Constellation Energy Group on Schedule to Complete Pennsylvania Power Plant for Summer Service

Apr 18, 2001, 01:00 ET from Constellation Energy Group, Inc.

    BALTIMORE, April 18 /PRNewswire/ -- Construction is on schedule for a
 natural gas-fired merchant power plant being built by a subsidiary of
 Constellation Energy Group (NYSE:   CEG) in Rockland Township, Pa.  The Handsome
 Lake plant is scheduled to begin commercial operation this July.
     The "peaking" plant, which will provide 250 megawatts of electricity to
 regional wholesale power markets during times of peak energy demand, is one of
 four such plants under construction in North America for Constellation Energy
 Group help provide power this summer.  The others are in Illinois, Virginia,
 and West Virginia.
     When they're completed, the four peaking plants will add 1,100 megawatts
 of electricity to Constellation Energy Group's domestic generation portfolio,
 and support the corporation's nationally ranked power marketing and trading
 business.
     "In addition," said Constellation Energy Group Co-President Charles
 Shivery, "our Handsome Lake plant will bring numerous benefits to
 Pennsylvania, from added tax revenues to clean, efficient energy sources in a
 region where additional electricity is needed."
     Graycor, a Chicago-based construction firm, is building the Handsome Lake
 plant on a 63-acre site in the Venango County Township.  Sargent & Lundy, also
 of Chicago, is providing engineering and procurement services.
     In addition to the four peaking plants due on-line this summer,
 Constellation Energy Group is building four other merchant power plants
 scheduled to begin commercial operations over the next two years.  Those
 plants are under construction in California, Florida, Illinois, and Texas.
     Constellation Energy Group (NYSE:   CEG) is a holding company with energy-
 related businesses focused mainly on power marketing, generation, and energy
 portfolio management.  It includes the nation's oldest utility, Baltimore Gas
 and Electric Company, which provides service to more than 1.1 million electric
 customers and nearly 600,000 natural gas customers in Central Maryland.
 Constellation Energy Group reported combined revenues of $3.9 billion and
 assets of $12.4 billion in 2000.
     Officials of Constellation Energy Group, www.constellationenergy.com,
 recently announced strategic plans to separate the company's wholesale
 merchant energy and retail energy businesses into two stand-alone, publicly
 traded corporations later this year.  CEG affiliates currently own more than
 6,000 megawatts of electric generation throughout North America.  Its
 electricity trading group, Constellation Power Source, ranks in the nation's
 Top 10.
 
 

SOURCE Constellation Energy Group, Inc.
    BALTIMORE, April 18 /PRNewswire/ -- Construction is on schedule for a
 natural gas-fired merchant power plant being built by a subsidiary of
 Constellation Energy Group (NYSE:   CEG) in Rockland Township, Pa.  The Handsome
 Lake plant is scheduled to begin commercial operation this July.
     The "peaking" plant, which will provide 250 megawatts of electricity to
 regional wholesale power markets during times of peak energy demand, is one of
 four such plants under construction in North America for Constellation Energy
 Group help provide power this summer.  The others are in Illinois, Virginia,
 and West Virginia.
     When they're completed, the four peaking plants will add 1,100 megawatts
 of electricity to Constellation Energy Group's domestic generation portfolio,
 and support the corporation's nationally ranked power marketing and trading
 business.
     "In addition," said Constellation Energy Group Co-President Charles
 Shivery, "our Handsome Lake plant will bring numerous benefits to
 Pennsylvania, from added tax revenues to clean, efficient energy sources in a
 region where additional electricity is needed."
     Graycor, a Chicago-based construction firm, is building the Handsome Lake
 plant on a 63-acre site in the Venango County Township.  Sargent & Lundy, also
 of Chicago, is providing engineering and procurement services.
     In addition to the four peaking plants due on-line this summer,
 Constellation Energy Group is building four other merchant power plants
 scheduled to begin commercial operations over the next two years.  Those
 plants are under construction in California, Florida, Illinois, and Texas.
     Constellation Energy Group (NYSE:   CEG) is a holding company with energy-
 related businesses focused mainly on power marketing, generation, and energy
 portfolio management.  It includes the nation's oldest utility, Baltimore Gas
 and Electric Company, which provides service to more than 1.1 million electric
 customers and nearly 600,000 natural gas customers in Central Maryland.
 Constellation Energy Group reported combined revenues of $3.9 billion and
 assets of $12.4 billion in 2000.
     Officials of Constellation Energy Group, www.constellationenergy.com,
 recently announced strategic plans to separate the company's wholesale
 merchant energy and retail energy businesses into two stand-alone, publicly
 traded corporations later this year.  CEG affiliates currently own more than
 6,000 megawatts of electric generation throughout North America.  Its
 electricity trading group, Constellation Power Source, ranks in the nation's
 Top 10.
 
 SOURCE  Constellation Energy Group, Inc.

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