{
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  "organisationId": "O-912993f1c29b42bd8b9d092ce4c331d5",
  "slug": "constellation-energy",
  "name": "Constellation Energy Corp",
  "updatedAt": "2026-03-19T01:52:33.2521Z",
  "sections": [
    {
      "type": "OVERVIEW",
      "text": "Constellation Energy Corp. is a U.S. energy company focused on producing and supplying electricity and related energy products through a large carbon-free generation fleet and a customer-facing energy supply business. The company states that it is the nation’s largest producer of reliable, emissions-free energy and a leading supplier to businesses, homes and public-sector customers, with a generation portfolio centered on nuclear power and supplemented by hydro, wind and solar assets. [P-8a0f225e2b974960a3242b5dc1ab19e8][P-a641eba580d64ff2bb6b2f07c2b05f3f]\n\nIts business spans wholesale power markets and retail/customer energy services, including sales of electricity, natural gas and environmental attributes, as well as tailored sustainability offerings for commercial and industrial customers. Geographically, Constellation organizes its generation and customer activities across the Mid-Atlantic, Midwest, New York, ERCOT and other U.S. power regions, and it says it does business in 48 states, the District of Columbia, Canada and the United Kingdom. [T-0ef036efbe3046a595edd15f8c9ae0e9][P-4e86a3db6b8146c8885ae0742e1ef0ae][P-c62d986f9f9d4305b8d38ee2b2ab30cc][T-8195ae922ba94e0582bedec0ee415591][P-ae168c46112b4646b3593658b9a27950]\n\nConstellation frames its purpose as “Light the Way to a Brilliant Tomorrow For All” and says it is helping accelerate the transition to a carbon-free future while building clean, reliable energy capacity. As of year-end 2024, it had approximately 14,264 employees and reported total operating revenue of $23.568 billion. [https://www.constellationenergy.com/about.html][P-8a0f225e2b974960a3242b5dc1ab19e8][P-ae168c46112b4646b3593658b9a27950][T-18f9b11921a24656a537a88d7ccbb23b]\n[P-8a0f225e2b974960a3242b5dc1ab19e8][P-a641eba580d64ff2bb6b2f07c2b05f3f][T-0ef036efbe3046a595edd15f8c9ae0e9][P-4e86a3db6b8146c8885ae0742e1ef0ae][P-c62d986f9f9d4305b8d38ee2b2ab30cc][T-8195ae922ba94e0582bedec0ee415591][P-ae168c46112b4646b3593658b9a27950][T-18f9b11921a24656a537a88d7ccbb23b][https://www.constellationenergy.com/about.html]",
      "updatedAt": "2026-03-19T01:52:33.2521Z"
    },
    {
      "type": "PRODUCTS",
      "text": "Constellation’s customer-facing product portfolio is grouped into three main offerings: Power Sales, Natural Gas Sales, and Other Products and Services. Power Sales include electricity sold to wholesale and retail customers, along with capacity, CMCs, zero-emission credits (ZECs), renewable energy credits (RECs), and ancillary services. Natural Gas Sales include wholesale and retail natural gas supply as well as sustainable natural gas attributes. Other Products and Services include other energy-related products and sustainable solutions, including the long-term construction and installation of energy-efficiency assets and new power-generating facilities, primarily for commercial and industrial customers. [T-0ef036efbe3046a595edd15f8c9ae0e9][P-03a8fe63d08a4285922ffcf0a5877d4d]\n\nWithin its sustainability-oriented offerings, Constellation identifies several named products. CORe+ is designed to meet commercial and industrial customers’ sustainability needs by matching contracted third-party new-build renewable generation with customer demand for additional carbon-free generation on the grid, preferably in the same region as the customer’s load. Its Hourly Carbon-Free Energy offering matches carbon-free generation with a customer’s electricity load on an hourly basis and includes tracking and retirement of hourly attributes in the relevant registry; the company states that its nuclear fleet can fill gaps when renewable generation is not producing. Constellation also offers RECs, EFECs, RINs, RNG, and carbon offsets as part of its carbon-free and sustainability product set. The company says its nuclear fleet is the largest in the U.S., with approximately 22 GW of generating capacity, which is a key capability underpinning these carbon-free products. [P-4e86a3db6b8146c8885ae0742e1ef0ae][P-4b98984c32e94f28aa0900bb1a3466de]\n\nConstellation also markets structured electricity and energy-management services. Its electricity supply products include Fixed or Secured Price contracts for customers seeking price stability, Index Plus Block structures that combine fixed and index-based pricing, and load-response or peak-load-management offerings for customers able to reduce usage during peak periods. In energy services, it offers Efficiency Made Easy for implementing energy-efficiency upgrades with no upfront cost, Energy Asset Management for optimizing behind-the-meter assets, and Constellation Navigator tools such as Carbon Accounting, Rebate Administration, and Utility Billing Software. The company does not separately disclose revenue by individual product line in the revenue note, but revenue from contracts with customers represented about 80.5% of 2024 operating revenues. [https://www.constellation.com/solutions/for-your-commercial-business/electricity-and-natural-gas/electricity/power-product-solutions.html][https://www.constellation.com/solutions/for-your-commercial-business/electricity-and-natural-gas/electricity/electricity-purchasing-strategies/peak-load-management.html][https://www.constellation.com/solutions/for-your-commercial-business/sustainability-strategies/energy-efficiency/energy-efficiency-made-easy-eme.html][https://www.constellation.com/solutions/for-your-commercial-business/sustainability-strategies/energy-efficiency/energy-solutions/energy-asset-management.html][https://navigator.constellation.com/carbon-accounting][https://navigator.constellation.com/rebate-administration][https://navigator.constellation.com/utility-billing-software][T-d4457211b8164b4a90c0cb936ff73284]\n[T-0ef036efbe3046a595edd15f8c9ae0e9][P-03a8fe63d08a4285922ffcf0a5877d4d][P-4e86a3db6b8146c8885ae0742e1ef0ae][P-4b98984c32e94f28aa0900bb1a3466de][T-d4457211b8164b4a90c0cb936ff73284][https://www.constellation.com/solutions/for-your-commercial-business/electricity-and-natural-gas/electricity/power-product-solutions.html][https://www.constellation.com/solutions/for-your-commercial-business/electricity-and-natural-gas/electricity/electricity-purchasing-strategies/peak-load-management.html][https://www.constellation.com/solutions/for-your-commercial-business/sustainability-strategies/energy-efficiency/energy-efficiency-made-easy-eme.html][https://www.constellation.com/solutions/for-your-commercial-business/sustainability-strategies/energy-efficiency/energy-solutions/energy-asset-management.html][https://navigator.constellation.com/carbon-accounting][https://navigator.constellation.com/rebate-administration][https://navigator.constellation.com/utility-billing-software]",
      "updatedAt": "2026-03-19T01:52:33.2521Z"
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      "type": "GEOGRAPHY",
      "text": "Constellation Energy has a broad U.S.-centered footprint, stating that it does business in 48 states, the District of Columbia, Canada, and the United Kingdom [P-ae168c46112b4646b3593658b9a27950]. It organizes its operations into five geographic segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions [P-c62d986f9f9d4305b8d38ee2b2ab30cc]. These regions are defined as eastern PJM for Mid-Atlantic; western PJM plus the U.S. footprint of MISO excluding MISO South for Midwest; NYISO for New York; Texas for ERCOT; and New England, the South, the West, and Canada for Other Power Regions [T-8195ae922ba94e0582bedec0ee415591].\n\nBased on 2024 revenue from contracts with customers, the Mid-Atlantic was the largest region at $5.429 billion, or 31.9% of regional customer revenue, followed by Other Power Regions at $4.749 billion, or 27.9%, the Midwest at $3.848 billion, or 22.6%, New York at $1.937 billion, or 11.4%, and ERCOT at $1.053 billion, or 6.2% [P-3f9e553e2b514466aedda6c45adbb941][T-d4457211b8164b4a90c0cb936ff73284]. Its owned generation fleet is also concentrated in the Midwest and Mid-Atlantic, which account for 37% and 33% of owned capacity respectively, with New York at 10%, ERCOT at 15%, and Other Power Regions at 5% [T-8195ae922ba94e0582bedec0ee415591]. Principal executive offices are in Baltimore, Maryland, and Constellation Energy Generation, LLC lists principal offices in Kennett Square, Pennsylvania [https://www.sec.gov/Archives/edgar/data/1868275/000186827525000023/ceg-20241231.htm].\n[P-ae168c46112b4646b3593658b9a27950][P-c62d986f9f9d4305b8d38ee2b2ab30cc][T-8195ae922ba94e0582bedec0ee415591][P-3f9e553e2b514466aedda6c45adbb941][T-d4457211b8164b4a90c0cb936ff73284][https://www.sec.gov/Archives/edgar/data/1868275/000186827525000023/ceg-20241231.htm]",
      "updatedAt": "2026-03-19T01:52:33.2521Z"
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    {
      "type": "SEGMENTS",
      "text": "Constellation Energy reports five geographic reportable segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. Their stated focus areas are the eastern half of PJM for Mid-Atlantic; the western half of PJM plus the U.S. footprint of MISO, excluding MISO’s Southern Region, for Midwest; NYISO for New York; the Electric Reliability Council of Texas for ERCOT; and New England, South, West, and Canada for Other Power Regions. The CEO is the chief operating decision maker and evaluates performance and allocates resources primarily using segment RNF, defined as operating revenues net of purchased power and fuel expenses. [P-c62d986f9f9d4305b8d38ee2b2ab30cc][T-8195ae922ba94e0582bedec0ee415591][P-15c1354fe0654e4199f529e07810843d][P-3737843799ba48d38a4436fee7830bac]\n\nUsing 2024 reportable segment operating revenues of $19.4 billion, the approximate segment mix was Mid-Atlantic 28%, Midwest 25%, New York 11%, ERCOT 8%, and Other Power Regions 28%. On the company’s primary segment performance measure, RNF of $10.1 billion, the mix was approximately Midwest 32%, Mid-Atlantic 31%, New York 14%, Other Power Regions 13%, and ERCOT 10%. Separate from the five reportable power regions, wholesale and retail natural gas sales and sales of other energy-related products and sustainable solutions are reported under “Other” and are not allocated to a region. [P-3f9e553e2b514466aedda6c45adbb941][T-d4457211b8164b4a90c0cb936ff73284][P-b0dfbce3e15347559d4be4aa8930e3f1]\n[P-c62d986f9f9d4305b8d38ee2b2ab30cc][T-8195ae922ba94e0582bedec0ee415591][P-15c1354fe0654e4199f529e07810843d][P-3737843799ba48d38a4436fee7830bac][P-3f9e553e2b514466aedda6c45adbb941][T-d4457211b8164b4a90c0cb936ff73284][P-b0dfbce3e15347559d4be4aa8930e3f1]",
      "updatedAt": "2026-03-19T01:52:33.2521Z"
    },
    {
      "type": "HISTORY",
      "text": "Constellation Energy traces its roots to September 25, 1995, when Constellation Energy was formed in Baltimore, Maryland. In April 1999, Constellation Energy Group became the holding company for Baltimore Gas and Electric and Constellation Enterprises, establishing the basic corporate structure that defined the company’s pre-Exelon era.[https://www.constellationenergy.com/about/business-overview/history.html][https://www.energyintel.com/0000017b-a7b5-de4c-a17b-e7f78ae20000]\n\nA major turning point came in April 2011, when Exelon and Constellation announced a merger; the transaction closed in March 2012, bringing Constellation under Exelon.[https://www.prnewswire.com/news-releases/exelon-and-constellation-energy-to-merge-120849324.html][https://www.sec.gov/Archives/edgar/data/9466/000119312512114696/d313311dex993.htm] The current Constellation Energy Corporation was later created as part of Exelon’s plan to separate its competitive generation and customer-facing energy businesses: Exelon authorized the separation in February 2021, and the spin-off was completed on February 1, 2022.[P-00ec60afe15643be9b3dc6d13878a3cf] Constellation then launched as a standalone publicly traded company in February 2022.[https://www.constellationenergy.com/newsroom/2022/constellation-launches-as-largest-u-s--clean-energy-company-afte.html]\n[P-00ec60afe15643be9b3dc6d13878a3cf][https://www.constellationenergy.com/about/business-overview/history.html][https://www.energyintel.com/0000017b-a7b5-de4c-a17b-e7f78ae20000][https://www.prnewswire.com/news-releases/exelon-and-constellation-energy-to-merge-120849324.html][https://www.sec.gov/Archives/edgar/data/9466/000119312512114696/d313311dex993.htm][https://www.constellationenergy.com/newsroom/2022/constellation-launches-as-largest-u-s--clean-energy-company-afte.html]",
      "updatedAt": "2026-03-19T01:52:33.2521Z"
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