Constellation Energy Group Inc. (CEG) said the Illinois Manufacturers Association (IMA) has chosen Constellation as its endorsed energy supplier. The IMA has signed a three-year agreement with Constellation, renewing and expanding its 10 year old relationship with the company.
Constellation Energy has provided IMA members with customized energy solutions and price certainty for almost a decade. The company’s new contract with IMA gives its member companies even more ways to protect their businesses from price risk in today’s volatile energy market. It also has the added benefit of extending energy price certainty to individual employees.
New services available to IMA members under this revived contract includes natural gas, residential electric choice with the potential to benefit 600,000 manufacturing workers, and load response service to help IMA companies offset rising operating costs during periods of peak energy demand.
Constellation Energy offers Illinois manufacturers a variety of services, including energy purchasing programs for commercial and industrial electric power and natural gas. Constellation works with customers to identify peak load periods so that they can optimize production during periods when energy is available at a lower price.
Constellation Energy is a recognized leader in the Illinois business and public sector energy market. It has a history of providing electric and natural gas service to employers, schools, hospitals and municipalities in the state for more than a decade.
Constellation Energy began providing residential electric service to Chicago-area residential customers of Commonwealth Edison, an Exelon Corp. (EXC) unit, in February. It also started serving Ameren Corp. (AEE) residential customers in July.
Headquartered in Baltimore, Constellation Energy 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, its regulated utility in Central Maryland.
Constellation Energy retains its Zacks #3 Rank (short-term Hold rating) for the near-term. This implies that the stock is expected to perform in line with the broader U.S. equity market over the next 1-3 months. We are Neutral on Constellation Energy for the long-term.
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