Next cleanest peer company has nearly quadruple the rate of carbon dioxide emissions as Constellation
BALTIMORE--(BUSINESS WIRE)--Sep. 8, 2022--
Constellation (Nasdaq: CEG), the nation’s largest producer of carbon-free energy, has by far the lowest rate of carbon dioxide emissions among the 20 largest investor-owned power producers in the United States, according to an independent analysis based on publicly reported air emissions.
Released today, the latest 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 nearly four times the rate of carbon dioxide emissions as Constellation. Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10 percent of the nation’s carbon-free energy. Nearly 90 percent of the company’s annual energy output comes from carbon-free sources.
“While we have made tremendous progress in lowering emissions, the climate crisis remains an urgent threat and we must continue working toward a more sustainable, clean energy future,” said Joe Dominguez, president and CEO of Constellation. “We are committed to our goal to produce 100 percent of our electricity from carbon-free resources by 2040, while investing in new and emerging technology, increasing domestic energy security and supporting job growth and equitable economic development in the communities we serve.”
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. The report was based on 2021 data, prior to Constellation’s separation from its former parent company, Exelon, in February 2022. Constellation owns and operates all of Exelon’s former generation assets.
In February 2022, Constellation launched as a standalone company with a nation-leading pledge to deliver 95 percent carbon-free electricity by 2030 and 100 percent by 2040.
Constellation is pursuing multiple technologies to help the company and its customers lower emissions. The company received a U.S. Department of Energy (DOE) grant to test the benefits of using nuclear energy to produce hydrogen at its Nine Mile Nuclear Station on Oswego, N.Y. The company is installing a proton exchange membrane (PEM) electrolyzer that will separate the hydrogen and oxygen molecules in water, resulting in carbon-free hydrogen. Sustainable fuels and other products produced with hydrogen hold the key to decarbonizing industries and processes that defy easy climate solutions, such as long-haul shipping, agriculture, steelmaking and aviation, among others. Constellation is seeking to expand hydrogen production to other plants in its fleet as part of a broader DOE effort to develop the hydrogen economy and is exploring ways to reduce emissions at its fossil plants by blending clean hydrogen with natural gas.
The company received a separate DOE grant in April to explore the potential for direct air capture technology at the company’s Byron nuclear plant in Northern Illinois. While nuclear plants produce no carbon emissions, direct air capture technology removes carbon dioxide directly from the atmosphere, a possible next-generation technology to combat the climate crisis.
Among its other climate initiatives, Constellation has partnered with Microsoft on the development of a 24/7/365 carbon-free energy matching technology that will help customers achieve true zero emissions, as opposed to the current practice of annualizing renewable energy certificates and credits. The product will match a customer’s energy needs with local, carbon-free energy sources on an hour-by-hour basis.
You can 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 2022 Sustainability Report.
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 millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities have the generating capacity to power approximately 20 million homes and provide 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
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Source: Constellation Energy Corporation