PRICING SUPPLEMENT NO. 5
Dated December 12, 2003 to
Prospectus Supplement dated May 21, 2003
  Filed Under Rule 424(b)(3)
Registration File
No. 333-59601-99 and 33-57658

CONSTELLATION ENERGY GROUP, INC
Common Stock
Continuous Offering Program

        This Pricing Supplement describes our issuance of shares of stock through Citigroup Global Markets Inc., as agent.

Reporting Period:   December 8—December 12, 2003

Total Number of Shares:

 

171,000

Gross Proceeds:

 

$6,399,370.50

Agent Commission:

 

$8,550.00

Other Charges:

 

$299.69

Net Proceeds to Company:

 

$6,390,520.81

Shares Registered

 

3,731,000

Shares Remaining to be Issued
after above issuances

 

737,200