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NEWS
September 22, 2011
The sale (it's not a merger, really) of Constellation Energy Group and Baltimore Gas and Electric to Exelon is ill advised and misguided ("Sweeteners sought in energy merger," Sept. 21). It is to the detriment of Maryland customers. It is difficult for residents served by an in-state utility to have to deal with an out-of-state entity for service. This sale is a disadvantage for the people of Maryland and to the great advantage of the executives of BGE and Constellation. We know Constellation CEO Mayo A. Shattuck III's payout will be extraordinary, as it was when he rid Maryland of Alex Brown.
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BUSINESS
By Hanah Cho and Liz F. Kay, The Baltimore Sun | September 20, 2011
As Constellation Energy Group prepares to sell itself to Chicago-based Exelon, critics are advancing proposals to make the deal more palatable to Maryland customers. The state's consumer advocate is proposing a three-year freeze on rate increases after the merger to ease the transition to out-of-town ownership. The Maryland Energy Administration is questioning whether the $100 credit the companies have proposed for Baltimore Gas and Electric Co. customers is enough, given the savings the companies expect to realize from the merger.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 19, 2011
The O'Malley administration is asking state regulators to reject Constellation Energy Group's plan to sell itself to Chicago-based Exelon Corp. unless the companies provide greater assurance that the new owner can deliver reliable service to Maryland customers. The Maryland Energy Administration also raised concerns about the merged company's exposure to the nuclear energy business, and said it should develop more than 10 times as much state-based renewable energy resources than Constellation and Exelon have promised.
NEWS
September 2, 2011
It is all about money. Years ago, Baltimore Gas & Electric Co. under Constellation Energy Group cut their field workforce to as few humans as possible and then subcontracted much of their field work to electrical contractors. Any county government executive complaining to the legislature might as well be talking to the wall. The utilities have their lobbyist who with campaign contributions have no fear of any legislative action. BGE/Constellation top management are only interested in how big their payday is going to be when the merger takes place with Exelon Corp.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 1, 2011
Baltimore Gas and Electric Co. will face questioning from state regulators over its response to power outages caused by Hurricane Irene after a chorus of criticism from angry customers and public officials. The Public Service Commission, the state's top energy regulator, said it would hold hearings next month to evaluate the performance of BGE and other utilities in the state in the storm's aftermath. The prolonged outages come as BGE's parent company, Constellation Energy Group, is trying to win regulatory approval of its $7.9 billion sale to Chicago-based Exelon Corp.
BUSINESS
By Hanah Cho, The Baltimore Sun | August 17, 2011
Gov. Martin O'Malley appointed Kevin Hughes and Kelly Speakes-Backman on Wednesday to fill vacancies on the Maryland Public Service Commission. The appointments come as the state's energy regulatory body prepares to tackle several important cases later this year, including the proposed sale of Constellation Energy Group to Chicago-based Exelon Corp. in a $7.9 billion deal. Hughes has served as O'Malley's deputy legislative officer since 2007, focusing on energy policy, among other issues.
BUSINESS
By Hanah Cho, The Baltimore Sun | August 9, 2011
A critic of Constellation Energy Group's proposed merger with Chicago-based Exelon Corp. wants the two firms to provide $810 million in incentives to Maryland ratepayers and other stakeholders as part of the power companies' deal. The proposal by Good Jobs Better Baltimore is more than three times the $250 million incentive package Constellation and Exelon have offered to convince Maryland lawmakers, ratepayers and regulators that the $7.9 billion deal is in the public's interest.
NEWS
July 15, 2011
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?
BUSINESS
By Hanah Cho, The Baltimore Sun | July 14, 2011
Exelon Corp., which has agreed to acquire Constellation Energy Group in a $7.9 billion deal, is seeking information on available commercial space in downtown Baltimore that could house the combined company's competitive power and "green" energy businesses if the transaction goes through. Chicago-based Exelon has hired Studley, a commercial real estate services firm in Washington, to obtain general specifications of available space from local commercial developers and brokers, according to a request for information document sent by Studley in recent days and obtained by The Baltimore Sun. "It's early in the process, and we're looking forward to gathering as much information and input as possible," Exelon spokeswoman Judith Rader said Thursday.
BUSINESS
By Hanah Cho, The Baltimore Sun | June 28, 2011
State energy regulators have scheduled an October start for hearings to consider Constellation Energy Group's deal to sell itself to Chicago-based Exelon Corp. On Tuesday, the Maryland Public Service Commission scheduled evidentiary hearings to begin on Oct. 31 and continue until Nov. 10 for a total of nine days of hearings. The public will have opportunities to comment on the proposed merger worth $7.9 billion at three evening hearings: Nov. 29, Dec. 1 and Dec. 5. The PSC set a Jan. 5 deadline to make a decision.
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