Texas Public Power Pool, or P3, has selected Constellation Energy, a subsidiary of Exelon Corporation, to supply its members with 2.7 million MW hours of low-cost electricity following a bidding process.
According to P3, the three-year agreement with Constellation, beginning in 2014, provides a commodity supply rate to their member that is 31% lower than the commodity component of their electricity costs under their current contract.
"We are committed to finding, through rigorous competitive bidding, the best contract term and rate for electricity supply," said Donald Lee, P3 executive director. "Constellation competed aggressively and won the business of our members."
"As a longtime electricity supplier in Texas, Constellation is proud to support P3's mission to its members," said Lou Hutchinson, vice president of public sector and energy efficiency sales for Constellation.
"P3 members can rely on Constellation's expertise to meet their procurement goals as well as to develop and implement strategies to better manage their overall energy use through energy efficiency measures. Constellation can also help them to earn additional revenue through participation in load response programs."