About the ConEdison Solutions Retail Energy Acquisition
Is Constellation’s acquisition of the assets associated with the retail electricity and natural gas business of ConEdison Solutions now complete?
Yes. Constellation’s acquisition of the assets associated with the retail electricity and natural gas business of ConEdison Solutions is now complete. ConEdison Solutions’ retail electricity and natural gas customers will become Constellation customers.
What is the timeline for integrating the two organizations?
Now that Constellation has completed the acquisition of the assets associated with the retail electricity and natural gas business of ConEdison Solutions, we will continue to assess strengths and best practices of both Constellation and the retail electricity and natural gas business of ConEdison Solutions to inform potential process improvements and opportunities to streamline operations within the Retail organization. This process will take some time. We will start transitioning gas customers in the first 30 days after close, and power customers will be transitioning throughout 2017. The combined retail electricity and natural gas organizations will begin to operate under the Constellation brand in the near term; however, you may see both the ConEdison Solutions and Constellation legal entities operating independently in the marketplace until we fully integrate the businesses. Meanwhile, customers will continue to receive valuable, seamless service and a positive customer experience. We will keep customers and stakeholders updated on our integration progress.
What is the strategic and financial rationale for this acquisition?
ConEdison Solutions has longstanding customer relationships and a network of channel partners across 13 states plus the District of Columbia. ConEdison Solutions serves 559,000 mass market and 2,500 C&I retail electricity and natural gas supply customers, making its retail energy organization a perfect strategic fit for Constellation that creates opportunities to reach more customers and grow the business.
- Currently the 13th largest C&I and 16th largest residential electricity retailer in U.S., this acquisition will provide Constellation with the unique opportunity to grow the retail business and enhance our strategy of matching power generation with customer load. The gas business represents a significant increase in Constellation’s gas portfolio and is strongest in states Constellation has targeted for growth.
- This transaction allows us to leverage our scale to remain competitive in the current market environment and drive value through opportunistic, targeted growth.
- ConEdison Solutions’ retail business has strong customer relationships, which enhances renewal opportunities.
- The acquisition scales our business in a competitive environment.
What benefits might I see from the new company in the future?
Our customers will benefit from the combined organization’s ability to offer long-term contracts, competitive prices and Constellation’s broad array of energy products and services. Increased scale and financial strength is expected to bring more innovation and clean energy supply to more customers.
Will customers and coordinators of municipal aggregation programs be impacted?
Participants in municipal aggregation programs will be unaffected by the transaction. Those programs will continue to be served under the terms of their existing agreements.
About the Companies
Who is Constellation?
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Together with ConEdison Solutions retail electricity and natural gas business, Constellation now serves approximately 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider, with 2015 revenues of approximately $34.5 billion, and more than 32,700 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
Will you operate as Constellation or Exelon?
Constellation is the name used in the market, and will be responsible for selling and delivering electricity, natural gas and renewable energy supply, solar projects, and energy efficiency solutions.
Where is Constellation’s headquarters located?
Constellation’s headquarters will remain in Baltimore, Maryland. At this time, we will continue to operate the current ConEdison Solutions’ retail energy office in Valhalla New York.
How does Constellation feel about competitive energy markets?
Constellation is a strong supporter of competitive energy markets and advocates for sensible Federal and state energy policy that allows for more choice and innovation for retail and wholesale energy customers.
About My Bill, Contract, or Customer Service
Will I still be a customer? Will my rates, contract terms, or account information change?
Until the integration is complete, you will remain a customer of ConEdison Solutions. If you have received your invoice from and made payments to ConEdison Solutions in the past, you will continue to do so. If you have been billed by and made payments to your utility, that will not change.
However, you may begin to see changes and will likely see the Constellation name and logo on ConEdison Solutions material as we transition to the Constellation brand and platform. These changes will be well communicated in advance.
Who is going to be billing me?
Your billing will not change due to the acquisition. If you are a ConEdison Solutions customer, you will continue to be billed as you have been until you receive further notice. As our integration progresses, ConEdison Solutions customers who are direct billed will begin to receive branded invoices from Constellation.
Can I now change my rate or terms or cancel my ConEdison Solutions contract?
No. Current contracts are still legally binding. If you would like to discuss additional options, please contact your existing sales representative or Customer Care.
- Your current contract will not be affected in any way. Your contract terms remain exactly the same. You do not need to take any action.
- All of the same Terms of Service from your original contract with ConEdison Solutions still apply. You will still be charged an Early Termination Fee, if applicable, for cancelling a fixed rate plan by switching providers before your contract end date.
- If you are currently on a fixed rate, your rate will continue to be determined by the contract you signed with ConEdison Solutions. This transaction does not cause an increase in your rates.
- Variable rate plan customers will continue to have prices that may fluctuate from month to month.
Who do I contact if I have a question?
If you are a Commercial or Small Business customer, please continue to contact your Account Manager or ConEdison Solutions customer care.
If you are a Residential customer, please contact customer care.
Do I still go to the same website?
Yes, customers should still go to www.conedsolutions.com to access your account information. You will be notified when your information can be accessed at www.constellation.com.