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Constellation Energy Group Inc.
Constellation Energy Group Inc.
06/14/2012 | Press release
Marshall County And City Of Toluca, Illinois Choose Constellation To Supply Low-Cost Electricity, Green Energy To Residents
distributed by noodls on 06/14/2012 16:46
Local officials estimate residents can save $300 annually on electricity costs
CHICAGO (June 14, 2012) - Marshall County and Toluca, Ill. have chosen Constellation, a longtime competitive energy provider in Illinois with 1 million customers nationwide, to supply residents with low-cost hydroelectric energy following a competitive bidding process under the state's electricity choice aggregation program.
Constellation, a business unit of Exelon Corp. (NYSE: EXC), will supply 100 percent renewable energy to Marshall County and Toluca residents by purchasing renewable energy certificates (RECs) from hydropower generated in Illinois or adjacent states.
"Constellation is honored to offer residents in Marshall County and Toluca, Illinois both green energy and the fixed-price certainty and hassle-free low rates that we offer all customers," said Bruce Stewart, chief marketing officer for Constellation. "As a national energy leader with deep roots serving Illinois businesses, we look forward to continuing to invest in Illinois communities by offering a range of competitive market benefits to residents and small businesses."
The Marshall County Board voted unanimously on May 25 to purchase electricity from Constellation, an Alternative Retail Electric Supplier (ARES), and specified that 100 percent renewable energy be used. In a separate action on May 25, the Toluca City Council voted unanimously to purchase 100 percent renewable energy from Constellation.
County and city officials indicate the 24-month term at a rate of $0.04790 per kilowatt hour is approximately 32 percent lower than Commonwealth Edison's current BES residential (non-electric space heating) rate of $0.07034 kWh, representing estimated savings of $300 for a typical single family home using 9,000 kWh on an annual basis, and $600 during the entire term of the contract.*
Electric service under the newly negotiated rates is scheduled to begin as early as August 2012.
Constellation will work with county and city officials to notify all eligible customers of the electric supply rate, terms and conditions and their right to opt-out of the program. Residential and small commercial retail customers will have the right to opt-out of the aggregation program without penalty and remain with ComEd-purchased electricity.
*Estimated savings are based on Commonwealth Edison's Price to Compare (PTC) for BES residential (non-electric space heating) rate of 7.034 cents per kWh in effect June 1, 2012 - Sept. 30, 2012, which includes an Electricity Supply Charge of 6.214 cents and a Transmission Services Charge of 0.820 cents.
# # #Exelon Corporation (NYSE:EXC) is the nation's leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. The company's Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon's utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).www.exeloncorp.com.
Contact:
Maureen Brown
Constellation Communications
410-470-9700
maureen.brown@constellation.com
