Norris, could you start by providing our audience with an overview of Constellation?
Constellation is the nation’s largest producer of carbon-free energy and provides sustainable solutions to homes, businesses, and public-sector customers across the continental United States. We serve 75% of the Fortune 100 companies, providing 10 percent of carbon-free power in the U.S. Constellation is a top 10 marketer of natural gas moving 1.6 TCF annually to serve both our power generation fleet and our nationwide gas customers. We’re also one of the largest off-takers and re-marketers of Renewable Natural Gas, touching ~15% of all active projects in the U.S. As a long-time industry leader, we are focused and committed to further accelerating the transition to more sustainable energy, which includes innovation in the natural gas sector.
For the 10th consecutive year, Constellation was the U.S.’s largest producer of clean, carbon-free energy. What have been the company’s three strategic pillars to achieve such an impressive milestone?
At Constellation, managing climate impacts and risks is an integral part of our business. We are proud of our established record as a leading provider of non-emitting energy and a strong advocate for climate adaptation and mitigation.
Pillar one is safety and operational excellence. Constellation’s largest generating portfolio is our carbon-free nuclear energy fleet, and our strongest pillar is running those plants safely and effectively to provide reliable electricity around-the-clock. Our commercial teams are motivated by the same challenge of operational excellence as we serve our power and gas customers across the U.S. We take pride in our ability to find solutions for even the most complex customer needs.
Since our separation from Exelon in 2022, our commitment to leading the transition to a clean energy economy has become another key pillar. We want to have an impact and drive economic progress by advocating for change and maintaining a can-do attitude that reaffirms that together, we can be a catalyst for positive change in our communities.
Our third pillar is acting with integrity. We are committed to doing what’s right. We honor our commitments. We act with integrity because respect for our colleagues, customers and communities compels us to be accountable for everything we do.
What have been the main challenges on that journey and what type of solutions have you been exploring to overcome them?
We’re in the midst of an energy transition. It doesn’t happen all of a sudden nor does it happen smoothly. We’ll have ups and downs as rules and regulations are established, revised and implemented. We believe engaging in open dialogue with our regulators has and will continue to benefit our customers and our communities as we all manage through the clean energy transition together. We are motivated by this challenge. To deliver new technology to the market and to continuously improve and relentlessly innovate.
What would you say are the key benefits of your proactive decarbonization strategy for the company, its shareholders and end clients?
Our strong investment in new technologies helps our clients and customers achieve their sustainable goals. We’re not afraid to explore possibilities and forge relationships in this space. Great examples are our long-standing investment in NetPower, a carbon capture technology, and the introduction last year of an hourly carbon-free energy matching product to help customers like Microsoft and ComEd power their operations with carbon-free energy produced at the same time and place it is consumed.
The availability of reliable and affordable energy is paramount in the effort to reduce carbon emissions. Our natural gas business continues to provide an affordable and reliable way to meet demand as the nation addresses the challenges of meeting net-zero emissions goals, including the important role of assisting in grid stability due to increased utilization of intermittent renewable energy resources. Low carbon intensity solutions also ensure continued energy affordability and reliability while reducing emissions related to natural gas use, bridging the gap as the country transitions the energy sector to meet rapid carbon emission reduction goals.
The Carbon Solutions Forum is just around the corner. What excites you the most about this event, and what key discussions are you most looking forward to?
I’m excited about the dialogue with other thought leaders in the natural gas industry. Our industry is being challenged to innovate, run our businesses with a lower GHG footprint, and create new, lower carbon products for our customers. If we don’t respond we’ll be left behind. The Carbon Solutions Forum is an event where I hope to learn from others and engage in the conversations that will keep our businesses relevant through the energy transition and beyond.
