Constellation News & Events
News & Events
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Oct 31, 2011
Newark Housing Authority Signs Energy Performance Contract with Constellation Energy Guaranteeing $78 Million in Savings
Energy Conservation Upgrades to Create an Estimated 60 Local Jobs and Reduce Energy Costs for Housing Authority and Its more than 10,000 Residents BALTIMORE & NEWARK N.J.--(BUSINESS WIRE)-- Constellation Energy (NYSE: CEG) and the Newark Housing Authority (NHA) today announced the signing of an energy performance contract (EPC) for approximately $50 million in energy conservation measures at 39 housing developments. Under the terms of the EPC, the water and energy efficiency improvements provided by Constellation require no upfront capital from NHA and are guaranteed to provide more than $78 million in energy cost savings over a 15-year period. NHA will use the guaranteed cost savings to fund the installation of its energy conservation measures. The EPC with Constellation Energy's retail business is a first for NHA, and the third largest for a U.S. Department of Housing and Urban Development (HUD) public housing authority. "This EPC with Constellation Energy allows NHA to conduct another round of physical improvements at our properties while saving millions of dollars on energy costs," said Keith Kinard, executive director for Newark Housing Authority. "Additionally, these improvements will help to reduce NHA's carbon footprint and ensure a healthy and sustainable community for our more than 10,000 residents." By implementing these energy and water conservation measures, NHA expects to conserve an estimated 102 million gallons of water and avoid the creation of 16,596 metric tons of carbon dioxide annually. Conservation measures include: energy efficient lighting; boiler controls to reuse waste heat and balance heating system input with outside air temperature; low-flow toilets, shower heads and faucet aerators; cogeneration equipment to produce heat and power; and the decentralization of heating and hot water systems to improve efficiency and resident comfort. "NHA's actions are a positive step for our city in terms of the environment, the local economy and benefits to taxpayers," commented Newark Mayor Cory A. Booker. "I applaud NHA for its continued commitment to energy conservation and to building and maintaining affordable housing for the people of Newark." Constellation Energy will employ approximately 60 people in the Newark area during the design and construction of NHA's energy efficiency upgrades, and estimates that 200 individuals in total will be involved in providing materials and services for the scope of the project. In addition, Constellation Energy will employ two full-time associate site superintendents through HUD's Section 3 jobs program to assist in monitoring and maintaining energy conservation measures for the duration of the EPC. Energy efficiency work is scheduled for completion by fall 2013. "During a time when many agencies are looking for ways to do more with less, energy performance contracting is a valuable resource for public entities to leverage their existing operational budget for needed capital improvements," said Michael D. Smith, senior vice president of green initiatives for Constellation Energy's retail business. "Constellation Energy looks forward to working with the Newark Housing Authority to help maximize energy savings and improve resident comfort." In addition to energy and cost reductions under the EPC, Constellation Energy will support NHA's sustainability goals by providing energy and water conservation education programs to residents. An NAESCO-accredited Energy Services Provider, Constellation Energy has worked with more than 40 housing authorities throughout the U.S. to implement HUD's Energy Performance Contracting programs. Constellation Energy is also one of seven National Super Energy Savings Performance Contract 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. Customers interested in energy efficiency and environmental solutions may contact Constellation Energy at 1-800-4ENERGY or email cepsinfo@constellation.com. 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. About Newark Housing Authority The Newark Housing Authority (www.newarkha.org) is the largest public housing authority in New Jersey, charged with providing low-income residents in Newark with renovated, safe and affordable housing. The Authority owns and operates over 8,000 rental units consisting of townhomes, hi-rises and three-story walk-ups. Its mission is to invest in families by building and maintaining affordable housing to encourage economic independence and healthy communities. Constellation EnergyKelly Biemer, 410-470-7433orNewark Housing AuthorityLauren Hudock, 973-273-2217 Source: Constellation Energy News Provided by Acquire Media
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