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Overview | Merchant
Energy | Regulated Energy DeliveryMerchant Energy
Our merchant energy business has two main parts: Generation and
Marketing
Constellation Generation Group:
Owns and operates our fleet of power plants and generates the megawatts (MW) that we sell
into the wholesale market.
Key Facts
Constellation Generation Group owns and operates 9,200 MWs as of year-end 2001; by
year-end 2003, it will own and operate more than 12,000 MWs.
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Constellation Generation Group manages a diverse portfolio of plants that maintains
a balanced fuel mix and geographic and dispatch diversity.
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2001 Highlights
- Acquired Nine Mile Point Nuclear Station in November resulting in the ownership
of an additional 1,550 megawatts
- Brought on-line more than 1,100 megawatts of natural gas-fired peaking plants at
four sites (West Virginia, Virginia, Illinois, and Pennsylvania)
- Owned and operated 9,200 megawatts of generation, with an annualized capacity
output of 47,300 gigawatt-hours
- Had under construction four new plants in Florida, Illinois, Texas, and
California that combined will add nearly 2,900 megawatts by the end of 2003
Constellation Power Source:
Oversees our power marketing, origination, and risk management operations and is
responsible for selling every wholesale megawatt-hour Constellation Generation Group
produces and managing all the associated market-hedgeable risk.
Key Facts
- Serves wholesale customers, including distribution utilities, co-ops,
municipalities, and other large, load-serving companies that operate in deregulated energy
markets, providing capacity, energy, and related products and services
- Serves significant volumes of the wholesale peak load in the Northeast,
Mid-Atlantic, and Texas
- Enhances our generation assets by providing access to national markets, market
infrastructure, real-time market intelligence, risk management and arbitrage
opportunities, and transmission and transportation expertise
2001 Highlights
- Expanded its load-serving business in Texas by completing a strategic alliance
with TNP Enterprises, Inc., for managing the Texas power resource needs of its two
subsidiaries, Texas-New Mexico Power Company and First Choice Power
- Expanded its total load-serving business in the Northeast, Mid-Atlantic, and
Texas to an expected peak of more than 14,000 megawatts in 2002
- Signed long-term power sales contracts with California Department of Water
Resources and Florida’s Seminole Electric Cooperative and Florida Power & Light
to sell power from two of our plants under construction—the High Desert plant in
Southern California and the Oleander plant near Cocoa, Florida
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