Constellation announces further plans to boost liquidity

Constellation Energy has reported a third quarter loss and announced plans to sell its downstream gas trading operations in an additional bid to increase its liquidity position.

Constellation reported adjusted earnings of $0.76 per share for the third quarter of 2008, down from $1.45 in the same period last year. The company blamed the results on recent measures “to reduce earnings at risk and decrease our exposure to incremental collateral posting” since its merger announcement with MidAmerican on 19 September 2008.

In a bid to increase liquidity, the company has also announced the intention to sell its Houston-based downstream gas trading operations. According to

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