Constellation Power Moves into the Top 10

After selling more than 27.4 million MWh in the second quarter --- an increase of 93% over second quarter 1999 --- Baltimore-based Constellation Power Source says it is on track to realize its vision of becoming a first-class national merchant energy company, standing in eighth place for wholesale electric power marketers based on sales volume. It was in 57th place just three years ago.

Year-to-date, the company, a member company of Constellation Energy Group formed in a strategic alliance with Goldman Sachs Power LLC, has sold more than 50.5 million MWh of electricity, a 69% increase from the same period last year. The rankings were based on filings of sales made to the Federal Energy Regulatory Commission.

Currently, the company controls more than 8,500 MW of generating capacity in the United States, and has a goal of controlling more than 20,000 MW by the end of 2003. It now owns and operates 4,600 MW of non-nuclear power plants in central Maryland and southern Pennsylvania, and has ownership in 28 smaller energy facilities across North America that produce more than 700 MW.

It has contractual agreements for more than 1,500 MW and exclusive marketing rights to another 1,700 MW from Calvert Cliffs Nuclear Power Plant in southern Maryland. Another 5,100 MW are set to come on line when new plants begin operations next year.

The other nine marketers making up the top 10 list at FERC, according to Constellation, are (in order) Enron Power & Affiliates, American Electric Power, Duke Energy & Affiliates, PG&E energy & Affiliates, Southern Co. Energy & Affiliates, Aquila Energy Marketing Corp., Reliant Energy & Affiliates, Dynegy Power Marketing & Affiliates and Edison Mission & Affiliates.

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