President of Constellation NewEnergy Named to The Greater Boston Chamber of Commerce Board of Directors

BALTIMORE, Dec. 7 /PRNewswire-FirstCall/ -- Constellation Energy today announced that Michael P. Kagan, president of its subsidiary, Constellation NewEnergy, has been appointed to The Greater Boston Chamber of Commerce board of directors. Kagan, who is based in Constellation NewEnergy's Boston office, was inducted on Thursday, Dec. 6.

"We are pleased to welcome Michael to our board of directors," said Paul Guzzi, president and CEO of the Chamber. "As president of Constellation NewEnergy, Michael is a prominent member of the Greater Boston business community. In addition, his expertise and understanding of the evolving energy market makes him a valued addition to our board."

As one of the region's leading competitive electricity suppliers to commercial and industrial customers, Constellation NewEnergy currently serves many of the Greater Boston area's top companies and organizations including the city of Boston, Boston University, Genzyme Corporation, Gillette Stadium and Staples, Inc.

"Constellation NewEnergy values its strong relationship with the Greater Boston business community," said Kagan. "Boston is at the center of many of the innovations shaping the current market, including energy efficiency, green power and other sustainability practices. It is an exciting time and I look forward to contributing my perspective to the Chamber as it continues to take a leadership role on these important energy issues."

Kagan was named president of Constellation NewEnergy in 2007. He leads the company's operations in the U.S. and Canada and is responsible for overall company performance, including business development and marketing. Prior to becoming president, he was the company's chief commercial officer responsible for major accounts and product development. Since joining NewEnergy in 1998, Kagan has been a part of the strategic leadership team, helping to oversee the expansion of the company's supply capabilities into new markets and the development of innovative risk management solutions for the company's largest customers.

Constellation NewEnergy (http://www.newenergy.com/), a wholly owned subsidiary of Constellation Energy , is a leading competitive supplier of electricity, natural gas and energy-related services to commercial, industrial and institutional customers throughout North America. Constellation NewEnergy operates in all competitive energy markets throughout Canada and the United States, providing products that enable customers to effectively manage and control energy costs. Constellation NewEnergy's regional expertise, coupled with its national presence, provides customers with customized energy products and services while leveraging the assets of one of the strongest integrated energy companies in North America. Constellation NewEnergy, based in Baltimore, serves more than 19,000 commercial, industrial and institutional customers throughout 31 states and three Canadian provinces representing nearly 16,000 megawatts of peak load and more than 400 billion cubic feet of annual natural gas consumption.

Constellation Energy (http://www.constellation.com/), a FORTUNE 125 company with 2006 revenues of $19.3 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.

The Greater Boston Chamber (http://www.bostonchamber.com/) is a broad-based association representing 1,700 businesses of all sizes from virtually every industry and profession in our region. At the crossroads of business and government, Chamber members work together to ensure the long-term advancement of Greater Boston as one of the world's great metropolitan regions.