Constellation Energy

Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. 

The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.

On September 15, 2005, Constellation Energy announced a joint venture, UniStar Nuclear, with Areva to market the European Pressurized Reactor in the United States.  On December 19, 2005, FPL Group, Inc. announced the acquisition of Constellation Energy in a merger transaction valued at more than $11 billion as well as the fact that it would adopt Constellation Energy as its name for the post-merger entity. The merger was cancelled on 25 October 2006.

On July 1, 2008, Constellation Energy bought uranium trading firm Nufcor International from AngloGold Ashanti and FirstRand International. A year later it was sold to Goldman Sachs.

In September 2008, after reports that Constellation Energy had exposure to Lehman Brothers following that firm's bankruptcy filing, Constellation's stock price dropped 56% in a single day. The massive drop led the New York Stock Exchange to halt trading in Constellation. The next day, as the stock fell as low as $13 a share, the company announced it was hiring Morgan Stanley and UBS to advise it on "strategic alternatives" suggesting a buyout. While French power company Electricite de France, which already owned 9.5% of Constellation's shares, bid for the company, Constellation ultimately agreed to a buyout by MidAmerican Energy, part of Berkshire Hathaway. 

However, on December 17, 2008, the firm cancelled its merger with Berkshire Hathaway and opted to sell its nuclear energy assets to EDF.

In April 2010, Constellation Energy closed its agreement with Clipper Windpower to acquire the Criterion Wind Project in Garrett County, Maryland, and to purchase 28 Clipper Liberty 2.5-MW wind turbines for the project. Construction was completed in December 2010. 
 

In May 2010, the firm acquired two natural gas combined-cycle generation facilities in Texas from Houston-based Navasota Holdings. The $365 million transaction included the Colorado Bend Energy Center, a 550-MW facility near Wharton, Texas, and Quail Run Energy Center, a 550-MW facility near Odessa, Texas. The purchase added 1,100 MW of capacity.

On April 28, 2011, Exelon announced its intention to purchase Constellation Energy. The merger was completed on March 12, 2012. On May 27, 2011, Constellation Energy announced its intention to purchase StarTex Power, a retail electricity provider in Houston, Texas; the purchase was completed on June 1, 2011. In 2018, the StarTex brand was discontinued and its existing customers were instead served by Constellation. 

In May 2011, the company acquired MXenergy, a residential and small business energy provider with approximately half a million customers. In December 2011, it announced the acquisition of ONEOK Energy Marketing Co., a natural gas company with customers in the Midwest. In 2011, it contracted to construct and operate the Toys-R-Us distribution centre in Flanders, New Jersey, which was then the largest rooftop solar array ever constructed.

In March 2014, it entered into an agreement to acquire ETC ProLiance Energy, a supplier of natural gas to customers in several states. In November 2014, it completed its acquisition of Integrys Energy Services, a competitive retail electricity and natural gas subsidiary serving customers in 22 states. 

In September 2016, it completed its acquisition of the retail electricity and natural gas business from ConEdison Solutions, a subsidiary of Consolidated Edison, Inc. In the purchase, Constellation acquired ConEdison's retail electricity and natural gas customer contracts and associated supply contracts serving approximately 15 TWh of electricity and 1 billion cubic feet per annum of natural gas to more than 560,000 commercial, industrial, public sector and residential customers.

In August 2018, it began construction of a 10-megawatt solar array outside of Ocean City, Maryland. When completed, the array will provide the city with approximately 20% of its annual energy usage. 

In October 2018, Constellation and the Tucson Unified School District completed a project that added solar generation capability to 82 of the district's buildings and facilities. It is estimated that the project will meet 47% of the district's electricity needs. In 2022, it became an independent company after Exelon split its utilities and power generation businesses. Former subsidiary Baltimore Gas & Electric remained part of Exelon.

Constellation Energy mission is to maintain stellar customer service, competitive pricing, and working with and within the communities we serve to help those in need, therefore, is a critical part of our mission.

Constellation vision is committed to achieving 100 percent carbon-free electricity and a 100 percent reduction of operations-driven emissions by 2040