Constellation NewEnergy Signs Power Agreement with Chicago Cubs

BALTIMORE, Feb. 22 /PRNewswire-FirstCall/ -- Constellation Energy today announced that its subsidiary, Constellation NewEnergy, has entered into a fixed-price power supply agreement with the Chicago Cubs. Under the agreement, Constellation NewEnergy will provide approximately 2.9 megawatts of electricity to serve the needs of Wrigley Field, which includes all team executive and operational offices.

"As the second oldest ballpark in America, it is important that we find ways to best preserve and meet the needs of our organization and facilities," said Paul Rathje, director of stadium operations for the Chicago Cubs. "Constellation NewEnergy will help us manage our electrical costs and operational budget, which will in turn allow us to focus on the many day-to- day operational needs of Wrigley Park. Our ability to lock-in a fixed rate with Constellation NewEnergy provides peace of mind, knowing that we will be shielded from much of the current volatility of electricity prices in the market."

Wrigley Field welcomes more than three million guests a year. The stadium has been expanded over the last century to seat a maximum capacity of 41,118. By partnering with Constellation NewEnergy, the Chicago Cubs join a growing number of businesses in Illinois that have decided to switch to a competitive provider.

"We are thrilled to work with the Chicago Cubs and to be selected as the electricity supplier to Wrigley Field, which is considered a national treasure by many," said Julie Hextell, vice president and business leader for Constellation NewEnergy's Great Lakes region. "We are committed to working with the Cubs to ensure that they enjoy long-term price stability and budget certainty, which will enable them to better manage and understand their energy costs and usage patterns."

Constellation NewEnergy (http://www.newenergy.com/), a wholly owned subsidiary of Constellation Energy , is a leading competitive supplier of electricity, natural gas and energy-related services to commercial and industrial customers throughout North America. Constellation NewEnergy operates in all competitive energy markets throughout Canada and the United States, providing products that enable customers to effectively manage and control energy costs. Constellation NewEnergy's regional expertise, coupled with its national presence, provides customers with customized energy products and services while leveraging the assets of one of the strongest integrated energy companies in North America. Constellation NewEnergy, based in Baltimore, serves more than 14,000 commercial and industrial customers throughout 37 states and five Canadian provinces representing nearly 17,000 megawatts of peak load and more than 350 billion cubic feet of annual natural gas consumption.

Constellation Energy (http://www.constellation.com/), a FORTUNE 200 company with 2006 revenues of $19.2 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.