Constellation Energy, parent of Baltimore Gas and Electric Co., Monday said it had reached an agreement with Toyota Motor Engineering & Manufacturing, North America Inc. to provide an array of integrated natural gas services and energy market analyses to Toyota facilities in the United States, Canada and Mexico.
The range of energy services to be offered by Constellation to Toyota will include natural gas supply; risk management; hedging and budget analysis; energy market monitoring; utility rate, invoice and pipeline transportation reporting; and monitoring of relevant regulatory and legislative issues. When asked how much natural gas would be supplied to Toyota under the agreement, a Constellation Energy spokeswoman said, "We don't share that information."
Effective last Friday Constellation Energy began offering risk management services to 14 Toyota facilities and gas supply to nine Toyota sites in North America. The Toyota locations include: U.S. manufacturing facilities in Alabama, Indiana, Kentucky, Missouri, Tennessee, West Virginia, Texas and Mississippi; the Toyota Technical Center in Ann Arbor, MI; Toyota Manufacturing Canada Inc. in Cambridge and Woodstock, both in Ontario; and Toyota Manufacturing in Baja California, Mexico.
"As the...energy supplier to two-thirds of the Fortune 100, we are thrilled to offer this level of integrated service to one of the leading brands of the automotive industry," said Mark Huston, managing director of retail energy for Constellation Energy. "Our umbrella of services gives customers such as Toyota a strategic advantage in managing costs, reducing price volatility and establishing a high level of energy price predictability."
Headquartered in Baltimore, Constellation Energy had revenues of $14.3 billion last year.
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