BALTIMORE: Constellation’s Ambitious Energy Proposal for Maryland’s Future
Constellation (Nasdaq: CEG) has unveiled a comprehensive plan to revamp Maryland’s energy landscape with investments aimed at developing up to 5,800 megawatts of power generation and battery storage. This initiative aims to address the growing demand for electricity, reduce utility expenses, and promote the adoption of clean energy sources to fuel the state’s economic progress. Maryland leaders are presented with a variety of options to ensure sustainable and economically viable energy solutions that align with climate change objectives.
As part of Maryland’s expedited permitting program for large-scale energy projects, Constellation submitted proposals to the Maryland Public Service Commission (PSC) on October 31. These initiatives, focusing on battery storage and gas generation, promise to enhance the state’s power generation capacity by about 10% and address over 5% of Maryland’s peak load requirements with battery storage alone. The long-term vision includes potential collaborations with state leaders to explore new nuclear power plant developments in Maryland.
Joe Dominguez, president and CEO of Constellation, emphasized the company’s dedication to Maryland’s energy future: “Constellation already has invested over $1 billion of its own money on Maryland wind, hydro and 24/7 clean nuclear energy resources to power Maryland families and businesses for generations to come. Today, we announce an ambitious plan to make billions of dollars of new investments in Maryland without seeking any electricity rate increases, including options ranging from new natural gas to battery storage and nuclear energy.”
Maryland’s energy needs have driven Constellation to propose projects that range from rapid-response battery storage to the conversion of existing gas-fired units to hydrogen fuel, thereby reducing emissions. The company plans to install up to 800 megawatts of battery storage and deploy over 700 megawatts of natural gas-powered generators, which can be converted to hydrogen fuel in the future.
Additionally, Constellation’s long-term strategy involves expanding Maryland’s nuclear capacity. This includes extending the lifespan of the Calvert Cliffs Clean Energy Center, which could continue providing nearly 2,000 megawatts of clean power to over 1.3 million homes. The company also plans to enhance the plant’s output by 190 megawatts through technological advancements and consider constructing new advanced nuclear units at the site.
Should these projects come to fruition, Maryland’s share of clean energy could rise from just over 50% to about 70%, supporting the state’s climate targets. Constellation also aims to optimize existing resources by collaborating with large businesses to reduce energy consumption during peak periods. The creation of a 1,000 megawatt “virtual power plant” using AI and demand response programs is part of this initiative.
Constellation’s proposal requires clear legislative support and coordination with local utilities to ensure successful implementation. The company is committed to maintaining Maryland’s benefits as part of the PJM grid, where competition among power generators keeps costs stable. By embracing these reforms, Maryland can enhance its competitive energy market, fostering new investments and reducing ratepayer risks. For further details on Constellation’s collaborative policies with technology companies and energy suppliers, click here.
Original Story at www.constellationenergy.com