Constellation Energy Group
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| Subsidiary of Exelon | |
| Industry | Energy |
| Founded | 1999 |
| Headquarters | Baltimore, Maryland, U.S. |
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Key people
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Mayo A. Shattuck III (Former President and CEO) |
| Products | Electricity, Natural gas |
| Revenue | $13.76 billion (2011) |
| Website | www.constellation.com |
Constellation Energy Group (former ticker symbol CEG), headquartered in Baltimore, Maryland, was an energy producer, trader, and distributor. The company operated over 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California) under its operating and holding company Constellation Energy Group. Constellation Energy's regulated utility, Baltimore Gas and Electric Company (BGE), operated in central Maryland. BGE created Constellation as a holding company in 1999. Constellation Energy was a Fortune 500 company and was one of the top electricity producers in the United States.
In April 2011, Exelon of Chicago announced its intention to purchase Constellation Energy. The acquisition was approved by FERC and the companies officially combined on March 12, 2012 with Constellation Energy taking the Exelon name and the corporate headquarters moving to Exelon in Chicago, Illinois. Before its departure, Constellation Energy was the only remaining Fortune 500 company headquartered in Baltimore. The competitive and wholesale energy supply business of Constellation Energy would become a subsidiary of Exelon re-branded as "Constellation, an Exelon company." Baltimore Gas and Electric, formerly the regulated utility of Constellation Energy, would become a regulated utility operating under Exelon Utilities.
Constellation Energy, with 2007 revenues of $21 billion, was the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller.
Constellation NewEnergy, a wholly owned subsidiary of Constellation Energy, was a leading competitive supplier of electricity, natural gas, and energy-related services to commercial, industrial, and institutional customers throughout North America. Constellation NewEnergy served more than 19,000 customers throughout 31 states and three Canadian provinces, representing nearly 8,000 megawatts of peak load and more than 354 billion cubic feet (1.00×1010 m3) of annual natural gas consumption.
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