On November 14th, Constellation hosted its 2024 Executive Energy Forum (EEF), where Constellation and industry thought leaders discussed the evolving energy landscape,...

The post Executive Energy Forum 2024 – Responding to the New Era of Load Growth appeared first on Constellation's Energy4Business Blog.

On November 14th, Constellation hosted its 2024 Executive Energy Forum (EEF), where Constellation and industry thought leaders discussed the evolving energy landscape, strategies for managing record load growth, customer energy consumption strategies and the impact of the 2024 election on the energy industry.

Rising to Challenges in the Energy Sector

Greg Kosier, Director of the Commodities Management Group at Constellation, moderated a discussion with industry leaders on how markets, grid planners and operators are adjusting to significant changes in the energy industry over the past 15 years and in the future. Panelists included Gene Alessandrini, Senior Vice President of Energy at CyrusOne; Robert Joyce, former NSA Cybersecurity Director; and Bill Berg, Vice President of Federal Regulatory Affairs at Constellation. The discussion focused on the major transformations that the energy industry has seen over the past few years, such as the shale revolution, the growth of renewable energy and the rise of LNG development. Factors influencing the future of the industry were also covered, including the rapid growth of data centers, the AI boom, EV demand and reliability and affordability concerns.

The panel highlighted the specific challenges the electric grid faces in meeting this new demand, particularly the need for more dispatchable resources and managing peak demand. They emphasized the importance of flexibility in energy management and the role of AI in energy forecasting and optimization. Additionally, constraints to building new generation resources were addressed, including an electric grid in need of upgrades, slow approvals for new clean electricity projects and finding suitable locations for additional clean energy infrastructure. The importance of data centers in the U.S. from a national security standpoint including overseas data centers and the role of AI for future economic and military advantages was also highlighted.

Powering the Future: Customer-Focused Energy Solutions

Looking at a customer focus, Shoun Sinha, Managing Director at Venture and R&D at Constellation, moderated a panel featuring Samuel Bordenave, CFO at SWITCH; Sean McEvoy, head of Sales & Chief Product Officer at Grid Beyond; Levi Love, Energy Procurement & Analytics at Sheetz; and Abhinav Krishna, VP of Commercialization & Development at Constellation. The discussion was focused on the evolving energy landscape for energy managers, innovative solutions and consumer adaptation strategies that businesses can leverage to meet their energy goals. The panel shared insights on the biggest opportunities for energy consumers, technological advancements and sustainability strategies.

The importance of flexibility in adaptive energy management strategies was emphasized, highlighting how it allows businesses to better respond to dynamic changes in electricity prices and grid conditions. Flexibility in energy management can help reduce total energy consumption, improve energy quality and enhance peak load management capabilities. Additionally, customer panelists offered their experiences with understanding their energy usage and managing their costs effectively.

2024 Election Analysis and Policy Outlooks

The program was concluded with a location-relevant discussion on the 2024 election. This panel featured Amy Harder, Executive Editor at Cipher News; Ron Brownstein, Senior Editor at The Atlantic and Senior Political Analyst at CNN; and was moderated by Bill Loveless, Co-host of the Columbia Energy Exchange podcast and Director of the Columbia Energy Journalism Initiative. The panelists discussed the second Trump administration’s likely impact on energy and climate issues. Focus was primarily held on the energy transition, especially in red states which have been resistant to clean energy initiatives.

Panelists also touched on the potential for increased oil and natural gas drilling, the impact of Elon Musk on the energy landscape and the overall uncertainties facing the industry. They emphasized that these challenges, coupled with the transformative role of AI in energy forecasting and optimization, have the potential to significantly enhance how energy demand and supply are managed.

Constellation’s Commitment to Your Energy Goals

Constellation can help you create and implement a procurement plan to achieve your emissions-free objectives, connecting you with the solutions, strategic relationships and technology you need. To help you develop a plan tailored specifically to your company, we provide you with the expertise and resources you need for success.

Watch our full Executive Energy Forum recording on demand for access to further insights on the future of energy.

View Full Recording

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions at the ‘Executive Energy Forum’ event by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the event or for any omission or error of fact.

The post Executive Energy Forum 2024 – Responding to the New Era of Load Growth appeared first on Constellation's Energy4Business Blog.

As the energy sector evolves in this technology-driven world, businesses are under increasing pressure to reduce their carbon footprint and...

The post Plugged In Podcast: Exploring Clean Energy Products for Scope 2 Needs appeared first on Constellation's Energy4Business Blog.

As the energy sector evolves in this technology-driven world, businesses are under increasing pressure to reduce their carbon footprint and meet sustainability goals. One of the key challenges they face is how to effectively purchase carbon-free energy products to address their Scope 2 emissions. Once commercial and industrial energy buyers understand the energy mix in their specific market, investing in the right solutions can help them make informed decisions to support their sustainability goals.

The Importance of Carbon-Free Energy Commitments

Many companies have committed to being 100% covered by carbon-free energy by a specific date, such as 2030. This means that for every electron they use, they will procure one new electron of carbon-free electricity to cover it. To achieve these commitments, the first step is considering the dynamics of different energy markets.

Understanding Energy Markets

Every energy market is unique, with different sources of electricity, market rules, geographies, and climate and weather patterns. Recognizing these differences is crucial for companies looking to make informed decisions when purchasing carbon-free energy products that align with their sustainability goals.

The chart below shows the estimated annual grid mix by ISO region and can help businesses identify the energy landscape in different markets. This mix can vary over time based on factors such as demand, weather conditions and changes in energy production. For instance, ERCOT relies heavily on natural gas and wind, while PJM has a significant portion of its electricity generated from natural gas and nuclear power. MISO, on the other hand, has a more balanced mix with substantial contributions from natural gas, coal, wind and nuclear. The grid mix data can be used to help define your goals around carbon-free strategies, allowing each customer to determine what’s best for its needs.

Carbon-Free and Renewable Energy Solutions

As businesses strive to reduce their Scope 2 emissions, implementing the right mix of carbon-free and renewable energy solutions can significantly advance sustainability goals. Customers can choose from any combination of these key solutions:

1. EFECs and RECs: RECs represent the emission-free attributes of one megawatt hour (MWh) of electricity generated by a renewable energy resource, such as wind or solar. Investing in RECs or EFECs allows businesses to quickly indicate their commitment to sustainable practices.
2. Offsite Renewables: Constellation Offsite Renewables (CORe) enables customers to integrate local offsite renewable energy purchases with a retail power supply contract. This includes integrating renewable energy purchases from existing renewable generation, including solar and wind facilities, into a load-following energy supply agreement or supporting the development of new renewable energy assets on their regional grid.
3. Hourly Carbon-Free Energy Matching: Hourly carbon-free energy matching is an innovative solution that pairs electricity use with a local emission-free energy source on an hourly basis. This method goes beyond other net-zero programs by providing a more precise and impactful way to achieve sustainability goals. By using hour-by-hour regional tracking, businesses can ensure that their energy use is matched with clean energy sources in real-time.

Learn More with Our Podcast

To gain more insights into the energy sector, listen to our podcast, Plugged In: Exploring Energy, hosted by Chuck Hanna, Vice President of Solutions and National Accounts at Constellation. In the second episode, we expand on the topics covered here and discuss additional subjects with Adrian Anderson, General Manager of Carbon-Free Electricity, Renewable Energy & Carbon Dioxide Removal at Microsoft. We dive into the importance of data in energy management and sustainability, investments in carbon reduction and innovation, the challenges and strategies around Scope 3 emissions, and the collaboration with utilities to support a sustainable future. Tune in to our series for valuable insights and stay updated on the future of energy.

By addressing these challenges and offering custom solutions, Constellation is leading the way in the transition to a sustainable and reliable energy future. Join us on this journey and discover how we can help you achieve your energy goals.

Listen to the Podcast

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the blog and podcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Plugged In Podcast: Exploring Clean Energy Products for Scope 2 Needs appeared first on Constellation's Energy4Business Blog.

During the November Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors...

The post Webinar Analysts: 2024 Election Impacts, Winter Weather Outlook and Natural Gas Fundamentals appeared first on Constellation's Energy4Business Blog.

During the November Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors affecting the energy landscape. The webinar featured discussions on current drivers of energy market prices including a forecast of winter weather, the impact of the 2024 election on energy markets, natural gas production and storage fundamentals and a look at the 2024 NERC Winter Assessment.

Weather Report

The team kicked off the webinar covering the current weather patterns and forecasts. The latest data suggests a neutral or weak La Niña leading to a more neutral weather pattern, with above-normal temperatures in the eastern U.S., while the Northwest and Rockies may experience stormy and cold weather. The team also discussed the recent hydro outlook in California and an update on the drought conditions across the U.S.

All Things Economic

Moving to the economy, Chief Economist, Ed Fortunato, provided insights into the current and future state of the economy post-election. In the short-term, the stock market and cryptocurrency markets have responded positively to the election and economic indicators such as mortgage rates, yield curve and GDP point towards a strengthening economy. In the longer term, the market seems to be anticipating corporate tax cuts, potential rollbacks of regulations and the impact of tariffs on imported goods.

2024 Election Impacts

The biggest news in the United States in November was the 2024 Presidential election and the perceived impacts that a second Trump administration would have on the energy markets. Constellation’s Vice President of Federal Government Affairs, David Gilbert, joined the webinar to provide his insights into the next four years. The discussion highlighted the future of regulations that have hindered oil and gas drilling.  In the renewable space, the clean energy support of the Inflation Reduction Act (IRA) may be in jeopardy as well as U.S. involvement with the Paris Climate Agreement. The team also covered budget reconciliation, which is a legislative process that allows for expedited consideration of certain tax, spending and debt limit legislation that the administration will try to pass.

Natural Gas Fundamentals

Mild weather to start the traditional “heating season” has allowed for injections to continue, bringing stocks just below 4.0 Tcf, a level not seen since 2016. On the production side, several key factors such as heating demand and policies of the incoming administration are influencing producers’ activity, which has settled around 100-101 Bcf/d in recent months.

NERC Winter Assessment

The team then highlighted the NERC Winter Reliability Assessment, the steady increase in natural gas demand from generation and its implications for grid reliability. The assessment emphasized the importance of ensuring sufficient natural gas supplies to meet the increased demand during the winter months. It also addressed the potential risks and challenges associated with maintaining grid reliability in the face of variable weather patterns and increased energy consumption. Overall, the assessment underscored the need for careful planning and coordination to ensure a reliable energy supply during the winter season.

Market Trends and Temperature

The team concluded the webinar by looking at forward power charts, the “Market Temperature,” and other factors affecting the energy market.

View Webinar Recording

We invite you to join us for our next Energy Market Intel Webinar on Wednesday, December 18 at 2 pm ET. Constellation energy experts will offer detailed and timely updates on factors affecting energy landscape such as weather, natural gas storage and production, and domestic and global economic conditions. Register by visiting  www.constellation.com/marketintelwebinar.

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Webinar Analysts: 2024 Election Impacts, Winter Weather Outlook and Natural Gas Fundamentals appeared first on Constellation's Energy4Business Blog.

As businesses work to reduce their carbon footprint and meet sustainability goals, addressing Scope 2 emissions has become a critical...

The post Managing Scope 2 Emissions appeared first on Constellation's Energy4Business Blog.

As businesses work to reduce their carbon footprint and meet sustainability goals, addressing Scope 2 emissions has become a critical part of their environmental strategy. Businesses can implement a variety of immediate and long-term solutions to reduce Scope 2 emissions and meet their sustainability goals.

Understanding Scope 2 Emissions

These indirect greenhouse gas emissions come from purchased energy used to power company operations. Although they physically occur at the facility where the energy is generated, they are included in an organization’s GHG inventory because they stem from the organization’s energy use.

When accounting for Scope 2 emissions from purchased electricity, businesses have two primary approaches:

• Location-Based Method: Assesses average emission factors for regional utility grids supplying a company’s facilities. It provides insights into the general carbon intensity of electricity where a company operates.
• Market-Based Method: Reflects emissions from electricity that companies have purposefully chosen. It inventories emissions via contractual instruments, which include any type of contract between two parties for the sale and purchase of energy bundled with attributes about the energy generation, or for unbundled attributes.

While understanding the distinction between location-based and market-based methods is crucial, businesses should also consider the impact of their chosen solutions. To effectively reduce emissions, it’s important to consider strategies based on their timeframes. At Constellation, we have a variety of Scope 2 products categorized by their immediate and long-term impact.

Solutions for Reducing Scope 2 Emissions

Reducing Scope 2 emissions is essential for demonstrating a commitment to environmental sustainability. This can be achieved through carbon-free power generation, energy efficiency measures, on-site generation, purchasing renewable energy certificates (RECs) or emission-free energy certificates (EFECs), and improving grid integration.

When choosing the optimal solutions, businesses should consider several factors including urgency, budget constraints and sustainability goals. Immediate impact solutions provide quick, measurable results for urgent emissions reduction, while long-term solutions involve direct actions and commitments, supporting the development of new renewable energy projects.

Immediate Impact Solutions

Customers can make a cost-effective investment to support the production of electric power from generation sources that do not directly emit greenhouse gases (GHG) by purchasing carbon-free or renewable electricity. Both are easy to implement, significantly impact emissions reduction and help meet sustainability goals.

• Emission-Free Energy Certificates (EFECs) represent the emission-free attributes of generation sources like solar, wind, nuclear and hydropower. Available in both regulated and competitive energy markets, this low-cost solution supports emission-free energy generation sources and may assist your company in meeting goals for lowering emissions associated with its annual electricity consumption.^{1, 2} 
• Renewable Energy Certificates (RECs) support sustainability goals by representing the environmental benefits of renewable energy. Sourced from renewable generating facilities within the continental U.S., each REC represents proof that energy has been generated from renewable sources and is retired on behalf of a company’s environmental commitment.
• Project-Specific RECs offer location-specific benefits by sourcing RECs from specific offsite renewable projects. Available in both competitive and regulated energy markets, businesses that purchase project RECs are supporting renewable energy projects that can lower their Scope 2 emissions.²

Long-Term Solutions

Businesses looking for longer-term solutions can choose between solutions that provide substantial benefits and significantly reduce carbon emissions.

• Constellation Offsite Renewables (CORe) integrates renewable energy purchases from existing or new build renewable generation assets into a load-following energy supply agreement. Constellation provides customers energy and project RECs from the renewable project.
• Hourly Carbon-Free Energy Matching (HCFE) aligns a company’s electricity consumption with local, emission-free energy sources on an hourly basis, helping eliminate carbon impact so businesses can reach net-zero goals.

Charting a Path Towards Sustainability

Businesses can leverage any of these immediate impact or long-term solutions to find the optimal strategy that aligns with their needs. Connect with a Constellation expert today to identify a custom strategy and move towards a more sustainable future.

Contact Us Today

¹ Check your GHG reporting protocols to confirm.

² Based on current World Resources Institute (WRI) guidance. Scope 2 reporting claims of this product may be affected by future changes.

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation Navigator, LLC, Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Managing Scope 2 Emissions appeared first on Constellation's Energy4Business Blog.

The search for sustainable energy solutions has become a defining narrative in the corporate sector, proving the escalating commitment of...

The post Expanding Access to Offsite Renewable Energy appeared first on Constellation's Energy4Business Blog.

The search for sustainable energy solutions has become a defining narrative in the corporate sector, proving the escalating commitment of businesses to sustainable practices. This commitment is evident in the current energy landscape, which has seen remarkable year-over-year growth in renewable energy procurement. As we continue our series on the foundational elements of corporate sustainability, we now build on our previous discussion and turn to the solutions that are driving this transformation.

At Constellation, part of our mission is to guide organizations on their transition towards cleaner energy sources. Our innovative approaches allow companies to face the challenges and opportunities that come with the transition while reducing their carbon footprint. Constellation’s Offsite Renewables (CORe) program is our proven solution that offers businesses renewable energy products that focus on transaction simplification and risk management.

Simplifying the Complex: Expanding Access Through CORe

Constellation launched CORe to help handle the intricacies of offsite clean energy purchasing. The program simplifies and scales the procurement process, making renewable energy more accessible.

After successfully implementing the initiative for some of the largest corporations and institutions across the U.S., Constellation dedicated itself to expanding access to small- and medium-sized businesses. This platform expansion aims to make the clean energy revolution more inclusive by breaking down barriers that traditionally prevented small- and medium-sized businesses from participating in offsite renewable projects. Offering renewable energy in smaller increments empowers a broader range of companies to participate and support the financial viability of new renewable energy projects.

Advancing Renewable Energy Solutions

The CORe program facilitates access to clean power and integrates risk management solutions that help mitigate potential financial risks associated with renewable energy procurement. This approach supports the financial viability of new renewable energy projects and helps businesses manage their carbon footprints more effectively.

Key Benefits of Expanding Access

The expansion of Constellation’s offsite renewable product suite to smaller customers offers a range of advantages, making renewable energy procurement more accessible and manageable for customers of all sizes. By providing tailored solutions, CORe empowers companies to take significant steps towards sustainability. Here are some of the key benefits:

• Simplification: The CORe program simplifies the contracting process, making it easier for businesses to support clean energy development.
• Inclusivity: By offering clean energy in smaller increments, CORe expands the ecosystem of companies that can participate in the offsite renewable marketplace.
• Risk Management: The program includes integrated risk management services that help organizations effectively manage the unpredictable budgets associated with clean energy purchasing.

Join Constellation in the Renewable Energy Movement

The drive for renewable energy procurement is growing, and Constellation is leading the transition. Whether you’re a small business or large corporation, you can find tailored solutions to help you achieve your sustainability goals. By participating in CORe, your company can contribute to building a sustainable, inclusive energy future.

Take Action

The Preparing for the Next Era of Corporate Renewable Procurement White Paper delves deeper into offsite renewable energy procurement as well as Constellation’s other innovative offsite clean energy solutions. Looking to take a proactive step towards sustainability? Learn more about the full scope of Constellation’s renewable energy solutions and how we can help you transform your sustainability journey by downloading our white paper today.

Contact Us Today

Learn more about how you can leverage Constellation’s expertise to shape your energy strategy.

Download White Paper

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation Navigator, LLC, Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Expanding Access to Offsite Renewable Energy appeared first on Constellation's Energy4Business Blog.

The energy landscape is undergoing a significant transformation, driven by factors such as the data economy and national security. Customers...

The post Plugged In Podcast: Navigating the Future of Nuclear Energy appeared first on Constellation's Energy4Business Blog.

The energy landscape is undergoing a significant transformation, driven by factors such as the data economy and national security. Customers are looking for clean, emissions-free energy they can rely on and nuclear energy is an obvious choice for customers. However, the path to widespread adoption of new nuclear technologies is full of challenges. Innovative solutions and investments are being pursued as organizations work to overcome these challenges and achieve a sustainable energy future.

While the energy industry is increasingly recognizing the importance of nuclear, the path to widespread adoption requires the collaborative efforts of policymakers, industry leaders and innovators to address high costs associated with early deployment and the need for robust policy and regulatory support.

Policy and Regulatory Support

Addressing rising demand challenges requires strong policy and regulatory actions to ensure that the grid can handle increasing demand while maintaining reliability.

Federal programs play a pivotal role in supporting the existing nuclear fleet. These programs provide financial incentives and stability, ensuring that nuclear plants can continue to operate and invest in necessary upgrades. This surge in demand underscores the importance of innovative solutions and technological advancements in the energy sector.

Small Modular Reactors (SMRs) and Investment in Nuclear Energy

Building on the strengths of traditional nuclear energy, Small Modular Reactors (SMRs) have emerged as a promising solution. Designed to be smaller and more flexible than traditional nuclear reactors, SMRs represent a significant advancement in nuclear technology. SMRs also offer enhanced safety features, scalability and the ability to be deployed in a variety of settings, making them ideal for replacing fossil generation and providing reliable, carbon-free power.

Recognizing the potential of SMRs, various companies and organizations are investing in these innovative technologies to meet policy requirements and achieve their sustainability goals. For instance, Google has partnered with Kairos Power to support the first commercial deployment of Kairos Power’s reactor by 2030 and a fleet totaling 500 MW of capacity by 2035. This partnership aims to accelerate the development and deployment of advanced nuclear technologies, contributing to Google’s 24/7 carbon-free energy and net-zero goals.

Similarly, Amazon has signed agreements to support the development of several new SMRs as part of its plan to transition to carbon-free energy. These projects include the construction of SMRs by Energy Northwest and investments in X-energy’s advanced nuclear reactor design. These initiatives demonstrate the growing interest and investment in SMRs as a viable solution for meeting the increasing energy demands while reducing carbon emissions.

Another organization that’s making significant strides in the deployment of SMRs is Rolls Royce. The company signed a Memorandum of Understanding with ULC-Energy BV to support the deployment of a fleet of Rolls-Royce SMRs in the Netherlands. These reactors are designed to provide consistent baseload generation for at least 60 years, with 90% of the SMR being built in factory conditions, which significantly reduces project risk and shortens construction timelines.

These investments by leading companies and organizations highlight the growing confidence in SMRs as a key component of the evolving energy landscape. By leveraging advanced nuclear technologies, they are not only addressing the challenges of decarbonization and grid reliability but also paving the way for a more sustainable and resilient energy system.

Learn More with Our Podcast

If you’re interested in learning more about the challenges and solutions in the energy sector, we invite you to listen to our podcast, Plugged In: Exploring Energy, hosted by Chuck Hanna, Vice President of Solutions and National Accounts at Constellation. In the first episode, we dive deeper into the topics covered in this blog, as well as additional topics including the impact of AI and data centers on electricity demand, the importance of developing nuclear technologies domestically for international partnerships and national security and the various industry-specific applications of microreactors. Tune in for our entire series to gain valuable insights and stay informed about the future of energy.

By addressing these challenges and offering custom solutions, Constellation is leading the way in the transition to a sustainable and reliable energy future. Join us on this journey and discover how we can help you achieve your energy goals.

Listen to the Podcast

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the blog and podcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Plugged In Podcast: Navigating the Future of Nuclear Energy appeared first on Constellation's Energy4Business Blog.

As we continue our series exploring strategies organizations can implement to reduce their carbon footprint, this post explores the next...

The post Reducing your Carbon Footprint with RECs and EFECs appeared first on Constellation's Energy4Business Blog.

As we continue our series exploring strategies organizations can implement to reduce their carbon footprint, this post explores the next steps in the sustainability journey by evaluating organizations’ energy sources and ways to mitigate emissions through decarbonization.

While decarbonizing your organization’s energy supply may seem daunting, there are a variety of options to consider. Your organizational objectives should inform whether your plan focuses on renewable energy supply, supply from carbon-free non-renewable resources, or a combination of both. With guidance from an energy supplier, your business can navigate the energy solutions that can help decarbonize your organization’s energy supply, a crucial step towards meeting your overall environmental goals.

Choose Carbon-Free Energy Sources

Emission-Free Energy Certificates (EFECs) allow businesses to quickly begin their process towards achieving and claiming lower emissions. EFECs represent one megawatt-hour (MWh) of electricity generated from an emission-free source, typically nuclear energy. By purchasing EFECs matching all or a portion of your organization’s electricity usage, your organization is supporting emission-free generation sources, while reducing emissions associated with its annual electricity usage. This is an especially effective solution for:

• Organizations that are not well-positioned to source their power from onsite renewable sources based on land or capital limitations
• Organizations that do not have a specific sustainability roadmap established but want to communicate their incremental efforts and impacts
• Assisting your company in meeting goals for lowering emissions associated with its annual electricity consumption^{1, 2}

Champion Carbon Reduction

Another option is by matching all or a portion of your organization’s annual electricity usage with Renewable Energy Certificates (RECs). RECs serve as a way to incentivize renewable energy generation and support the development of clean energy projects. They provide a means for businesses, organizations and individuals to claim the environmental benefits of renewable energy without having to physically consume the electricity generated from renewable sources. Each REC represents the environmental benefits of one megawatt-hour (MWh) of electricity generated by a renewable power plant and is retired on behalf of your environmental commitment.

RECs can be purchased as a block or a percentage of your electricity supply to match a percentage of your organization’s annual energy use and allow you to claim a reduction in “Scope 2” greenhouse gas (GHG) emissions from electricity use, while supporting facilities that generate clean, renewable energy.^{1, 2}

For example, NewMix® RECs purchased are sourced from wind and/or solar energy facilities in the lower 48 states.

Choose your Purchasing Strategy

RECs and EFECs can be bought as either load following or block purchases. Load following purchases match every unit of electricity consumed by the organization with an equivalent amount of renewable or carbon-free energy generated and added to the grid. The organization receives a REC or EFEC for each unit of renewable or carbon-free energy generated, which can be used to match a percentage (up to 100% in certain cases) of greenhouse gases. This ensures that the organization’s electricity usage is directly matched by the generation of renewable or carbon-free energy.

With some timing and deadline limitations, a customer may purchase REC or EFEC blocks to match historical consumption and/or they can purchase REC or EFEC blocks to match expected or projected volumes.

For example, a company could be hosting a conference and want it to be powered by sustainable energy. It can buy a block of REC or EFECs for the duration of the conference. For example, an organization would look to purchase an 800 MWh block of EFECs for the conference.

Another example would be a company that wants to meet its sustainability goals, estimating it uses 3,000 MW a year based on its historic load. The company can buy a block of RECs or EFECs for that amount and then buy more, if needed, towards the end of the year.

Take Action Today

Both products provide flexibility to meet regulatory requirements or voluntary sustainability goals. RECs and EFECs can be purchased, transferred and tracked easily and reliably.

“While investing in RECs or EFECs comes with a small incremental cost, it creates the opportunity for a business to quickly indicate to its customers and shareholders that it has started the process toward achieving sustainable practices.”  – Raj Bazaj, Vice President of Sustainability Solutions, Constellation

No matter how your organization leverages available carbon reduction options, when it comes to your company’s commitment to decarbonization, feel free to begin incrementally and progress at the speed and complexity needed to help achieve your corporate efficiency commitments. RECs or EFECs offer a method for organizations to begin decarbonization of their energy supply, while working toward fully carbon-free energy supply through offsite renewable purchases or hourly carbon-free energy matching.

Ready to work with energy experts who have the tools to easily connect your energy usage to your sustainability goals? Constellation can help your organization set a pathway to a more sustainable future.

.

Contact Us Today

Learn more about building your sustainability roadmap with our new white paper.

Download our White Paper

Interested in reading our previous posts in this series? We’ve explored critical foundations like establishing your GHG emissions baseline to understand your current footprint, connecting energy usage to business goals to drive reductions, and implementing energy efficiency to reduce consumption. With the foundational strategies from these four blogs, your business should be well equipped to continue your business’s sustainability journey.

¹ Check your GHG reporting protocols to confirm.

² Based on current World Resources Institute (WRI) guidance. Scope 2 reporting claims of this product may be affected by future changes.

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Reducing your Carbon Footprint with RECs and EFECs appeared first on Constellation's Energy4Business Blog.

Sustainability is a growing trend impacting both individuals and businesses, with over 23,000 companies disclosing their carbon reduction performance to...

The post Emissions Reporting Legislation for Business appeared first on Constellation's Energy4Business Blog.

Sustainability is a growing trend impacting both individuals and businesses, with over 23,000 companies disclosing their carbon reduction performance to the Carbon Disclosure Project and 6,000 companies committing to science-based targets. Beyond voluntary disclosures, there has been an increase in legislation from the federal, state and local levels that has led businesses to assess and evaluate their emissions and energy consumption. Constellation’s Sustainability Management Group and Constellation Navigator division held a webinar discussing the impacts that this legislation has on businesses.

Green City Mandates

Constellation’s sustainability experts kicked off the webinar discussing the ever-growing list of Green City Mandates. Given the increasing severity of the climate crisis, the Federal U.S. Government has committed to achieve a net zero goal by 2050 under the Paris Agreement. In response, many large cities in the U.S, where commercial and industrial buildings account for about 40% to 80% of a city’s emissions, have also begun to develop climate action plans to reduce their carbon footprint. A common initiative among these cities is the implementation of building emission mandates or ordinances, often referred to as “Green City Mandates.” The team discussed a handful of cities that have made climate plans as aggressive as the federal government. They also discussed how cities are benchmarking large buildings’ Energy Use Intensity (EUI), different strategies that buildings can leverage and the potential financial penalties for non-compliance.

California State Senate Bills 253 and 261

Beyond localized, building-level mandates, other regulations, such as California Senate Bill 253 and 261, made California the first U.S. state to introduce statewide legislation specifically targeting greenhouse gas (GHG) emissions reporting at the organizational level. California State Bills 253 and 261 impose stringent new requirements on large companies doing business in California to publicly report their annual GHG emissions and climate-related financial risks. Senate Bill 253 requires entities with total annual revenues of $1 billion or more that do business in California to report their GHG emissions annually. The bill does not define what it means to “do business in California,” but the state tax code defines this term as engaging in any transaction for financial gain within California, being organized or commercially domiciled in California, or having California sales, property or payroll that exceed specified amounts. Senate Bill 261 requires companies with over $500 million to prepare a climate-related financial risk report biennially and make it publicly available on their websites.

The California Air Resources Board (CARB) will be developing final requirements for disclosure, and reporting entities must publicly disclose their prior fiscal year’s Scope 1 and 2 GHG emissions with limited third-party assurance starting January 1, 2025. By January 1, 2026, entities must also prepare a climate-related financial risk report and make it publicly available, with third-party assurance evaluation for Scope 3 emissions being discussed currently.

The webinar emphasized that Senate Bill 253 and 261 require third-party auditors to verify and certify the data reported by organization. This verification process ensures the accuracy and reliability of the reported energy consumption, carbon emissions and other building characteristics.

Take Action Today

Constellation offers solutions tailored to different cities’ mandates, as the requirements can vary significantly. For example, a solution that is effective for a building in Boston may not produce the same results for a building in Chicago. Constellation’s expertise in navigating these differences and providing customized solutions can be a significant advantage for businesses looking to comply with emissions reporting legislation.

Gain valuable insights from Constellation’s expert panel and the audience Q&A in the webinar below.

View Webinar Recording

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Emissions Reporting Legislation for Business appeared first on Constellation's Energy4Business Blog.

During the October Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant...

The post Webinar Analysts: Hurricane Season, Natural Gas Fundamentals and Capacity Market Updates appeared first on Constellation's Energy4Business Blog.

During the October Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors affecting the energy landscape. The webinar featured discussions on current drivers of energy market prices including recent hurricane impacts, recent rate cuts by the Fed, natural gas fundamentals and oil markets

Weather Report

The team kicked off the webinar by covering important weather forecasts and insights, discussing the current hurricane season, which has 13 named storms so far, with five making landfall in the United States. This hurricane season was highlighted as having an unusual, including the first Category 5 hurricane recorded in June and the longest stretch of quiet period in over 50 years. The team also discussed an outlook for the remainder of the hurricane season and the upcoming winter, predicting a mild winter dominated by a weak La Niña pattern.

All Things Economic

Chief Economist, Ed Fortunato, shared insights on the economy, focusing on interest rates, energy impacts and the Federal Reserve’s actions. The recent 50 basis point rate cut by the Federal Reserve and its implications for the economy were highlighted, along with the strong performance of the equity markets, driven by AI and a broader-based rally. Fortunato also discussed the impact of energy production and consumption on the economy, noting that U.S. oil production has been rising while China, the largest importer of oil, has been experiencing a slowdown.

Natural Gas Fundamentals

Constellation’s energy market experts then analyzed the factors influencing natural gas prices. They noted that natural gas production is holding steady in the 101-102 Bcf/d range, with some cutbacks by Gulf of Mexico producers. Although there have been several below-average injections, the forecasts for end-of-season storage inventory have not changed significantly. The team also discussed the impact of higher oil prices on natural gas supply, suggesting that increased oil production in the Permian Basin could lead to higher associated natural gas production.

Fiscal conservatism continues to guide producers as they await a market signal. Space heating demands and a decline in storage could boost prices enough to encourage an increase in drilling activity, which would be a bearish influence. The U.S. is expected to begin the heating season with a comfortable amount of gas in storage, and a winter forecast suggesting heating demand may fall below average. If the La Niña conditions continue, we may end the winter with more than 2 Tcf remaining in storage.

Oil Markets

Recent developments in the oil markets include the impact of geopolitical events on oil prices. The announcement that Israel would not attack Iranian oil production facilities led to a drop in prices. However, a larger threat to global supply lies in the potential for shutting down the Straits of Hormuz. The U.S., while being the world’s largest producer of crude oil, still imports approximately 6 million barrels per day, with only 1 million barrels per day coming from OPEC. This means that troubles in OPEC are much more muted for the U.S. than in the past.

Capacity Markets

The team commented on recent capacity markets developments, focusing on PJM and noting the recent six-month delay requested by PJM to FERC for the 2026/’27. They discussed the challenges associated with these changes and urged market participants to continue to follow news developments. PJM’s site Inside the Lines (https://insidelines.pjm.com/) remains an excellent source for news on market developments.

Market Trends and Temperature

The team concluded the webinar by looking at forward power charts, the “Market Temperature,” and other factors affecting the energy market.

View Webinar Recording

We invite you to join us for our next Energy Market Intel Webinar on Wednesday, November 20 at 2 pm ET. Constellation energy experts will offer detailed and timely updates on factors affecting energy landscape such as weather, natural gas storage and production, and domestic and global economic conditions. Register by visiting  www.constellation.com/marketintelwebinar.

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Webinar Analysts: Hurricane Season, Natural Gas Fundamentals and Capacity Market Updates appeared first on Constellation's Energy4Business Blog.

In today’s energy landscape, an increasing number of businesses are looking for ways to reduce their greenhouse gas emissions, support...

The post Leading the Way in Corporate Renewable Energy Solutions appeared first on Constellation's Energy4Business Blog.

In today’s energy landscape, an increasing number of businesses are looking for ways to reduce their greenhouse gas emissions, support their sustainability strategies and mitigate their energy pricing risk. Renewable energy procurement has been a key solution for many businesses striving to achieve these goals. According to the Clean Energy Buyers Association, renewable energy purchases by commercial and industrial customers surged to nearly 17 GW in 2022, a 172% increase since 2018.

Constellation has been at the forefront of this transition, simplifying and scaling access to offsite renewables through Constellation’s Offsite Renewables (CORe) program. CORe enables customers to support the development of new wind or solar projects that feed power into the grid and match their usage through a simple retail renewable energy contract. Constellation handles the most complicated aspects of the process, including sourcing viable projects, conducting analytics, negotiating PPAs and structuring the transactions – making the process easier for customers.

In this first blog in our corporate renewable energy series, we discuss our innovative solutions and their impact on supporting local communities and matching usage to carbon-free sources.

Constellation’s Next Wave of Renewable Energy Products

After establishing the CORe program, Constellation recognized additional challenges customers faced in procuring renewable energy. It committed to establishing innovative products to help even more customers access clean power, support local communities and match their usage to carbon-free sources.

Expanding access to offsite renewable energy

Constellation recognized the challenges small- and medium- sized businesses faced while looking to purchase renewable energy, including high credit standards, time and resource constraints, and access to renewable projects. Constellation is developing new offerings to allow more commercial businesses to commit to their sustainability journeys and overcome these barriers by:

• Purchasing portions of CORe projects in smaller increments.
• Significantly reducing the minimum energy commitment.

Impact PPAs for local communities

To deliver broader community benefits in addition to clean power, Constellation developed an impact PPA model, which expands the benefits of the large offsite renewable energy projects they support to local communities. Under the impact PPA model, Constellation and the project developer:

• Dedicate a portion of revenues to fund initiatives such as workforce training, education and job placement assistance in underserved communities.
• Tailor these programs based on the project location, company location and needs of the residents.
• Expand renewable energy careers to underrepresented groups, provide the training needed while strengthening local inclusion and enabling renewable energy expansion.

This model was designed for broad application across various industries and projects, ensuring that community benefits and support are consistently delivered in every market. For a real-world example of how impact PPAs can benefit local communities, read about our collaboration with the City of Chicago, which highlights the city’s renewable energy commitment and workforce development.

Hourly carbon-free energy matching for real-time performance

Constellation developed an hourly matching product, leveraging Microsoft technology, to pair customer usage with carbon-free and renewable sources on an hour-by-hour basis. The hourly carbon-free energy matching product combines Constellation’s expertise in generation and supply management with advanced data analytics to deliver a comprehensive solution that empowers businesses to:

• Gain visibility into hourly energy supply and emissions on the local grid.
• Receive recommendations on supply strategies and investments to reduce carbon impact.
• Track progress towards achieving hourly carbon-free energy matching.

Powered by advanced and reliable data tracking and analytics that match a customer’s real-time energy usage to the grid’s generation mix, businesses can easily understand their performance and emissions rates and identify the most impactful steps for improvement.

Take Action Today

Ready to revolutionize your renewable energy strategy while effectively managing risks and costs? Reach out to Constellation to get started on the path to a more sustainable future. Plus, stay tuned for our upcoming deep dives into the solutions highlighted in this blog as we progress through our corporate renewable energy series.

Contact Us Today

Learn more about how you can leverage Constellation’s expertise to shape your energy strategy.

Download White Paper

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation Navigator, LLC, Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Leading the Way in Corporate Renewable Energy Solutions appeared first on Constellation's Energy4Business Blog.

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The post Executive Energy Forum 2024 – Responding to the New Era of Load Growth appeared first on Constellation's Energy4Business Blog.

]]> 3 min read

On November 14th, Constellation hosted its 2024 Executive Energy Forum (EEF), where Constellation and industry thought leaders discussed the evolving energy landscape, strategies for managing record load growth, customer energy consumption strategies and the impact of the 2024 election on the energy industry.

Rising to Challenges in the Energy Sector

Greg Kosier, Director of the Commodities Management Group at Constellation, moderated a discussion with industry leaders on how markets, grid planners and operators are adjusting to significant changes in the energy industry over the past 15 years and in the future. Panelists included Gene Alessandrini, Senior Vice President of Energy at CyrusOne; Robert Joyce, former NSA Cybersecurity Director; and Bill Berg, Vice President of Federal Regulatory Affairs at Constellation. The discussion focused on the major transformations that the energy industry has seen over the past few years, such as the shale revolution, the growth of renewable energy and the rise of LNG development. Factors influencing the future of the industry were also covered, including the rapid growth of data centers, the AI boom, EV demand and reliability and affordability concerns.

The panel highlighted the specific challenges the electric grid faces in meeting this new demand, particularly the need for more dispatchable resources and managing peak demand. They emphasized the importance of flexibility in energy management and the role of AI in energy forecasting and optimization. Additionally, constraints to building new generation resources were addressed, including an electric grid in need of upgrades, slow approvals for new clean electricity projects and finding suitable locations for additional clean energy infrastructure. The importance of data centers in the U.S. from a national security standpoint including overseas data centers and the role of AI for future economic and military advantages was also highlighted.

Powering the Future: Customer-Focused Energy Solutions

Looking at a customer focus, Shoun Sinha, Managing Director at Venture and R&D at Constellation, moderated a panel featuring Samuel Bordenave, CFO at SWITCH; Sean McEvoy, head of Sales & Chief Product Officer at Grid Beyond; Levi Love, Energy Procurement & Analytics at Sheetz; and Abhinav Krishna, VP of Commercialization & Development at Constellation. The discussion was focused on the evolving energy landscape for energy managers, innovative solutions and consumer adaptation strategies that businesses can leverage to meet their energy goals. The panel shared insights on the biggest opportunities for energy consumers, technological advancements and sustainability strategies.

The importance of flexibility in adaptive energy management strategies was emphasized, highlighting how it allows businesses to better respond to dynamic changes in electricity prices and grid conditions. Flexibility in energy management can help reduce total energy consumption, improve energy quality and enhance peak load management capabilities. Additionally, customer panelists offered their experiences with understanding their energy usage and managing their costs effectively.

2024 Election Analysis and Policy Outlooks

The program was concluded with a location-relevant discussion on the 2024 election. This panel featured Amy Harder, Executive Editor at Cipher News; Ron Brownstein, Senior Editor at The Atlantic and Senior Political Analyst at CNN; and was moderated by Bill Loveless, Co-host of the Columbia Energy Exchange podcast and Director of the Columbia Energy Journalism Initiative. The panelists discussed the second Trump administration’s likely impact on energy and climate issues. Focus was primarily held on the energy transition, especially in red states which have been resistant to clean energy initiatives.

Panelists also touched on the potential for increased oil and natural gas drilling, the impact of Elon Musk on the energy landscape and the overall uncertainties facing the industry. They emphasized that these challenges, coupled with the transformative role of AI in energy forecasting and optimization, have the potential to significantly enhance how energy demand and supply are managed.

Constellation’s Commitment to Your Energy Goals

Constellation can help you create and implement a procurement plan to achieve your emissions-free objectives, connecting you with the solutions, strategic relationships and technology you need. To help you develop a plan tailored specifically to your company, we provide you with the expertise and resources you need for success.

Watch our full Executive Energy Forum recording on demand for access to further insights on the future of energy.

 

View Full Recording

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions at the ‘Executive Energy Forum’ event by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the event or for any omission or error of fact.

 

The post Executive Energy Forum 2024 – Responding to the New Era of Load Growth appeared first on Constellation's Energy4Business Blog.

]]> Julie Haviland https://blogs.constellation.com/sustainability/exploring-clean-energy-products-for-scope-2-needs/ Tue, 10 Dec 2024 19:52:53 +0000 https://blogs.constellation.com/sustainability/navigating-the-future-of-nuclear-energy-copy/ As the energy sector evolves in this technology-driven world, businesses are under increasing pressure to reduce their carbon footprint and...

The post Plugged In Podcast: Exploring Clean Energy Products for Scope 2 Needs appeared first on Constellation's Energy4Business Blog.

]]> 3 min read

As the energy sector evolves in this technology-driven world, businesses are under increasing pressure to reduce their carbon footprint and meet sustainability goals. One of the key challenges they face is how to effectively purchase carbon-free energy products to address their Scope 2 emissions. Once commercial and industrial energy buyers understand the energy mix in their specific market, investing in the right solutions can help them make informed decisions to support their sustainability goals.

The Importance of Carbon-Free Energy Commitments

Many companies have committed to being 100% covered by carbon-free energy by a specific date, such as 2030. This means that for every electron they use, they will procure one new electron of carbon-free electricity to cover it. To achieve these commitments, the first step is considering the dynamics of different energy markets.

Understanding Energy Markets

Every energy market is unique, with different sources of electricity, market rules, geographies, and climate and weather patterns. Recognizing these differences is crucial for companies looking to make informed decisions when purchasing carbon-free energy products that align with their sustainability goals.

The chart below shows the estimated annual grid mix by ISO region and can help businesses identify the energy landscape in different markets. This mix can vary over time based on factors such as demand, weather conditions and changes in energy production. For instance, ERCOT relies heavily on natural gas and wind, while PJM has a significant portion of its electricity generated from natural gas and nuclear power. MISO, on the other hand, has a more balanced mix with substantial contributions from natural gas, coal, wind and nuclear. The grid mix data can be used to help define your goals around carbon-free strategies, allowing each customer to determine what’s best for its needs.

Source	ERCOT	PJM	MISO
Natural Gas	44.8%	43.2%	35.78%
Coal	13.9%	14.5%	25.95%
Nuclear	9.13%	32.83%	13.03%
Wind	24.12%	3.54%	13.61%
Solar	7.12%	1.15%	0.94%
Hydro	0.07%	1.85%	1.48%

Carbon-Free and Renewable Energy Solutions

As businesses strive to reduce their Scope 2 emissions, implementing the right mix of carbon-free and renewable energy solutions can significantly advance sustainability goals. Customers can choose from any combination of these key solutions:

1. EFECs and RECs: RECs represent the emission-free attributes of one megawatt hour (MWh) of electricity generated by a renewable energy resource, such as wind or solar. Investing in RECs or EFECs allows businesses to quickly indicate their commitment to sustainable practices.
2. Offsite Renewables: Constellation Offsite Renewables (CORe) enables customers to integrate local offsite renewable energy purchases with a retail power supply contract. This includes integrating renewable energy purchases from existing renewable generation, including solar and wind facilities, into a load-following energy supply agreement or supporting the development of new renewable energy assets on their regional grid.
3. Hourly Carbon-Free Energy Matching: Hourly carbon-free energy matching is an innovative solution that pairs electricity use with a local emission-free energy source on an hourly basis. This method goes beyond other net-zero programs by providing a more precise and impactful way to achieve sustainability goals. By using hour-by-hour regional tracking, businesses can ensure that their energy use is matched with clean energy sources in real-time.

Learn More with Our Podcast

To gain more insights into the energy sector, listen to our podcast, Plugged In: Exploring Energy, hosted by Chuck Hanna, Vice President of Solutions and National Accounts at Constellation. In the second episode, we expand on the topics covered here and discuss additional subjects with Adrian Anderson, General Manager of Carbon-Free Electricity, Renewable Energy & Carbon Dioxide Removal at Microsoft. We dive into the importance of data in energy management and sustainability, investments in carbon reduction and innovation, the challenges and strategies around Scope 3 emissions, and the collaboration with utilities to support a sustainable future. Tune in to our series for valuable insights and stay updated on the future of energy.

By addressing these challenges and offering custom solutions, Constellation is leading the way in the transition to a sustainable and reliable energy future. Join us on this journey and discover how we can help you achieve your energy goals.

Listen to the Podcast

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the blog and podcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

 

 

The post Plugged In Podcast: Exploring Clean Energy Products for Scope 2 Needs appeared first on Constellation's Energy4Business Blog.

]]> Alex Aguiar https://blogs.constellation.com/energy-management/webinar-analysts-2024-election-impacts-winter-weather-outlook-and-natural-gas-fundamentals/ Wed, 04 Dec 2024 15:12:19 +0000 https://blogs.constellation.com/energy-management/webinar-analysts-hurricane-season-natural-gas-fundamentals-and-capacity-market-updates-copy/ During the November Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors...

The post Webinar Analysts: 2024 Election Impacts, Winter Weather Outlook and Natural Gas Fundamentals appeared first on Constellation's Energy4Business Blog.

]]> 3 min read

During the November Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors affecting the energy landscape. The webinar featured discussions on current drivers of energy market prices including a forecast of winter weather, the impact of the 2024 election on energy markets, natural gas production and storage fundamentals and a look at the 2024 NERC Winter Assessment.

Weather Report

The team kicked off the webinar covering the current weather patterns and forecasts. The latest data suggests a neutral or weak La Niña leading to a more neutral weather pattern, with above-normal temperatures in the eastern U.S., while the Northwest and Rockies may experience stormy and cold weather. The team also discussed the recent hydro outlook in California and an update on the drought conditions across the U.S.

All Things Economic

Moving to the economy, Chief Economist, Ed Fortunato, provided insights into the current and future state of the economy post-election. In the short-term, the stock market and cryptocurrency markets have responded positively to the election and economic indicators such as mortgage rates, yield curve and GDP point towards a strengthening economy. In the longer term, the market seems to be anticipating corporate tax cuts, potential rollbacks of regulations and the impact of tariffs on imported goods.

2024 Election Impacts

The biggest news in the United States in November was the 2024 Presidential election and the perceived impacts that a second Trump administration would have on the energy markets. Constellation’s Vice President of Federal Government Affairs, David Gilbert, joined the webinar to provide his insights into the next four years. The discussion highlighted the future of regulations that have hindered oil and gas drilling.  In the renewable space, the clean energy support of the Inflation Reduction Act (IRA) may be in jeopardy as well as U.S. involvement with the Paris Climate Agreement. The team also covered budget reconciliation, which is a legislative process that allows for expedited consideration of certain tax, spending and debt limit legislation that the administration will try to pass.

Natural Gas Fundamentals

Mild weather to start the traditional “heating season” has allowed for injections to continue, bringing stocks just below 4.0 Tcf, a level not seen since 2016. On the production side, several key factors such as heating demand and policies of the incoming administration are influencing producers’ activity, which has settled around 100-101 Bcf/d in recent months.

NERC Winter Assessment

The team then highlighted the NERC Winter Reliability Assessment, the steady increase in natural gas demand from generation and its implications for grid reliability. The assessment emphasized the importance of ensuring sufficient natural gas supplies to meet the increased demand during the winter months. It also addressed the potential risks and challenges associated with maintaining grid reliability in the face of variable weather patterns and increased energy consumption. Overall, the assessment underscored the need for careful planning and coordination to ensure a reliable energy supply during the winter season.

Market Trends and Temperature

The team concluded the webinar by looking at forward power charts, the “Market Temperature,” and other factors affecting the energy market.

 

View Webinar Recording

 

We invite you to join us for our next Energy Market Intel Webinar on Wednesday, December 18 at 2 pm ET. Constellation energy experts will offer detailed and timely updates on factors affecting energy landscape such as weather, natural gas storage and production, and domestic and global economic conditions. Register by visiting  www.constellation.com/marketintelwebinar.

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Webinar Analysts: 2024 Election Impacts, Winter Weather Outlook and Natural Gas Fundamentals appeared first on Constellation's Energy4Business Blog.

]]> Amanda Donohue https://blogs.constellation.com/sustainability/managing-scope-2-emissions/ Wed, 20 Nov 2024 20:46:19 +0000 https://blogs.constellation.com/sustainability/expanding-access-to-offsite-renewable-energy-copy/ As businesses work to reduce their carbon footprint and meet sustainability goals, addressing Scope 2 emissions has become a critical...

The post Managing Scope 2 Emissions appeared first on Constellation's Energy4Business Blog.

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As businesses work to reduce their carbon footprint and meet sustainability goals, addressing Scope 2 emissions has become a critical part of their environmental strategy. Businesses can implement a variety of immediate and long-term solutions to reduce Scope 2 emissions and meet their sustainability goals.

Understanding Scope 2 Emissions

These indirect greenhouse gas emissions come from purchased energy used to power company operations. Although they physically occur at the facility where the energy is generated, they are included in an organization’s GHG inventory because they stem from the organization’s energy use.

When accounting for Scope 2 emissions from purchased electricity, businesses have two primary approaches:

• Location-Based Method: Assesses average emission factors for regional utility grids supplying a company’s facilities. It provides insights into the general carbon intensity of electricity where a company operates.
• Market-Based Method: Reflects emissions from electricity that companies have purposefully chosen. It inventories emissions via contractual instruments, which include any type of contract between two parties for the sale and purchase of energy bundled with attributes about the energy generation, or for unbundled attributes.

While understanding the distinction between location-based and market-based methods is crucial, businesses should also consider the impact of their chosen solutions. To effectively reduce emissions, it’s important to consider strategies based on their timeframes. At Constellation, we have a variety of Scope 2 products categorized by their immediate and long-term impact.

Solutions for Reducing Scope 2 Emissions

Reducing Scope 2 emissions is essential for demonstrating a commitment to environmental sustainability. This can be achieved through carbon-free power generation, energy efficiency measures, on-site generation, purchasing renewable energy certificates (RECs) or emission-free energy certificates (EFECs), and improving grid integration.

When choosing the optimal solutions, businesses should consider several factors including urgency, budget constraints and sustainability goals. Immediate impact solutions provide quick, measurable results for urgent emissions reduction, while long-term solutions involve direct actions and commitments, supporting the development of new renewable energy projects.

Immediate Impact Solutions

Customers can make a cost-effective investment to support the production of electric power from generation sources that do not directly emit greenhouse gases (GHG) by purchasing carbon-free or renewable electricity. Both are easy to implement, significantly impact emissions reduction and help meet sustainability goals.

• Emission-Free Energy Certificates (EFECs) represent the emission-free attributes of generation sources like solar, wind, nuclear and hydropower. Available in both regulated and competitive energy markets, this low-cost solution supports emission-free energy generation sources and may assist your company in meeting goals for lowering emissions associated with its annual electricity consumption.^{1, 2} 
• Renewable Energy Certificates (RECs) support sustainability goals by representing the environmental benefits of renewable energy. Sourced from renewable generating facilities within the continental U.S., each REC represents proof that energy has been generated from renewable sources and is retired on behalf of a company’s environmental commitment.
• Project-Specific RECs offer location-specific benefits by sourcing RECs from specific offsite renewable projects. Available in both competitive and regulated energy markets, businesses that purchase project RECs are supporting renewable energy projects that can lower their Scope 2 emissions.²

Long-Term Solutions

Businesses looking for longer-term solutions can choose between solutions that provide substantial benefits and significantly reduce carbon emissions.

• Constellation Offsite Renewables (CORe) integrates renewable energy purchases from existing or new build renewable generation assets into a load-following energy supply agreement. Constellation provides customers energy and project RECs from the renewable project.
• Hourly Carbon-Free Energy Matching (HCFE) aligns a company’s electricity consumption with local, emission-free energy sources on an hourly basis, helping eliminate carbon impact so businesses can reach net-zero goals.

Charting a Path Towards Sustainability

Businesses can leverage any of these immediate impact or long-term solutions to find the optimal strategy that aligns with their needs. Connect with a Constellation expert today to identify a custom strategy and move towards a more sustainable future.

 

Contact Us Today

 

¹ Check your GHG reporting protocols to confirm.

² Based on current World Resources Institute (WRI) guidance. Scope 2 reporting claims of this product may be affected by future changes.

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation Navigator, LLC, Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Managing Scope 2 Emissions appeared first on Constellation's Energy4Business Blog.

]]> Amanda Donohue https://blogs.constellation.com/sustainability/expanding-access-to-offsite-renewable-energy/ Thu, 14 Nov 2024 14:23:24 +0000 https://blogs.constellation.com/sustainability/navigating-the-future-of-nuclear-energy-copy/ The search for sustainable energy solutions has become a defining narrative in the corporate sector, proving the escalating commitment of...

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The search for sustainable energy solutions has become a defining narrative in the corporate sector, proving the escalating commitment of businesses to sustainable practices. This commitment is evident in the current energy landscape, which has seen remarkable year-over-year growth in renewable energy procurement. As we continue our series on the foundational elements of corporate sustainability, we now build on our previous discussion and turn to the solutions that are driving this transformation.

At Constellation, part of our mission is to guide organizations on their transition towards cleaner energy sources. Our innovative approaches allow companies to face the challenges and opportunities that come with the transition while reducing their carbon footprint. Constellation’s Offsite Renewables (CORe) program is our proven solution that offers businesses renewable energy products that focus on transaction simplification and risk management.

Simplifying the Complex: Expanding Access Through CORe

Constellation launched CORe to help handle the intricacies of offsite clean energy purchasing. The program simplifies and scales the procurement process, making renewable energy more accessible.

After successfully implementing the initiative for some of the largest corporations and institutions across the U.S., Constellation dedicated itself to expanding access to small- and medium-sized businesses. This platform expansion aims to make the clean energy revolution more inclusive by breaking down barriers that traditionally prevented small- and medium-sized businesses from participating in offsite renewable projects. Offering renewable energy in smaller increments empowers a broader range of companies to participate and support the financial viability of new renewable energy projects.

Advancing Renewable Energy Solutions

The CORe program facilitates access to clean power and integrates risk management solutions that help mitigate potential financial risks associated with renewable energy procurement. This approach supports the financial viability of new renewable energy projects and helps businesses manage their carbon footprints more effectively.

Key Benefits of Expanding Access

The expansion of Constellation’s offsite renewable product suite to smaller customers offers a range of advantages, making renewable energy procurement more accessible and manageable for customers of all sizes. By providing tailored solutions, CORe empowers companies to take significant steps towards sustainability. Here are some of the key benefits:

• Simplification: The CORe program simplifies the contracting process, making it easier for businesses to support clean energy development.
• Inclusivity: By offering clean energy in smaller increments, CORe expands the ecosystem of companies that can participate in the offsite renewable marketplace.
• Risk Management: The program includes integrated risk management services that help organizations effectively manage the unpredictable budgets associated with clean energy purchasing.

Join Constellation in the Renewable Energy Movement

The drive for renewable energy procurement is growing, and Constellation is leading the transition. Whether you’re a small business or large corporation, you can find tailored solutions to help you achieve your sustainability goals. By participating in CORe, your company can contribute to building a sustainable, inclusive energy future.

Take Action

The Preparing for the Next Era of Corporate Renewable Procurement White Paper delves deeper into offsite renewable energy procurement as well as Constellation’s other innovative offsite clean energy solutions. Looking to take a proactive step towards sustainability? Learn more about the full scope of Constellation’s renewable energy solutions and how we can help you transform your sustainability journey by downloading our white paper today.

Contact Us Today

Learn more about how you can leverage Constellation’s expertise to shape your energy strategy.

Download White Paper

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation Navigator, LLC, Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Expanding Access to Offsite Renewable Energy appeared first on Constellation's Energy4Business Blog.

]]> Amanda Donohue https://blogs.constellation.com/sustainability/navigating-the-future-of-nuclear-energy/ Mon, 11 Nov 2024 16:58:32 +0000 https://blogs.constellation.com/sustainability/reducing-your-carbon-footprint-with-recs-and-efecs-copy/ The energy landscape is undergoing a significant transformation, driven by factors such as the data economy and national security. Customers...

The post Plugged In Podcast: Navigating the Future of Nuclear Energy appeared first on Constellation's Energy4Business Blog.

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The energy landscape is undergoing a significant transformation, driven by factors such as the data economy and national security. Customers are looking for clean, emissions-free energy they can rely on and nuclear energy is an obvious choice for customers. However, the path to widespread adoption of new nuclear technologies is full of challenges. Innovative solutions and investments are being pursued as organizations work to overcome these challenges and achieve a sustainable energy future.

While the energy industry is increasingly recognizing the importance of nuclear, the path to widespread adoption requires the collaborative efforts of policymakers, industry leaders and innovators to address high costs associated with early deployment and the need for robust policy and regulatory support.

Policy and Regulatory Support

Addressing rising demand challenges requires strong policy and regulatory actions to ensure that the grid can handle increasing demand while maintaining reliability.

Federal programs play a pivotal role in supporting the existing nuclear fleet. These programs provide financial incentives and stability, ensuring that nuclear plants can continue to operate and invest in necessary upgrades. This surge in demand underscores the importance of innovative solutions and technological advancements in the energy sector.

Small Modular Reactors (SMRs) and Investment in Nuclear Energy

Building on the strengths of traditional nuclear energy, Small Modular Reactors (SMRs) have emerged as a promising solution. Designed to be smaller and more flexible than traditional nuclear reactors, SMRs represent a significant advancement in nuclear technology. SMRs also offer enhanced safety features, scalability and the ability to be deployed in a variety of settings, making them ideal for replacing fossil generation and providing reliable, carbon-free power.

Recognizing the potential of SMRs, various companies and organizations are investing in these innovative technologies to meet policy requirements and achieve their sustainability goals. For instance, Google has partnered with Kairos Power to support the first commercial deployment of Kairos Power’s reactor by 2030 and a fleet totaling 500 MW of capacity by 2035. This partnership aims to accelerate the development and deployment of advanced nuclear technologies, contributing to Google’s 24/7 carbon-free energy and net-zero goals.

Similarly, Amazon has signed agreements to support the development of several new SMRs as part of its plan to transition to carbon-free energy. These projects include the construction of SMRs by Energy Northwest and investments in X-energy’s advanced nuclear reactor design. These initiatives demonstrate the growing interest and investment in SMRs as a viable solution for meeting the increasing energy demands while reducing carbon emissions.

Another organization that’s making significant strides in the deployment of SMRs is Rolls Royce. The company signed a Memorandum of Understanding with ULC-Energy BV to support the deployment of a fleet of Rolls-Royce SMRs in the Netherlands. These reactors are designed to provide consistent baseload generation for at least 60 years, with 90% of the SMR being built in factory conditions, which significantly reduces project risk and shortens construction timelines.

These investments by leading companies and organizations highlight the growing confidence in SMRs as a key component of the evolving energy landscape. By leveraging advanced nuclear technologies, they are not only addressing the challenges of decarbonization and grid reliability but also paving the way for a more sustainable and resilient energy system.

Learn More with Our Podcast

If you’re interested in learning more about the challenges and solutions in the energy sector, we invite you to listen to our podcast, Plugged In: Exploring Energy, hosted by Chuck Hanna, Vice President of Solutions and National Accounts at Constellation. In the first episode, we dive deeper into the topics covered in this blog, as well as additional topics including the impact of AI and data centers on electricity demand, the importance of developing nuclear technologies domestically for international partnerships and national security and the various industry-specific applications of microreactors. Tune in for our entire series to gain valuable insights and stay informed about the future of energy.

By addressing these challenges and offering custom solutions, Constellation is leading the way in the transition to a sustainable and reliable energy future. Join us on this journey and discover how we can help you achieve your energy goals.

Listen to the Podcast

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the blog and podcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Plugged In Podcast: Navigating the Future of Nuclear Energy appeared first on Constellation's Energy4Business Blog.

]]> Alex Aguiar https://blogs.constellation.com/roadmap-to-sustainability/reducing-your-carbon-footprint-with-recs-and-efecs/ Thu, 31 Oct 2024 15:50:40 +0000 https://blogs.constellation.com/sustainability/efficiency-upgrades-implementing-energy-savings-projects-copy/ As we continue our series exploring strategies organizations can implement to reduce their carbon footprint, this post explores the next...

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As we continue our series exploring strategies organizations can implement to reduce their carbon footprint, this post explores the next steps in the sustainability journey by evaluating organizations’ energy sources and ways to mitigate emissions through decarbonization.

While decarbonizing your organization’s energy supply may seem daunting, there are a variety of options to consider. Your organizational objectives should inform whether your plan focuses on renewable energy supply, supply from carbon-free non-renewable resources, or a combination of both. With guidance from an energy supplier, your business can navigate the energy solutions that can help decarbonize your organization’s energy supply, a crucial step towards meeting your overall environmental goals.

Choose Carbon-Free Energy Sources

Emission-Free Energy Certificates (EFECs) allow businesses to quickly begin their process towards achieving and claiming lower emissions. EFECs represent one megawatt-hour (MWh) of electricity generated from an emission-free source, typically nuclear energy. By purchasing EFECs matching all or a portion of your organization’s electricity usage, your organization is supporting emission-free generation sources, while reducing emissions associated with its annual electricity usage. This is an especially effective solution for:

• Organizations that are not well-positioned to source their power from onsite renewable sources based on land or capital limitations
• Organizations that do not have a specific sustainability roadmap established but want to communicate their incremental efforts and impacts
• Assisting your company in meeting goals for lowering emissions associated with its annual electricity consumption^{1, 2}

Champion Carbon Reduction

Another option is by matching all or a portion of your organization’s annual electricity usage with Renewable Energy Certificates (RECs). RECs serve as a way to incentivize renewable energy generation and support the development of clean energy projects. They provide a means for businesses, organizations and individuals to claim the environmental benefits of renewable energy without having to physically consume the electricity generated from renewable sources. Each REC represents the environmental benefits of one megawatt-hour (MWh) of electricity generated by a renewable power plant and is retired on behalf of your environmental commitment.

RECs can be purchased as a block or a percentage of your electricity supply to match a percentage of your organization’s annual energy use and allow you to claim a reduction in “Scope 2” greenhouse gas (GHG) emissions from electricity use, while supporting facilities that generate clean, renewable energy.^{1, 2}

For example, NewMix® RECs purchased are sourced from wind and/or solar energy facilities in the lower 48 states.

Choose your Purchasing Strategy

RECs and EFECs can be bought as either load following or block purchases. Load following purchases match every unit of electricity consumed by the organization with an equivalent amount of renewable or carbon-free energy generated and added to the grid. The organization receives a REC or EFEC for each unit of renewable or carbon-free energy generated, which can be used to match a percentage (up to 100% in certain cases) of greenhouse gases. This ensures that the organization’s electricity usage is directly matched by the generation of renewable or carbon-free energy.

With some timing and deadline limitations, a customer may purchase REC or EFEC blocks to match historical consumption and/or they can purchase REC or EFEC blocks to match expected or projected volumes.

For example, a company could be hosting a conference and want it to be powered by sustainable energy. It can buy a block of REC or EFECs for the duration of the conference. For example, an organization would look to purchase an 800 MWh block of EFECs for the conference.

Another example would be a company that wants to meet its sustainability goals, estimating it uses 3,000 MW a year based on its historic load. The company can buy a block of RECs or EFECs for that amount and then buy more, if needed, towards the end of the year.

Take Action Today

Both products provide flexibility to meet regulatory requirements or voluntary sustainability goals. RECs and EFECs can be purchased, transferred and tracked easily and reliably.

“While investing in RECs or EFECs comes with a small incremental cost, it creates the opportunity for a business to quickly indicate to its customers and shareholders that it has started the process toward achieving sustainable practices.”  – Raj Bazaj, Vice President of Sustainability Solutions, Constellation

No matter how your organization leverages available carbon reduction options, when it comes to your company’s commitment to decarbonization, feel free to begin incrementally and progress at the speed and complexity needed to help achieve your corporate efficiency commitments. RECs or EFECs offer a method for organizations to begin decarbonization of their energy supply, while working toward fully carbon-free energy supply through offsite renewable purchases or hourly carbon-free energy matching.

Ready to work with energy experts who have the tools to easily connect your energy usage to your sustainability goals? Constellation can help your organization set a pathway to a more sustainable future.

.

Contact Us Today

Learn more about building your sustainability roadmap with our new white paper.

Download our White Paper

Interested in reading our previous posts in this series? We’ve explored critical foundations like establishing your GHG emissions baseline to understand your current footprint, connecting energy usage to business goals to drive reductions, and implementing energy efficiency to reduce consumption. With the foundational strategies from these four blogs, your business should be well equipped to continue your business’s sustainability journey.

¹ Check your GHG reporting protocols to confirm.

² Based on current World Resources Institute (WRI) guidance. Scope 2 reporting claims of this product may be affected by future changes.

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. 

The post Reducing your Carbon Footprint with RECs and EFECs appeared first on Constellation's Energy4Business Blog.

]]> Alex Aguiar https://blogs.constellation.com/sustainability/emissions-reporting-legislation-for-business/ Tue, 29 Oct 2024 13:21:36 +0000 https://blogs.constellation.com/energy-management/webinar-analysts-hurricane-season-natural-gas-fundamentals-and-capacity-market-updates-copy/ Sustainability is a growing trend impacting both individuals and businesses, with over 23,000 companies disclosing their carbon reduction performance to...

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Sustainability is a growing trend impacting both individuals and businesses, with over 23,000 companies disclosing their carbon reduction performance to the Carbon Disclosure Project and 6,000 companies committing to science-based targets. Beyond voluntary disclosures, there has been an increase in legislation from the federal, state and local levels that has led businesses to assess and evaluate their emissions and energy consumption. Constellation’s Sustainability Management Group and Constellation Navigator division held a webinar discussing the impacts that this legislation has on businesses.

Green City Mandates

Constellation’s sustainability experts kicked off the webinar discussing the ever-growing list of Green City Mandates. Given the increasing severity of the climate crisis, the Federal U.S. Government has committed to achieve a net zero goal by 2050 under the Paris Agreement. In response, many large cities in the U.S, where commercial and industrial buildings account for about 40% to 80% of a city’s emissions, have also begun to develop climate action plans to reduce their carbon footprint. A common initiative among these cities is the implementation of building emission mandates or ordinances, often referred to as “Green City Mandates.” The team discussed a handful of cities that have made climate plans as aggressive as the federal government. They also discussed how cities are benchmarking large buildings’ Energy Use Intensity (EUI), different strategies that buildings can leverage and the potential financial penalties for non-compliance.

California State Senate Bills 253 and 261

Beyond localized, building-level mandates, other regulations, such as California Senate Bill 253 and 261, made California the first U.S. state to introduce statewide legislation specifically targeting greenhouse gas (GHG) emissions reporting at the organizational level. California State Bills 253 and 261 impose stringent new requirements on large companies doing business in California to publicly report their annual GHG emissions and climate-related financial risks. Senate Bill 253 requires entities with total annual revenues of $1 billion or more that do business in California to report their GHG emissions annually. The bill does not define what it means to “do business in California,” but the state tax code defines this term as engaging in any transaction for financial gain within California, being organized or commercially domiciled in California, or having California sales, property or payroll that exceed specified amounts. Senate Bill 261 requires companies with over $500 million to prepare a climate-related financial risk report biennially and make it publicly available on their websites.

The California Air Resources Board (CARB) will be developing final requirements for disclosure, and reporting entities must publicly disclose their prior fiscal year’s Scope 1 and 2 GHG emissions with limited third-party assurance starting January 1, 2025. By January 1, 2026, entities must also prepare a climate-related financial risk report and make it publicly available, with third-party assurance evaluation for Scope 3 emissions being discussed currently.

The webinar emphasized that Senate Bill 253 and 261 require third-party auditors to verify and certify the data reported by organization. This verification process ensures the accuracy and reliability of the reported energy consumption, carbon emissions and other building characteristics.

Take Action Today

Constellation offers solutions tailored to different cities’ mandates, as the requirements can vary significantly. For example, a solution that is effective for a building in Boston may not produce the same results for a building in Chicago. Constellation’s expertise in navigating these differences and providing customized solutions can be a significant advantage for businesses looking to comply with emissions reporting legislation.

Gain valuable insights from Constellation’s expert panel and the audience Q&A in the webinar below.

 

View Webinar Recording

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Emissions Reporting Legislation for Business appeared first on Constellation's Energy4Business Blog.

]]> Amanda Donohue https://blogs.constellation.com/energy-management/webinar-analysts-hurricane-season-natural-gas-fundamentals-and-capacity-market-updates/ Fri, 25 Oct 2024 14:21:17 +0000 https://blogs.constellation.com/energy-management/webinar-analysts-a-record-setting-pjm-auction-copy/ During the October Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant...

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During the October Constellation monthly Energy Market Intelligence Webinar, Constellation’s Commodities Management Group (CMG) provided comprehensive coverage of various significant factors affecting the energy landscape. The webinar featured discussions on current drivers of energy market prices including recent hurricane impacts, recent rate cuts by the Fed, natural gas fundamentals and oil markets

Weather Report

The team kicked off the webinar by covering important weather forecasts and insights, discussing the current hurricane season, which has 13 named storms so far, with five making landfall in the United States. This hurricane season was highlighted as having an unusual, including the first Category 5 hurricane recorded in June and the longest stretch of quiet period in over 50 years. The team also discussed an outlook for the remainder of the hurricane season and the upcoming winter, predicting a mild winter dominated by a weak La Niña pattern.

All Things Economic

Chief Economist, Ed Fortunato, shared insights on the economy, focusing on interest rates, energy impacts and the Federal Reserve’s actions. The recent 50 basis point rate cut by the Federal Reserve and its implications for the economy were highlighted, along with the strong performance of the equity markets, driven by AI and a broader-based rally. Fortunato also discussed the impact of energy production and consumption on the economy, noting that U.S. oil production has been rising while China, the largest importer of oil, has been experiencing a slowdown.

Natural Gas Fundamentals

Constellation’s energy market experts then analyzed the factors influencing natural gas prices. They noted that natural gas production is holding steady in the 101-102 Bcf/d range, with some cutbacks by Gulf of Mexico producers. Although there have been several below-average injections, the forecasts for end-of-season storage inventory have not changed significantly. The team also discussed the impact of higher oil prices on natural gas supply, suggesting that increased oil production in the Permian Basin could lead to higher associated natural gas production.

Fiscal conservatism continues to guide producers as they await a market signal. Space heating demands and a decline in storage could boost prices enough to encourage an increase in drilling activity, which would be a bearish influence. The U.S. is expected to begin the heating season with a comfortable amount of gas in storage, and a winter forecast suggesting heating demand may fall below average. If the La Niña conditions continue, we may end the winter with more than 2 Tcf remaining in storage.

Oil Markets

Recent developments in the oil markets include the impact of geopolitical events on oil prices. The announcement that Israel would not attack Iranian oil production facilities led to a drop in prices. However, a larger threat to global supply lies in the potential for shutting down the Straits of Hormuz. The U.S., while being the world’s largest producer of crude oil, still imports approximately 6 million barrels per day, with only 1 million barrels per day coming from OPEC. This means that troubles in OPEC are much more muted for the U.S. than in the past.

Capacity Markets

The team commented on recent capacity markets developments, focusing on PJM and noting the recent six-month delay requested by PJM to FERC for the 2026/’27. They discussed the challenges associated with these changes and urged market participants to continue to follow news developments. PJM’s site Inside the Lines (https://insidelines.pjm.com/) remains an excellent source for news on market developments.

Market Trends and Temperature

The team concluded the webinar by looking at forward power charts, the “Market Temperature,” and other factors affecting the energy market.

View Webinar Recording

 

We invite you to join us for our next Energy Market Intel Webinar on Wednesday, November 20 at 2 pm ET. Constellation energy experts will offer detailed and timely updates on factors affecting energy landscape such as weather, natural gas storage and production, and domestic and global economic conditions. Register by visiting  www.constellation.com/marketintelwebinar.

 

© 2024 Constellation. The offerings described herein, if applicable, are those of either Constellation NewEnergy, Inc. or Constellation NewEnergy-Gas Division, LLC, affiliates of each other. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved.  The views, thoughts and opinions expressed in the webcast by each participant belong solely to the speaker and not necessarily to the speaker’s employer (including Constellation Energy Corporation or any of its affiliates), organization, committee or other group or individual. Constellation does not make and expressly disclaims, any express or implied guaranty, representation or warranty regarding any opinions or statements set forth herein or in the webcast. Constellation shall not be responsible for any reliance upon any information, opinions, or statements contained in the webcast or for any omission or error of fact.

The post Webinar Analysts: Hurricane Season, Natural Gas Fundamentals and Capacity Market Updates appeared first on Constellation's Energy4Business Blog.

]]> Alex Aguiar https://blogs.constellation.com/sustainability/leading-the-way-in-corporate-renewable-energy-solutions/ Thu, 03 Oct 2024 12:36:19 +0000 https://blogs.constellation.com/energy-management/how-to-leverage-rebates-for-energy-efficiency-projects-copy/ In today’s energy landscape, an increasing number of businesses are looking for ways to reduce their greenhouse gas emissions, support...

The post Leading the Way in Corporate Renewable Energy Solutions appeared first on Constellation's Energy4Business Blog.

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In today’s energy landscape, an increasing number of businesses are looking for ways to reduce their greenhouse gas emissions, support their sustainability strategies and mitigate their energy pricing risk. Renewable energy procurement has been a key solution for many businesses striving to achieve these goals. According to the Clean Energy Buyers Association, renewable energy purchases by commercial and industrial customers surged to nearly 17 GW in 2022, a 172% increase since 2018.

Constellation has been at the forefront of this transition, simplifying and scaling access to offsite renewables through Constellation’s Offsite Renewables (CORe) program. CORe enables customers to support the development of new wind or solar projects that feed power into the grid and match their usage through a simple retail renewable energy contract. Constellation handles the most complicated aspects of the process, including sourcing viable projects, conducting analytics, negotiating PPAs and structuring the transactions – making the process easier for customers.

In this first blog in our corporate renewable energy series, we discuss our innovative solutions and their impact on supporting local communities and matching usage to carbon-free sources.

Constellation’s Next Wave of Renewable Energy Products

After establishing the CORe program, Constellation recognized additional challenges customers faced in procuring renewable energy. It committed to establishing innovative products to help even more customers access clean power, support local communities and match their usage to carbon-free sources.

Expanding access to offsite renewable energy

Constellation recognized the challenges small- and medium- sized businesses faced while looking to purchase renewable energy, including high credit standards, time and resource constraints, and access to renewable projects. Constellation is developing new offerings to allow more commercial businesses to commit to their sustainability journeys and overcome these barriers by:

• Purchasing portions of CORe projects in smaller increments.
• Significantly reducing the minimum energy commitment.

Impact PPAs for local communities

To deliver broader community benefits in addition to clean power, Constellation developed an impact PPA model, which expands the benefits of the large offsite renewable energy projects they support to local communities. Under the impact PPA model, Constellation and the project developer:

• Dedicate a portion of revenues to fund initiatives such as workforce training, education and job placement assistance in underserved communities.
• Tailor these programs based on the project location, company location and needs of the residents.
• Expand renewable energy careers to underrepresented groups, provide the training needed while strengthening local inclusion and enabling renewable energy expansion.

This model was designed for broad application across various industries and projects, ensuring that community benefits and support are consistently delivered in every market. For a real-world example of how impact PPAs can benefit local communities, read about our collaboration with the City of Chicago, which highlights the city’s renewable energy commitment and workforce development.

Hourly carbon-free energy matching for real-time performance

Constellation developed an hourly matching product, leveraging Microsoft technology, to pair customer usage with carbon-free and renewable sources on an hour-by-hour basis. The hourly carbon-free energy matching product combines Constellation’s expertise in generation and supply management with advanced data analytics to deliver a comprehensive solution that empowers businesses to:

• Gain visibility into hourly energy supply and emissions on the local grid.
• Receive recommendations on supply strategies and investments to reduce carbon impact.
• Track progress towards achieving hourly carbon-free energy matching.

Powered by advanced and reliable data tracking and analytics that match a customer’s real-time energy usage to the grid’s generation mix, businesses can easily understand their performance and emissions rates and identify the most impactful steps for improvement.

Take Action Today

Ready to revolutionize your renewable energy strategy while effectively managing risks and costs? Reach out to Constellation to get started on the path to a more sustainable future. Plus, stay tuned for our upcoming deep dives into the solutions highlighted in this blog as we progress through our corporate renewable energy series.

Contact Us Today

 

Learn more about how you can leverage Constellation’s expertise to shape your energy strategy.

 

Download White Paper

 

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