But Sen. Thomas M. Middleton, a Charles County Democrat who is chairman of the Finance Committee, said that disputes over the 1999 deal, which some have said was lopsided in favor of Constellation, would be "put to rest." He also said Constellation's proposal to build a nuclear power plant in Maryland would help the state address an impending energy crisis with clean, cheap electricity.
"Now [Constellation is] in a better position to go to the market to borrow the money that they need in order to build this plant and other plants," Middleton said.
Del. Brian K. McHale, a Baltimore Democrat, said the most significant part of the settlement is Constellation's concession to accept financial liability for shutting down Calvert Cliffs by 2036.
"That liability is now going to be removed," said McHale, who opposed the 1999 legislation that deregulated the industry and allowed BGE to build decommissioning costs into utility rates.
Del. Warren E. Miller, a Howard County Republican, called the $170 per-household refund "better than nothing," but he discounted the settlement as a political victory for O'Malley.
"I think he still has to explain to ratepayers why there was a 72 percent increase" in utility rates, Miller said.
Some consumers were unimpressed by the settlement. Elizabeth Barrett of Annapolis said it was small compared with the increase in rates.
"My bill has gone sky high," said Barrett, 67, a children's choral director. "A hundred seventy dollars does not even make the difference in one month's bill for me."
paul.adams@baltsun.com laura.smitherman@baltsun.com
Sun reporter Gadi Dechter contributed to this article.
Settlement highlights
$170 one-time credit for BGE ratepayers by December
Caps at $3.7 billion a ratepayer fund to shut down the two Calvert Cliffs nuclear reactors by 2036
Ratepayers would keep 90 percent of the $386 million in credits the legislature ordered the company to pay in 2006
Ends all Public Service Commission investigations into BGE and Constellation related to the 1999 deregulation deal
Each side would drop lawsuits against the other
[Sources: State officials, Constellation]
