Constellation Completes Acquisition of BostonGen Assets

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January 4, 2011

Constellation Energy has completed a $1.1 billion agreement to purchase the 2,950-megawatt Boston Generating fleet in New England.  

Included in the acquisition are four natural gas fired plants -- Mystic 8 and 9 (1,580 megawatts), Fore River (787 megawatts), and Mystic 7 (574 megawatts) -- as well as a fuel oil plant, Mystic Jet (9 megawatts)

"The addition of these well-managed, low-emissions plants greatly expands our generation portfolio and increases our capacity to sell electricity to retail and wholesale customers in competitive energy markets in New England and nationwide," said Mayo A. Shattuck, III, chairman, president and chief executive officer of Constellation Energy

Constellation Energy currently serves approximately 13.3 TWh of customer load in the NEPOOL market where Boston Generating is located.  Prior to this acquisition, Constellation Energy had no generation assets in the region.

The new assets expand Constellation's physical generation fleet with a portion of the total output further improving the net load-to-generation ratio to approximately 55 percent

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