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March 15, 2011  

Constellation Energy Launches New Website

Constellation Energy has launched a new website which transforms the constellation.com domain from a corporate-focused site to a customers-facing and transactional site. Previously, customer-related features had been relegated to the NewEnergy website, or its residential subsite, with the main website focused on investor relations and power generation. The new constellation.com prominently features residential and business retail supply service, including online enrollments, and enhanced energy management tools.

FirstEnergy Corp. Enters Definitive Agreement to Sell Fremont Plant to AMP

FirstEnergy Corp. has entered into a definitive agreement to sell the Fremont Energy Center in Fremont, Ohio, to American Municipal Power, Inc. Under terms of the agreement, the natural gas combined cycle facility would be purchased by AMP for approximately $485 million, based on 685 megawatts of output. The transaction would close on or about July 1, 2011. The plant is currently under construction and scheduled to be complete in 2011. The plant includes two natural gas turbines and a steam turbine capable of producing 544 MW of load-following capacity and 163 MW of peaking capacity. The purchase price would be incrementally increased, not to exceed $16 million, to reflect additional output and transmission export capacity up to its nameplate capacity of 707 MW. In addition, AMP would reimburse FirstEnergy for construction costs incurred between February 1, 2011, and the closing date, if the transaction is completed. These costs would not exceed $25.3 million. FirstEnergy said that the sale of Fremont to AMP is consistent with FirstEnergy's current efforts to divest non-strategic assets and use the proceeds to provide the company with additional financial strength and flexibility.

FERC Accepts Intra-Hour Scheduling at NYISO Borders

FERC conditionally approved the New York ISO's tariff filing designed to permit more frequent intra-hour transaction scheduling at its borders, which will be phased in over time (ER11-2547). FERC directed NYISO to file revised tariff sheets, within 30 days, identifying the generator proxy bus or buses for which intra-hour scheduling and new pricing rules will apply and be made available. The revised tariff will allow transactions to be scheduled at 15-minute intervals at "variably scheduled" proxy generator buses, or on a five-minute basis at "dynamically scheduled" proxy generator buses. FERC also granted a limited delay in implementation, to no later than May 10, 2011, to allow further software implementation.

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