Constellation Energy

Constellation Energy is a major energy company that provides electricity and natural gas services to residential, commercial, and industrial customers across 17 states and Washington D.C. Formerly known as Constellation Energy Group (CEG), the company was formed in 2022 after splitting from its parent company, Exelon Corporation. Constellation Energy Corporation is a publicly traded company listed on the Nasdaq stock exchange under the ticker symbol CEG.

Constellation Energy operates a diverse fleet of generating assets, including 21 gigawatts (GW) of nuclear power plants, which constitute the largest nuclear fleet in the US. The company's nuclear plants produce approximately 180 million megawatt-hours of carbon-free electricity annually. Additionally, Constellation Energy has 12 GW of natural gas, oil, hydroelectric, wind, and solar assets, providing baseload, intermediate, and peaking power.

Constellation Energy's product offerings include fixed-rate and variable-rate electricity plans, fixed-rate and variable-rate natural gas plans, and renewable energy plans sourced from wind, solar, and hydro sources. In select markets, the company also offers bundled dual fuel plans that combine electricity and natural gas services, as well as home services for air conditioning, heating, and plumbing.

The company has a strong focus on sustainability and aims to eliminate 100% of its greenhouse gas emissions by leveraging innovative technologies and enhancing its diverse mix of hydro, wind, solar, and nuclear resources. Constellation Energy is exploring opportunities to extend the licensed lives of its existing nuclear plants, implement uprates to increase output, and partner with others to develop new nuclear technologies at its existing sites.

Constellation Energy has a significant customer base, including distribution utilities, municipalities, cooperatives, commercial and industrial (C&I) customers, and residential customers across competitive markets. In 2021, the company supplied approximately 140 terawatt-hours (TWh) of electric power load through the retail market and 800 billion cubic feet of natural gas, primarily to C&I customers. Additionally, Constellation Energy supplied 65 TWh of power load through wholesale channels across competitive load procurements and bilateral sales to municipalities, cooperatives, banks, and other wholesale entities.

The company has recently signed notable deals with large customers like Comcast and another undisclosed customer, converting them from renewable-only products to plans that include nuclear energy to provide full-time, carbon-free power to meet their energy demands and sustainability goals.

Constellation Energy's customer-facing business also includes an energy solutions arm, one of the largest of its kind in the US, offering sustainability, efficiency, and technology solutions to support customers' sustainability needs and optimize energy consumption.