Constellation Energy

Constellation Energy is North America's number one supplier of energy to retail commercial and industrial customers and its largest wholesale power seller. We're an innovative and experienced nuclear fleet operator and own and operate power plants throughout the United States. Constellation Energy delivers electricity and natural gas in Central Maryland through our regulated utility, the Baltimore Gas and Electric Company (BGE). Number 167 on the Fortune 500 list, we have nearly two centuries of energy experience and one of the strongest, most stable balance sheets in the industry. Combined revenues in 2004 totaled $12.5 billion.

Constellation Energy businesses include . . .

Power Generation

Constellation Energy Generation Group (CGG) owns and operates a diversified fleet of power plants, all strategically located throughout the United States. CGG owns more than 100 generating units, capable of producing more than 12,000 megawatts of electricity. Its balanced portfolio includes nuclear, coal, natural gas, oil and renewable and alternative fuels.

Competitive Supply

Constellation Energy Commodities Group (CCG) is a global leader in energy risk management and North America's largest wholesale power seller. CCG optimizes the supply, logistics and transport of fuels and power for its customers, which include some of the world's largest producers and consumers of power, natural gas, oil and coal. CCG sells every available megawatt produced by Constellation Energy Generation Group.

Constellation NewEnergy (CNE) is North America's number one competitive supplier of electricity and a leading supplier of natural gas to commercial and industrial customers. CNE customers represent more than 15,000 megawatts of peak electric load and more than 300 billion cubic feet of annual natural gas consumption.

Fellon-McCord & Associates, Inc. is North America's leading provider of energy consulting and management services to large commercial and industrial customers. It manages more than $2.5 billion of natural gas supply and transportation and $2.5 billion of electricity needs on behalf of its customers, which represent every major sector of industry.

Energy Services

Constellation Energy Projects & Services Group (CEPS) provides customized energy solutions to government, institutional, and large commercial and industrial customers in North America. CEPS products and services, which include utility infrastructure outsourcing, mechanical and electrical upgrades, utility data mining, and performance contracting, are designed to increase energy efficiency and reliability, cost effectiveness, and savings.

BGE HOME provides energy-focused products and services that include heating, cooling and electrical systems, plumbing, home improvements, and appliance service to consumers in Maryland.

Mayo A. Shattuck III Chairman, President & CEO, Constellation Energy

Energy Delivery

BGE delivers electricity and natural gas safely and reliably to more than 1.1 million electric and 600,000 natural gas customers throughout Central Maryland.

Constellation Energy at a Glance

• North America's number one supplier of competitive energy

• Manages more than 31,000 megawatts of commercial and industrial customers' peak load

• Provides more than 300 billion cubic feet of natural gas

• Evolved from the first gas utility in North America, with a legacy of nearly 200 years of energy expertise

• Owns more than 100 generating units totaling approximately 12,500 megawatts of generating capacity

• Regulated electric assets include 250 substations, 22,500 miles of distribution lines, 1,300 miles of transmission lines

• Regulated natural gas assets include two peak-shaving plants, nine gate stations, and 6,000 miles of gas main

• 2004 Revenues: $12.5 billion

• Total Assets as of 12/31/04: $17.3 billion

• Employees: more than 9,700

• Headquartered in Baltimore, Maryland