12 October 2004 - Constellation Energy announced Monday that its subsidiary, Constellation NewEnergy, has finalized a two-year electricity purchase agreement with the City of Waco, Texas. The agreement will allow the city to reduce its budgeted electric energy costs by approximately $740 000 for fiscal year 2004 - 2005.
The City of Waco will spend roughly $9m for energy use over the next two years to service most of its municipal facilities. It currently operates approximately 700 metered locations.
"Due to the size of our energy use and the number of meters we use, it was imperative that we work with a company capable of conducting the switching process in a timely and seamless manner," said Danny Jackson, energy manager for the City of Waco.
Jackson added that Constellation NewEnergy's ability to summarize all of the city's energy use onto one bill was another major factor in the decision.
"When you operate as many meters as the city does, it's helpful to have all of its use consolidated onto one bill," said Jackson.
In addition to supplying energy to the city, Constellation NewEnergy provides electricity management services for the Midway Independent School District. The company also supplies energy to commercial and industrial customers in deregulated markets across the state.
"Today's competitive electricity marketplace can lead to significant savings for municipal energy users such as the City of Waco - and that's good news for taxpayers," said David Bat, vice president for the Texas region of Constellation NewEnergy. "We're pleased to serve the city and appreciate the trust it has placed in us to serve its electricity needs."