Recognized for superior operational and financial results as well as increased productivity and shareholder returns, Constellation Energy and Entergy Corp. were named yesterday as the 2005 winners of the electric power industry's highest honor, the Edison Award.

Given annually by the Edison Electric Institute (EEI), the prestigious prize is bestowed upon the U.S. shareholder-owned and international members that have made significant contributions to the advancement of the industry. A panel of current and retired CEOs selects the finalists and ultimate winners. This year's award, the 77th, was presented at EEI's annual convention in Las Vegas.

"Because of Constellation Energy and Entergy’s strong commitment to customers and shareholders alike, coupled with their willingness to develop and implement innovative business strategies, it is clear that their success is a direct result of two of this industry’s hallmarks—vision and ingenuity,” said EEI President Thomas R. Kuhn.

During the past three years, Constellation Energy has evolved from a US$3 billion regional regulated utility into a nearly $13 billion national energy company, and North America’s No. 1 supplier of energy to customers in competitive markets. In 2004, the company strengthened its competitive market position to 21%–more than 50% greater than its nearest competitor; listed 10,000 commercial and industrial customers, including two-thirds of FORTUNE 100 companies; and, achieved exceptionally high marks for customer loyalty and satisfaction.

Constellation Energy is the marriage of a large and diverse physical energy company with a world-class financial services organization, a combination that is ideally suited for competitive energy markets.

Entergy Corp., after turning the company around with its Back to Basics strategy in 1998, is now deploying an aggressive strategy to move Beyond the Basics in 2004. Building on improved productivity and shareholder return, the company also made significant investments in its core utility operations. This led to lower costs and reduced environmental impact, as well as improvements in customer service, reliability, and safety.

Entergy’s success has been demonstrated through its outstanding nuclear operations, leadership in new nuclear licensing and superior productivity in its unregulated fleet. Moreover, the company’s solid commitment to environmental stewardship and its leadership in helping low-income customers earned Entergy this prestigious honor. Entergy also won the 2002 Edison Award for business leadership and nuclear operational excellence.

“Constellation Energy and Entergy’s rare ability to anticipate what lies ahead and successfully adapt to a constantly changing industry is what sets them apart,” said Kuhn. “It is truly an honor to present these two companies with the 2005 Edison Award.”