Constellation, a subsidiary of Exelon Corp., will supply the gas under a variable rate based on the New York Mercantile Exchange’s price for natural gas and a fixed charge of $0.1163 per one hundred cubic feet (Ccf). Residential customers also will pay a $0.65 administration fee per month, according to Constellation.
The contract is for two years. The program may be converted to fixed rate status by the city. The switch to Constellation will start next month.
In July, Exelon Generation – in conjunction with building firm Alstom and General Electric — began construction of a low-carbon, combined cycle gas turbine at Exelon’s Wolf Hollow Generating Station in Granbury, TX. It will provide 1,000 MW of power.