Constellation, Exelon seek approval from Md. energy regulators

Company files Exelon merger application with Public Service Commission

May 25, 2011|By Hanah Cho, The Baltimore Sun

Constellation Energy Group filed an application Wednesday with Maryland energy regulators to seek approval of its sale to Chicago-based Exelon Corp.

In a 572-page application, Constellation and Exelon make their case for the $7.9 billion deal, which would create the largest competitive power supplier in the United States. The combined company would have headquarters in Chicago, but officials say the new entity would have a significant presence in Baltimore.

The two companies have offered a $250 million incentive package, which includes a $100 credit for each customer of Constellation's regulated utility, Baltimore Gas & Electric Co.

The Maryland Public Service Commission is expected to hold hearings to examine the deal; it has 180 days under state law to make a decision.

The two companies also are seeking approval from the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission, the New York State Public Service Commission and the Public Utility Commission of Texas.

The companies plan to seek shareholder approval for the deal in the third quarter.

Hanah.cho@baltsun.com

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