Constellation Energy announced that its subsidiary, Constellation NewEnergy, Inc., has entered into a green electricity purchase agreement with the New York Stock Exchange, a unit of NYSE Euronext (NYX), to supply renewable energy certificates (RECs) to match 100 percent of the approximately 28 million kilowatt-hours of electricity used annually by the NYSE. This agreement between Constellation NewEnergy and the New York Stock Exchange was facilitated by Co-eXprise, Inc, an energy consulting firm.
"The New York Stock Exchange is at the very heart of global financial markets, and this agreement enables us to power a critical part of our operations in a way that is environmentally sustainable," said Jeffrey Pellet, senior vice president and Global Head of Facilities and Corporate Services, NYSE Euronext. "We're very pleased to work with Constellation NewEnergy and Co-eXprise to participate in this valuable program."
The renewable energy certificates supplied by Constellation NewEnergy are Green-e Energy certified from wind energy facilities which are granted certificates for every megawatt hour of emission-free renewable electricity produced. The RECs purchased by the New York Stock Exchange over the two-year term of the agreement will result in more than 57 million pounds of avoided carbon dioxide emissions due to the displacement of grid electricity generation by renewable energy.
"By supporting renewable energy development and greening its operations, the New York Stock Exchange is setting an example that corporations can and should pursue sustainable business practices," said Michael Kagan, president of Constellation NewEnergy. "Purchasing renewable energy certificates is a way that businesses and institutions can very easily meet internal and external environmental mandates."
Constellation NewEnergy's NewMixSM Wind RECS are sourced from wind facilities located in the United States. Through the purchase of RECs, Constellation NewEnergy and its customers are investing in the operation and development of facilities that generate renewable energy.