Md. House OKs bill to let BGE form a holding company

March 12, 1998|BY A SUN STAFF WRITER

The Maryland House of Delegates gave its approval yesterday to legislation that would allow Baltimore Gas and Electric Co. to form a holding company, a measure the company says it needs to retain its competitive flexibility.

The bill passed on a vote of 102 to 23. An identical measure is pending in a Senate committee.

Several delegates spoke against the bill, saying it could potentially allow the company to merge with other holding companies without scrutiny by state regulators.

But the bill's proponents said the state Public Service Commission would be able to review such mergers.

Pub Date: 3/12/98

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