Constellation Energy

Utility holding company serving central Maryland.

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Headquarters: 750 E. Pratt Street
Baltimore, MD 21202
Employees: 7,200
CEO: Mayo Shattuck
Stock Symbol: CEG


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Constellation Energy is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers.

Constellation is a major generator of electricity with a diversified fleet of generating units strategically located throughout the United States, totaling approximately 12,000 megawatts of generating capacity.

The company operates the Baltimore Gas and Electric utility, which provides electricity and natural gas in Central Maryland with 1.2 million electric customers and 640,000 natural gas customers. Baltimore Gas and Electric has served customers since 1816.

Headquarters of Constellation are in Baltimore with offices in North America, Europe, Asia and Australia.

The company reported 2010 revenues of $14.3 billion with net loss of $931.8 million.

"We ended 2010 having completed all of the strategic initiatives we announced at the start of the year, successfully putting our core businesses in a stronger position to operate more efficiently, strengthen existing customer relationships and win new business," said Mayo Shattuck, chairman, president and chief executive officer of Constellation Energy. "We completed our goal of deploying more than $1 billion of cash to acquire strategically located generation assets, including the 2,950-megawatt Boston Generating fleet in New England and the 550-megawatt Colorado Bend Energy Center near Wharton, Texas. Through acquisitions and organic growth, we significantly increased our generation capacity during the year, laying the foundation for continued growth in our wholesale and retail energy supply businesses in regions where our load obligations exceed our physical generating capacity.


The company's origin dates back to 1816 when artist and entrepreneur Rembrandt Peale burned gas to illuminate his Baltimore City salon. His so-called "ring beset with gems of light" became the seed that grew into the Baltimore Gas and Electric's (BGE) predecessor, the Gas Light Company of Baltimore.

On April 30, 1999, Constellation Energy Group, Inc., became the holding company for BGE and Constellation Enterprises, which included Constellation Energy Source, Inc., Constellation Investments, Inc., BGE Home Products & Services, Inc., Constellation Power Source, Inc., Constellation Power, Inc., and Constellation Senior Services, Inc.


Our total compensation philosophy is to pay employees competitively and vary rewards based on individual and company performance. Employees are financially rewarded for their work through base pay and variable pay. Base pay and salary increases ensure that our compensation is competitive, while variable pay provides incentives and bonuses that vary from year to year to provide rewards that are consistent with performance.
Benefits and Time Off
We offer competitive benefits to our employees on a partnership basis including health care choices, a retirement plan, insurance coverage choices, and flexible spending accounts. Our program is comprehensive, giving our employees and their families peace of mind that their needs can be met for their health, emotional, and financial well being. Employees receive company paid vacation time, holidays and sick time. And, because we realize that time away from work is important, employees begin accumulating vacation time during their first month at work.
Learning and Development
Professional advancement is important to everyone at Constellation. Employees who continuously update their skills are more satisfied with their work and contribute more to our collective success. As a Constellation employee, the opportunities for learning and development include:
- Training for professional development and skill enhancement
- External seminars and accreditation programs
- Tuition reimbursement for coursework or a degree
Work Environment and Balance
A positive work environment, opportunities to give back to the communities where we live and work and the ability to balance work and life demands are important to all of us. We offer programs to help our employees maintain this balance in their lives, including:
- Time off related to family or medical leave
- Child care referral network
- Employee assistance program
- Safety and medical services
- Support of volunteerism in our communities

Updated February 5, 2011