Constellation Issues Statement on New EPA Guidelines

Rhea-AI Summary

Constellation responds to EPA guidelines for reducing carbon emissions from power plants

Positive

• Constellation supports the EPA's proposed guidelines for reducing carbon emissions from power plants
• Constellation is already investing in new technologies to achieve the proposed guidelines
• Constellation is testing hydrogen blending technology to reduce greenhouse gas emissions
• Constellation is producing clean hydrogen at its Nine Mile Point nuclear station
• Constellation is helping to develop Allam-cycle natural gas-fired generation technology that could capture nearly 100% of carbon dioxide emissions from new plants

Negative

• None.

BALTIMORE--(BUSINESS WIRE)-- Constellation (Nasdaq: CEG) issued the following statement in response to the Environmental Protection Agency’s (EPA) newly released guidelines for reducing carbon emissions from electric power plants:

“EPA’s proposed guidelines make technical and economic sense, and the power sector can achieve them by investing in new technologies that we are already demonstrating in our own operations with the support of the IRA,” said Joe Dominguez, president and CEO of Constellation, the nation’s largest producer of carbon-free energy. “As an example, Constellation's testing of hydrogen blending technology confirms that existing natural gas generation can blend hydrogen at significant levels to reduce greenhouse gas emissions. We are producing clean hydrogen at our Nine Mile Point nuclear station, showing that available output from both existing and new zero-emission resources can be used to meet the needs of natural gas power generation blending by the compliance deadlines. We also are helping to develop Allam-cycle natural gas-fired generation technology that could capture nearly 100% of carbon dioxide emissions from new plants. We commend the EPA for recognizing the important role that clean hydrogen and other technologies can play in eliminating emissions from the power sector and urge the administration to work quickly to finalize and implement strong standards.”

About Constellation

Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing around 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230511005921/en/

Paul Adams

Corporate Communications

410-470-4167

paul.adams@constellation.com

Source: Constellation

FAQ

What are Constellation's thoughts on the EPA's guidelines for reducing carbon emissions from power plants?

Constellation supports the EPA's proposed guidelines and believes they make technical and economic sense

What technologies is Constellation investing in to achieve the proposed guidelines?

Constellation is investing in new technologies, including hydrogen blending technology and Allam-cycle natural gas-fired generation technology

What is Constellation doing to reduce greenhouse gas emissions?

Constellation is testing hydrogen blending technology and producing clean hydrogen at its Nine Mile Point nuclear station

What is Allam-cycle natural gas-fired generation technology?

Allam-cycle natural gas-fired generation technology is a technology that could capture nearly 100% of carbon dioxide emissions from new plants