Constellation's NewEnergy Segment Reports Higher Adjusted Earnings for Full Year

Constellation's NewEnergy segment reported adjusted earnings, excluding mark-to-market timing, of approximately $171 million for the year 2011, up from adjusted earnings, excluding mark-to-market timing, of $155 million a year ago.

The increase is primarily the result of a $76 million contribution from structured products and the sale of certain upstream assets.

Partially offsetting this positive variance was a $46 million loss resulting from this year's extreme weather in Texas.

For the fourth quarter of 2011, NewEnergy reported an adjusted loss of $76 million, versus the year-ago adjusted loss of $30 million.