October 14, 2008

Constellation Energy and Alabama Officials Celebrate Construction Renewal at Hillabee Power Plant

Constellation Energy (NYSE:CEG) recently joined with key representatives from Alexander City, Tallapoosa County, and the state of Alabama in a ceremony recognizing the restart of construction at the 774-megawatt Hillabee Power Plant in Alexander City.

Constellation Energy purchased the partially completed natural gas plant from Calpine Corporation in February 2008. Calpine had begun construction of Hillabee in 2001, but work has been halted since 2003. In September 2008, Constellation Energy received the final permit required to allow the company to resume construction. The Hillabee plant is now approximately 80 percent complete, and with the construction restart, is now expected to begin commercial operation by late 2009.

"We wanted to recognize the extraordinary efforts of a number of organizations and individuals from the city, the county and the state who have supported Constellation Energy in our commitment to complete this project," said John Long, president of Constellation Power Generation, a subsidiary of Constellation Energy. "We will complete this facility and operate it safely, with environmental integrity, and with a long-term commitment to being a good neighbor."

Attended by more than 100 guests, last week's ceremony included comments from Constellation Energy and Zachary Construction Corporation, the construction contractor for Hillabee, as well as a number of local and state officials, including Alexander City Mayor Barbara Young, Tallapoosa County Commissioner Charles Shaw and Alabama State Representative Betty Carol Graham. The event also included a ceremonial wrench-turning.

"We're extremely happy the Hillabee plant is back under construction and that it will be completed," added Charles Shaw, chairman of the Tallapoosa County Commission. "This is a great opportunity for the county, the school system, the state and for Constellation Energy. We welcome them here and look forward to many successful years as a partner and a member of our community."

When completed, the Hillabee facility will employ approximately 26 full-time workers.

Constellation Energy (http://www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 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 83 generating units located throughout the United States, totaling approximately 9,000 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.