Constellation Energy Passes on Drop in Energy Prices to New Jersey Residents With Offer to Reduce Home Electricity Rates up to 15 Percent

Published on Monday, 06 February 2012 08:51 Written by TradersHuddle Staff

NEWARK, N.J. & BALTIMORE-( Business Wire )-

Constellation Energy (NYSE: CEG), a leading national competitive electricity supplier, today announced a new offer to New Jersey residents to reduce their home electricity rates up to 15 percent compared to current rates.

Constellation’s offer to residential customers in the Public Service Electric & Gas (PSEG), Jersey Central Power & Light (JCP&L) and Atlantic City Electric (ACE) service territories provides customers with an option of a 12 or 24-month pricing plan to choose Constellation as their electricity supplier.

“We’ve been helping New Jersey businesses navigate competitive energy markets for more than a decade and have looked for new opportunities the past 18 months to extend similar savings opportunities to New Jersey residential customers,” said Kenny Matula, Constellation’s senior vice president for residential markets. “We are pleased to leverage the recent drop in energy prices and our national energy expertise to offer New Jersey residents the opportunity to reduce electricity rates up to 15 percent compared to current rates.”

He noted that Constellation customers who refer a friend may be eligible to receive a $25 Constellation Visa® Prepaid Card. “Not only can our New Jersey customers save on their monthly electric bill compared to current rates, they can join thousands of other new Constellation customers who collectively have received $4.5 million in gift card rewards,” Matula said.

Constellation’s latest residential electricity offer to New Jersey residents will arrive in mailboxes this week; these residential pricing plans are limited-time offers available through March 9. There is no sign-up fee, and there will be no interruption in a customer’s electricity service. Constellation Energy offers a simple online sign-up process at home.constellation.com. Customers also may call 866-577-4700 to sign up by phone.

The New Jersey Board of Public Utilities (BPU), the state agency that regulates energy companies doing business in New Jersey, licenses energy suppliers such as Constellation Energy allowing them to compete with the state’s utilities. In the residential sector, the key change experienced by consumers who buy electricity through Constellation Energy is in the kWh rate for electric generation service listed on their monthly utility bill.

JCP&L’s, PSEG’s and ACE’s rates are subject to change and therefore we cannot guarantee savings over the full term of our price plans. Our price does not include any taxes, utility distribution charges or other utility fees, charges or credits. Savings are calculated against each utilities’ Price to Compare (PTC) for rate class RS (Residential Service) in effect Oct. 1, 2011 – May 31, 2012. JCP&L’s and PSEG's PTC excludes New Jersey’s 7 percent sales and use tax as well as BGS reconciliation charges, which may be a charge or a credit and is subject to change. ACE’s PTC includes the transmission, transmission enhancement charges and the current BGS reconciliation adjustment, but does not include New Jersey’s 7 percent sales and use tax. Your savings may be lower if you are not on rate class RS (Residential Service). The utilities’ residential rates after May 31, 2012 have not yet been set. Savings estimates are rounded. Please see home.constellation.com for additional information. New Jersey Supplier License #PESL-0016.

About Constellation Energy

Constellation Energy (www.constellation.com) is a leading competitive supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. It owns a diversified fleet of generating units, totaling approximately 12,000 megawatts of generating capacity, and is a leading advocate for clean, environmentally sustainable energy sources, such as solar power and nuclear energy. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $14.3 billion in 2010.

Constellation EnergyMedia Contact:Maureen Brown, 410-470-7433orInvestor Contact:Sandra Brummitt, 410-470-6440