Stock market's reaction appears contrary to BGE's hand-wringing


June 18, 2006

On the very day that the legislature was poised to vote the massive rate increase down from 72 percent to 15 percent, the stock on Constellation Energy went up $1.83 per share!

Now what would that tend to tell you? After all the hand-wringing that BGE might have its credit rating reduced as a result of the reduction, the stock market had a different view.

This was after the Dow has been dropping for days, and is now at the lowest since the year started and utilities were down 2.77 for the day.

I am glad all the Anne Arundel representatives to the legislature - save one, Janet Greenip - voted for the reduction.

I thank you one and all. Many times you get too involved in a doctrinaire approach instead of common sense and/or simple justice votes.

John J. Miara Pasadena

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