Constellation Energy to Help PECO Customers Save Up to 12 Percent on Home Electric Bills This Summer

Constellation Energy (NYSE:CEG), one of the nation's leading competitive electricity suppliers to business and public sector customers, today announced it is offering residential energy customers in the Greater Philadelphia area up to 12 percent savings off PECO’s summer electricity rates.

"The Philadelphia area already has seen temperatures climb well into the 90s and summer doesn’t even officially begin until next week,” said Kenny Matula, senior vice president of Mass Markets for Constellation Energy. "For PECO customers worried about high electricity bills this summer, Constellation Energy is offering a low, fixed rate that could save them up to 12 percent while protecting them from price volatility.”

By choosing Constellation Energy now, homeowners and renters can lock in these new low rates* for 12 or 24 months and receive price protection from future PECO generation rate changes. These and other aspects of Constellation’s offer are outlined in a direct mail offer sent this week to more than 650,000 households in Greater Philadelphia.

"Constellation Energy has been serving thousands of commercial, industrial and governmental customers in Pennsylvania since the onset of electric competition in the state, and we are thrilled to offer residential service to those PECO customers living in Greater Philadelphia,” said Matula. "As a market leader nationwide, we're the logical choice for Pennsylvania residential electricity shoppers who are eager to save money by lowering their electricity rate.”

Homeowners and renters in the PECO service territory can secure low, no-hassle rates on their electricity service by spending just a few minutes online at home.constellation.com or calling 1-866-577-4700. The website also outlines residential savings offers to consumers in the PPL, Met-Ed, Penelec and West Penn service territories. Making the switch to Constellation Energy is easy:

• No sign-up or enrollment fee
• Offer includes a 90-day customer satisfaction period offering penalty-free termination
• There will be no interruption in a customer's electricity service

For customers who choose Constellation Energy, PECO will continue to issue an electric bill, deliver electricity over the same poles and wires and handle inquiries about service outages. By state law, customers are free to choose a competitive electric supplier and continue to receive the same reliable electric service.

Constellation Energy will support its direct mail offer to Pennsylvania homeowners and renters with a comprehensive advertising campaign to educate consumers about residential electric choice and its offer to Pennsylvania consumers.

The offer was announced two days after 24 major U.S. companies sent letters to the governors of six states, including Pennsylvania, urging the states’ leaders to continue supporting competitive electricity markets. The companies highlighted access to cost savings, innovation gains, increased customer choice, improved reliability and access to clean energy.

The Pennsylvania residential electric choice offer is being made by Constellation NewEnergy Inc., a wholly-owned subsidiary of Constellation Energy Group, Inc. In addition to Pennsylvania, Constellation Energy offers residential customer choice in Maryland, Illinois, Washington, D.C., and New Jersey.

The Pennsylvania PUC is the state agency that oversees the competitive retail electric market in the state. Through its regulations, the Pennsylvania PUC has granted Constellation NewEnergy Inc. a license to operate as an alternative retail electricity supplier in Pennsylvania. Additional information about customer choice and competition in the Pennsylvania retail electric market can be found on the Pennsylvania PUC’s informational website, www.papowerswitch.com. Additional information about customer choice can be found on PECO’s website, www.peco.com.

*Constellation Energy’s price does not include sales taxes or local distribution company fees or charges. Your savings will differ based on your monthly usage and rate class. Twelve percent estimated savings is based on PECO’s weighted Price to Compare (PTC) for Rate Schedule: R – Regular Residential Service for the July 1, 2011 – Sept. 30, 2011, period assuming usage of 1500 kWh per month for the 12-month plan. PECO’s PTC for Rate Schedule: R – Regular Residential Service for July 1, 2011 – Sept. 30, 2011, is $0.1042 per kWh for customers with monthly usage up to 500 kWh, and $0.1169 for monthly usage above 500 kWh, which includes an adjustment for Pennsylvania Gross Receipt Taxes. Estimated savings based on PECO’s weighted PTC for Rate Schedule: R – Regular Residential Service at usage of 500 kWh per month is 5 percent for the 12-month plan and at usage of 1000 kWh per month is 11 percent for the 12-month plan. PECO has not yet published its PTC after Sept. 30, 2011. For customers on PECO’s RH – Residential Heating Service or PECO’s OP – Off-Peak Service, rate savings will be lower or customers may not save at all. Customers that are currently net metered need to contact Constellation Energy prior to enrollment to ensure proper enrollment.

About Constellation Energy

Constellation Energy (www.constellation.com) 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 (BGE), its regulated utility in Central Maryland. A Fortune 500 company headquartered in Baltimore, Constellation Energy had revenues of $14.3 billion in 2010.