nuclear power plant located near Clinton, Illinois, USA. The power station began commercial operation on November 24, 1987 and has a nominal net electric output of 1062 MWe. Due to inflation and cost overr ...
(Illinois) *
Dresden Generating Station Dresden Generating Station (also known as Dresden Nuclear Power Plant or Dresden Nuclear Power Station) is the first privately financed nuclear power plant built in the United States. Dresden 1 was activated in 1960 and retired in 1978. Operati ...
(Illinois) *
Ginna Nuclear Generating Station The Robert Emmett Ginna Nuclear Power Plant, commonly known as Ginna ( ), is a nuclear power plant located on the southern shore of Lake Ontario, in the town of Ontario, Wayne County, New York, United States, approximately east of Rochester, N ...
(New York) *
James A. FitzPatrick Nuclear Power Plant The James A. FitzPatrick (JAF) Nuclear Power Plant is located in the Town of Scriba, near Oswego, New York, on the southeast shore of Lake Ontario. The nuclear power plant has one General Electric boiling water reactor. The site is also the lo ...
(New York) *
LaSalle County Nuclear Generating Station LaSalle County Nuclear Generating Station, located in Brookfield Township, LaSalle County, Illinois, near Marseilles, southeast of Ottawa, serves Chicago and Northern Illinois with electricity. The plant is owned and operated by Constellation ...
(Illinois) *
Limerick Nuclear Power Plant The Limerick Generating Station in Pennsylvania is located next to the Schuylkill River in Limerick Township, Montgomery County, northwest of Philadelphia. The facility has two General Electric boiling water reactor (BWR) units, cooled by na ...
(Pennsylvania) *
Nine Mile Point Nuclear Generating Station Nine Mile Point Nuclear Station is a nuclear power plant with two nuclear reactors located in the town of Scriba, approximately five miles northeast of Oswego, New York, on the shore of Lake Ontario. The site is also occupied by the James A. Fi ...
(New York) *
Peach Bottom Atomic Power Station Peach Bottom Atomic Power Station, a nuclear power plant, is located southeast of Harrisburg in Peach Bottom Township, York County, Pennsylvania, on the Susquehanna River three miles north of the Maryland border. The Philadelphia Electric Co ...
(Pennsylvania) *
Quad Cities Nuclear Generating Station Quad Cities Generating Station is a two-unit nuclear power plant located near Cordova, Illinois, United States, on the Mississippi River. The two General Electric boiling water reactors give the plant a total gross electric capacity of approximat ...
(Illinois) *
Salem Nuclear Power Plant The Salem Nuclear Power Plant is a two unit pressurized water reactor nuclear power plant located in Lower Alloways Creek Township, in Salem County, New Jersey, in the United States. It is owned by PSEG Nuclear LLC and Constellation Energy. L ...
(New Jersey) (minority owner) *
Three Mile Island Nuclear Generating Station Three Mile Island Nuclear Generating Station (commonly abbreviated as TMI) is a closed nuclear power plant on Three Mile Island in Londonderry Township, Dauphin County, Pennsylvania on Lake Frederic, a reservoir in the Susquehanna River just s ...
(Pennsylvania) (Unit 2 owned by
EnergySolutions EnergySolutions (stylized as Energy''Solutions''), headquartered in Salt Lake City, Utah, is one of the largest processors of low level waste (LLW) in America, making it also one of the world's largest nuclear waste processors. It was formed in 20 ...
)


Fossil

Constellation owns and operates a portfolio of fossil fuel and other sources generating more than 12,000 megawatts (MW) of power. *Chester Generating Station – Oil (Pennsylvania), which is distinct from the historic Chester Waterside Station *Colorado Bend II Energy Center – Natural gas (Texas) *Croydon Generating Station – Oil (Pennsylvania) *Delaware Generating Station – Oil (Pennsylvania) *Eddystone Generating Station – Natural gas and oil (Pennsylvania) *Everett LNG Facility – Natural gas imports (Massachusetts) *Falls Generating Station – Oil (Pennsylvania) *Framingham Generating Station – Oil (Massachusetts) *Grande Prairie Generating Station – Natural gas (Alberta, Canada) *Handley Generating Station – Natural gas (Texas) *Handsome Lake Generating Station – Natural gas (Pennsylvania) *Hillabee Generating Station – Natural gas (Alabama) *Moser Generating Station – Oil (Pennsylvania) *
Mystic Generating Station The Mystic Generating Station is a power station in the state of Massachusetts (on the border between Everett and Boston) which has the highest nameplate capacity of any station in the state. It is capable of burning both natural gas and petroleu ...
– Oil and natural gas (Massachusetts) *
Perryman Generating Station The Perryman Generating Station is a 353 MW electric generating peaking power plant owned by Constellation Energy, located in Baltimore, Maryland. Perryman has five units; four are oil-fired, and one is natural gas-fired.Exelon (2015)"Perryman Gen ...
– Oil and natural gas (Maryland) *Philadelphia Road Generating Station – Oil (Maryland) *Richmond Generating Station – Oil (Pennsylvania) *Schuylkill Generating Station – Oil (Pennsylvania) *Southwark Generating Station – Oil (Pennsylvania) *West Medway Generating Station I – Oil (Massachusetts) *West Medway Generating Station II – Natural gas or oil (Massachusetts) *Wolf Hollow II Generating Station – Natural gas (Texas) *Wyman Generating Station – Oil (Maine) (minority owner)


Hydro

Constellation's two hydroelectric plants generate 1,600 MW of power. *
Conowingo Dam The Conowingo Dam (also Conowingo Hydroelectric Plant, Conowingo Hydroelectric Station) is a large hydroelectric dam in the lower Susquehanna River near the town of Conowingo, Maryland. The medium-height, masonry gravity dam is one of the larges ...
(Maryland) *
Muddy Run Pumped Storage Facility Muddy Run Pumped Storage Facility was built by the Philadelphia Electric Company and is a pumped-storage hydroelectric generation facility in Drumore Township, Pennsylvania, United States. When completed in 1968, Muddy Run was the largest pumped ...
(Pennsylvania)


Solar

* Antelope Valley Solar Ranch One (California)


Wind

Constellation has 27 wind projects in ten states, totaling nearly 1,400 megawatts (MW).


Generation Services

Constellation Generation Solutions (CGS) is owned by Constellation. CGS functions as an industry-leading maintenance and technical services organization with an emphasis on precision and quality, structured to streamline work execution of the nuclear fleet. Constellation PowerLabs is a wholly owned subsidiary of Constellation. Since 1911, PowerLabs has transformed over the years from being a support to the power industry, to becoming the primary calibrations and testing laboratory for Exelon. It has four individual labs strategically located from the upper-Midwest to the Northeast, enabling experienced staff in engineering, metrology, and nuclear power generation to support the urgent demands of our nation’s nuclear facilities, power grids, and critical supply chains.


Baltimore Community Involvement


Historical Archives

Constellation owns the archives of the Baltimore Gas & Electric Company and the former Consolidated Gas Light, Electric Power Company of Baltimore City and its ancient predecessor, the Gas Light Company of Baltimore. The Baltimore Gas & Electric Company's photographic collection consists of approximately 250,000 photographic prints and negatives, in more than 50,000 series The archives are held by the
Baltimore Museum of Industry Baltimore Museum of Industry is a museum in Baltimore, Maryland, United States. Located in an old cannery, the museum has exhibits on various types of manufacturing and industry from the early 20th century. There are several hands-on sections with ...
.


Philanthropy

Constellation ranks second in local corporate giving among Baltimore-based companies and donated $7.10 million in 2017. The company also provides grants to local schools that implement education programs promoting science and technology.


See also

*
Calvert Cliffs Nuclear Generating Station The Calvert Cliffs Nuclear Power Plant (CCNPP) is a nuclear power plant located on the western shore of the Chesapeake Bay near Lusby, Calvert County, Maryland in the Mid-Atlantic United States. It is the only nuclear power plant in the state ...
, on the
Chesapeake Bay The Chesapeake Bay ( ) is the largest estuary in the United States. The Bay is located in the Mid-Atlantic (United States), Mid-Atlantic region and is primarily separated from the Atlantic Ocean by the Delmarva Peninsula (including the parts: the ...
,
Calvert County Calvert County is located in the U.S. state of Maryland. As of the 2020 census, the population was 92,783. Its county seat is Prince Frederick. The county's name is derived from the family name of the Barons of Baltimore, the proprietors of t ...
;
Lusby, Maryland Lusby is an unincorporated community and census-designated place (CDP) in Calvert County, Maryland, United States. The population of the CDP was 1,835 at the 2010 census. Residents of the Chesapeake Ranch Estates and Drum Point communities also ...
* Conemaugh Generating Station *
Ginna Nuclear Generating Station The Robert Emmett Ginna Nuclear Power Plant, commonly known as Ginna ( ), is a nuclear power plant located on the southern shore of Lake Ontario, in the town of Ontario, Wayne County, New York, United States, approximately east of Rochester, N ...
*
Keystone Generating Station The Keystone Generating Station is a 1.71-gigawatt (1,711 MW), coal power plant located on roughly in Plumcreek Township, southeastern Armstrong County, Pennsylvania near Crooked Creek, just west of Shelocta, Pennsylvania. The plant was built i ...
*
Nine Mile Point Nuclear Generating Station Nine Mile Point Nuclear Station is a nuclear power plant with two nuclear reactors located in the town of Scriba, approximately five miles northeast of Oswego, New York, on the shore of Lake Ontario. The site is also occupied by the James A. Fi ...
*
Safe Harbor Dam The Safe Harbor Dam (also Safe Harbor Hydroelectric Station) is a concrete gravity dam, with an associated hydroelectric power station, on the lower Susquehanna River. It is the most northerly and last of three Great Depression-era public works#Ov ...
, on the
Susquehanna River The Susquehanna River (; Lenape: Siskëwahane) is a major river located in the Mid-Atlantic region of the United States, overlapping between the lower Northeast and the Upland South. At long, it is the longest river on the East Coast of the ...
, Pennsylvania


References


External links

* {{Authority control, state=expanded Electric power companies of the United States Nuclear power companies of the United States Exelon Companies based in Baltimore Energy infrastructure in Maryland American companies established in 1999 Energy companies established in 1999 Non-renewable resource companies established in 1999 1999 establishments in Maryland 2012 mergers and acquisitions Corporate spin-offs