Constellation Remains No. 1 Producer of Carbon-Free Energy, New Report Confirms

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Constellation (Nasdaq: CEG) Reports 10th Consecutive Year as Largest Producer of Clean Energy and Lowest Carbon Dioxide Emissions Among Top 20 Power Producers in the US

Positive

• Constellation maintains its position as the nation’s largest producer of clean, carbon-free energy for the 10th year in a row
• The company's carbon dioxide emissions rate is more than four-and-half times lower than its closest peer

Negative

• None.

Annual air emissions report also confirms Constellation’s rate of carbon dioxide emissions is more than four-and-half times lower than that of its next closest peer

BALTIMORE--(BUSINESS WIRE)-- For the 10^th consecutive year, Constellation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and boasts the lowest rate of carbon dioxide emissions among the 20 largest private, investor-owned power producers in the United States, according to an independent analysis based on publicly reported 2021 air emissions data.

With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy. (Photo: Business Wire)

Released today, the annual Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States report showed that the next cleanest company among the group of 20 had more than four-and-a-half times the rate of carbon dioxide emissions (lbCO2e/MWh) as Constellation. With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy. Nearly 90% of Constellation’s annual energy output comes from carbon-free sources and the company has set a goal to produce 95% carbon-free electricity by 2030 and 100% by 2040.

“After this year of record-shattering weather, it is clear that all industries must move faster to reduce emissions and lay the foundation for our clean energy future,” said Joe Dominguez, president and CEO of Constellation. “As we transition to a clean grid, we must ensure the lights stay on in every hour of every day, and nuclear energy is the only clean energy resource that can operate around the clock in all weather extremes. Backed by the unmatched reliability of our nuclear fleet, we are continuously seeking ways to increase our clean generation capacity, while helping customers achieve their own sustainability goals through innovations such as clean hydrogen and hourly carbon-free energy matching.”

The emissions report benchmarks key air pollutant emissions -- including nitrogen oxide, sulfur dioxide, carbon dioxide and mercury -- from the 100 largest U.S. power producers. It relies upon publicly reported generation and emissions data from the U.S. Energy Information Administration and the U.S. Environmental Protection Agency and has established a clear record of the sector’s environmental performance.

Per the report, zero-carbon resources were the leading source of power generation in the United States in 2022, providing approximately 41% of the nation’s electricity. Nuclear energy led the way, comprising 44% of that total and 18% of all U.S. generation.

Constellation is investing billions of dollars in projects to lower emissions across the company and for its customers:

• Last month, the MachH2 clean hydrogen hub, of which Constellation is a major participant, was selected for up to $1 billion in funding by the Department of Energy as part of the bipartisan Infrastructure Investment and Jobs Act. Constellation will use a portion of the hub funding to build the world’s largest nuclear-powered clean hydrogen production facility at its LaSalle Clean Energy Center in Illinois. The project will produce an estimated 33,450 tons of clean hydrogen each year with the goal of lowering emissions for difficult-to-decarbonize industries such as agriculture and transportation.
• This year, Constellation announced plans to invest $800 million in new equipment to increase the capacity of its Braidwood and Byron nuclear plants in Illinois. The company also launched a $350 million wind repowering effort to increase the output and lifespan of its renewable energy portfolio.
• Constellation also has introduced an hourly carbon-free energy matching product to help customers like Microsoft and ComEd power their operations with carbon-free energy produced at the same time and place it is consumed.
• Last month, Constellation acquired a 44% ownership stake in the South Texas Electric Generating Station (STP), a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. One of the newest and largest plants in the U.S., STP generates enough carbon-free power for two million average homes.
• In May, Constellation achieved an industry record for blending high concentrations of hydrogen with natural gas, further proof that hydrogen can be an effective tool to lower greenhouse gas emissions. The test at Constellation’s Hillabee Generating Station showed that with only minor modifications, a 13-year-old existing natural gas plant can safely operate on a blend of 38% hydrogen, nearly doubling the previous blending record for similar generators.

Learn more about Constellation’s efforts to accelerate the transition to a carbon-free future, mitigate the climate crisis and support energy equity and environmental justice in our 2023 Sustainability Report.

About Constellation

A Fortune 200 company 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 16 million homes, providing about 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/20231115839181/en/

Dave Snyder

Constellation Communications

667-218-7700

david.snyder@constellation.com

Source: Constellation Energy Corporation

FAQ

What is Constellation's stock ticker symbol?

Constellation's stock ticker symbol is Nasdaq: CEG

How does Constellation compare to other power producers in terms of carbon dioxide emissions?

Constellation has the lowest rate of carbon dioxide emissions among the 20 largest private, investor-owned power producers in the United States, with its emissions being more than four-and-half times lower than its closest peer

Where can I find the full air emissions report?

The full air emissions report can be viewed at the following link: https://www.businesswire.com/news/home/20231115839181/en/