Honeywell and Constellation Deliver Value
October 14, 2014
MINNEAPOLIS and BALTIMORE, Oct. 14, 2014 — Honeywell (NYSE:HON) and power provider Constellation today introduced an energy-saving service plan available to millions of homeowners and small businesses across 23 states. By enrolling in the plan to meet their gas and electricity needs, customers can lock in competitive prices and receive up to a $200 gift card from Constellation for buying any Honeywell Wi-Fi thermostat, including the new Lyric™ These modern, app-driven thermostats provide comfort, convenience and an opportunity to reduce energy consumption every day through easy programming and remote connectivity.
The plan builds on the companies’ regional efforts in Texas — and Honeywell’s decades-long experience linking energy suppliers and users — bringing the thermostat offer to residents and business owners in states where Constellation does business, which covers an estimated 30 million homes alone. If only 20 percent of eligible homeowners signed up and installed the technology, they trim their collective energy spend by approximately $768 million each year, a rate of $128 per household based on estimates from GreenOhm and Honeywell for the annual savings a programmable thermostat can deliver.
Customers can get the Wi-Fi devices at low or no cost with a gift card — $100 for home electricity service, $100 for gas service or $200 for both. The offer doubles for small businesses. Plus, a six-month or longer service agreement with Constellation, one of the leading energy suppliers, provides affordable, fixed rates and protection from price volatility.
“Competitive rates, stability and energy management provide an excellent value for consumers and businesses,” said Bruce Stewart, senior vice president and chief marketing officer for Constellation. “Honeywell and Constellation are offering great customer service and technology, and that means value without having to sacrifice quality or comfort.”
Constellation customers can choose from a variety of Honeywell Wi-Fi connected thermostats available online and in retail stores, as well as through local contractors. Retail products include the Honeywell Lyric Thermostat (MSRP: $279); the Wi-Fi Smart Thermostat (MSRP: $249); the Wi-Fi 7-Day Programmable Touchscreen Thermostat (MSRP: $149) and the Wi-Fi 7-Day Programmable Thermostat (MSRP: $119).
These devices can be set and managed from virtually any computer, tablet or smartphone using Total Connect Comfort, the top-rated thermostat app on iTunes® and Google Play™, or the Lyric app.
“Constellation’s customer service and competitive rates are an appealing combination, and our products just add to the experience,” said Jeremy Eaton, president, Honeywell Connected Home. “With a wide range of Wi-Fi thermostats, homeowners and businesses can find a product to meet their specific needs. And everyone can count on enhanced comfort, convenience and control.”
Honeywell will help manage promotional and recruitment efforts for the program. The company has worked with more than 100 utilities and providers, and 6 million of their customers to trim energy use and reduce stress on the electrical grid when consumption peaks. It also has controls in 150 million homes, 10 million facilities and thousands of industrial sites, and is helping link these buildings into smart grid programs.
For additional detail on the Constellation plan and to verify eligibility, customers can call 855-544-3827.
Information on Honeywell thermostats and other products for the home is available at honeywellhome.com and @Honeywell_Home. The company’s smart grid technology and services are featured on honeywellsmartgrid.com.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com.
This release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
Constellation is a leading competitive retail supplier of power, natural gas and clean energy solutions for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading competitive energy provider, with 2020 revenues of approximately $33 billion, and more than 30,000 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.
Aaron Parker, Honeywell