City of Cleveland Selects Constellation as Electricity Supplier

Two-year municipal aggregation agreement provides customers price protection, supports renewable energy resources

CLEVELAND--(BUSINESS WIRE)-- Constellation, a subsidiary of Exelon Corporation and a longtime competitive energy supplier in Ohio, today announced that it has been selected by the City of Cleveland, Ohio, to provide fixed-price electricity supply following a competitive bidding process under the state’s electricity choice, governmental aggregation program.

The electricity supply agreement will provide price protection and 24-hour customer service to more than 60,000 Cleveland-area residents and small businesses. The program also supports the development of renewable energy resources through a 50 percent renewable energy mix through renewable energy credits (RECs). Electric service under the new agreement is scheduled to begin with August 2015 meter reads and continue through July 2017.

“This agreement will deliver price protection to Cleveland customers, as they now can lock in a competitive rate for electricity supply for a two-year term,” said Bruce Stewart, senior vice president and chief marketing officer for Constellation. “As a national energy leader with deep roots in serving Ohio residential as well as commercial, industrial and governmental customers, we look forward to serving Cleveland residents and supporting the City’s sustainability goals.”

The standard program includes a 50 percent renewable energy component (RECs) at a rate of $0.0701 per kilowatt-hour. Customers may decline the 50 percent renewable energy option and decrease the price to $0.0694 per kilowatt-hour. Additionally, customers have the option to match 100 percent of their electricity supply with RECs at a rate of $0.0708 per kilowatt-hour.

Constellation will work with the City of Cleveland to notify all eligible customers of the new electric supply rate, terms and conditions, and their right to opt-out of the program. Residential and small commercial retail customers will have the right to opt-out of the aggregation program without penalty. Customers who do not opt out, but later choose to leave the program, can do so at any time within the two-year term without penalty.

To learn more Cleveland residents can contact Constellation toll-free at (855) 879-1253 or online at www.constellation.com/oh-cleveland.

*This offer sold by Constellation Energy Services, Inc., an independent electricity supplier licensed by the Public Utilities Commission of Ohio, license No. 00-013E(8). Constellation’s price does not include any taxes, utility distribution charges or other utility fees, charges or credits, and is subject to the terms of the agreements with the City and the participants.

About Constellation

Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves more than 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider, with 2014 revenues of approximately $27.4 billion, and more than 32,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150626005448/en/

Constellation
Kelly Biemer, 410-470-9700
[email protected]

Source: Constellation

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