Constellation Energy Group

A deal to transfer Constellation Energy Group's stake in a nuclear development company to its French partner is scheduled to close Nov. 3, according to documents filed Thursday with the Securities and Exchange Commission. On Tuesday, Constellation agreed to sell its 50 percent stake in Unistar Nuclear Energy to EDF Group for $140 million, giving EDF sole ownership of the joint venture and its plans to develop the third unit at Calvert Cliffs in Southern Maryland. The deal revived hopes for the project's future, which was thrown into doubt when Constellation withdrew this month from negotiations with Obama administration officials over a federal loan guarantee deemed crucial to build the $9.6 billion reactor.

Maryland energy regulators have added at least two more days to their review of Constellation Energy Group's plans to sell itself to Chicago-based Exelon Corp. The move brings the number of days allotted for evidentiary hearings to 11. The hearings are to begin Oct. 31. With 45 witnesses expected to testify, the Maryland Public Service Commission on Tuesday told the parties in the case to add Nov. 11 and 18 to their calendar. The commission also has set aside Nov. 21 and part of Nov. 22 if more time is needed, PSC spokeswoman Regina Davis said.

Baltimore Gas and Electric Co. became the nation's first electric utility yesterday to win relicensing of its nuclear power plant. The U.S. Nuclear Regulatory Commission voted unanimously to extend the life of the Calvert Cliffs Nuclear Power Plant in Southern Maryland for another 20 years. Calvert Cliffs' original operating licenses would have expired in 2014 for Unit 1, which began operating in 1974, and in 2016 for Unit 2, which began operating in 1976. The license renewal moves the dates to 2034 and 2036, respectively.

Constellation Energy Group and McCormick & Co. have announced an agreement to develop a single rooftop solar installation that will have the largest capacity of any statewide, Constellation announced Thursday. Construction on the 1.8-megawatt solar photovoltaic power system should begin at McCormick's Belcamp distribution center in June and is expected to be completed by the end of 2010. Constellation will finance the project and will own and maintain the solar system for 20 years.

If anyone is wondering why American jobs are being shipped overseas "because the costs are lower," you need only look at what we are paying our CEOs versus what over countries are paying theirs. According to a recent letter writer, while we are paying our CEOs an average of 340 times the median salary of a worker, Japanese CEOs make 10 times what their workers earn ("Is an American CEO worth 10 times a British one?" July 13). How hard is it to understand why Japanese cars are less expensive than American cars?

Constellation Energy Group said Monday that it had completed a deal to buy CPower, an energy management and demand-response company. Demand-response programs encourage electricity customers to reduce consumption during times of peak use. With the addition of CPower, Constellation now manages 1,500 megawatts of demand-response capacity. The terms of the deal were not disclosed. Separately, Constellation is one step closer to purchasing five power plants in the Boston area after a bankruptcy judge on Saturday approved the Baltimore company's starting bid of $1.1 billion in the auction of those assets.

Constellation Energy Group said Monday that it had terminated a deal to sell its Quail Run natural gas plant in West Texas to a municipal utility in that state. The deal was contingent on the High Plains Diversified Energy Corp. obtaining financing through the sale of municipal bonds. The deal had been worth $185.3 million. With the sale termination, Constellation will retain ownership of the plant. Separately, Maryland energy regulators have scheduled a hearing on June 28 to determine a schedule to review Constellation's deal to sell itself to Chicago-based Exelon Corp.

Maryland energy regulators on Tuesday extended the deadline to Feb. 2 for public comment on Constellation Energy Group's plan to sell itself to Exelon Corp. The initial public comment period closed Dec. 9, but Exelon agreed a week later to a settlement with the state and Gov. Martin O'Malley over the proposed merger. As a result, the Maryland Office of People's Counsel, the consumer advocate in utility matters, said the public has not had an opportunity comment on that settlement and requested an extension for filing written comments.

Constellation Energy Group, which agreed last week to sell itself to Chicago-based Exelon Corp., said Monday that it acquired a 30-megawatt solar project in Sacramento, Calif. The acquisition adds to Constellation's growing fleet, bringing the total to 95 megawatts of solar installations that the company owns and operates. Financial terms were not disclosed. Constellation bought the project from photovoltaic power plant developer Belectric, Inc. The project will comprise of about 381,000 thin-film photovoltaic panels and mounted on the ground at multiple sites near Sacramento.

In its latest effort to grow its residential power business, Constellation Energy Group said Friday that it agreed to buy Houston-based StarTex Power for $142.5 million. The purchase gives the Baltimore company a presence in Texas, considered the most active competitive residential market in the country, and comes two weeks after Constellation acquired a Connecticut gas and electricity provider. StarTex Power has about 170,000 residential customers, while MXenergy gives Constellation more than 500,000 customers in 15 states and two provinces in Canada.