Constellation

Baltimore made the newest Fortune 500 list by the skin of its teeth — with a company that was based here last year but is now part of an out-of-state concern. Constellation Energy Group, which merged with Chicago-based Exelon Corp. in March, is No. 199 on Fortune magazine's 2012 list of the country's largest companies. The list is calculated using 2011 information. Five other companies from Maryland made the list, all from Montgomery County: defense contractor Lockheed Martin (No. 58)

Mayo A. Shattuck IlI -- who successfully engineered the sale of Constellation Energy Group to Chicago-based Exelon Corp. – took in $17.3 million in total compensation last year, a nearly 11 percent increase from 2010. Shattuck's base salary of $1.3 million was unchanged from a year earlier. He received no cash incentive payment last year, compared with a $1.7 million payout in 2010. The compensation package, which the company reported Friday, includes additional payouts in stocks, options and the value of his pension.

While Constellation Energy Group has a new owner in Exelon Corp., 450 workers at three coal-fired plants once owned by the Baltimore company are in limbo. As a condition of its purchase of Constellation last month, the Chicago energy giant has committed to selling the Brandon Shores and H.A. Wagner plants in Anne Arundel County and the C.P. Crane plant in Baltimore County by the end of the year. The sale is not expected to be easy, because the economic prospects for coal plants have dimmed, given falling natural gas prices and stricter air-quality regulations due to come online over the next few years, analysts said.

BGE's 1.1 million residential customers will get a nice surprise in their May bill: a $100 credit on their accounts. Baltimore Gas and Electric Co. announced Friday that most customers will receive the credit by the end of May. The ratepayer relief is part of the merger between BGE's parent Constellation Energy Group and Chicago-based Exelon Corp. The two companies agreed to provide the rate credit under an agreement with Maryland energy regulators, which approved the deal in February.

The Full Pink Moon should be in view all night. Other common names for April's full moon are the Egg Moon, Sprouting Grass Moon or Easter Moon, according to EarthSky.org. Easter Sunday falls on the first Sunday after the first full moon of spring in the Northern Hemisphere. The moon will be flanked to its left by Spica, the brightest star of the constellation Virgo, as well as Saturn as it rises in the east sky.

The $245 million settlement that Baltimore's Constellation Energy Group agreed to pay is the largest of its kind to resolve allegations of market manipulation with the Federal Energy Regulatory Commission. Details of the settlement emerged Monday, the same day Chicago-based Exelon Corp. closed on its $7.9 billion takeover of Constellation. The sale creating the largest non-utility energy provider in the United States ushers Baltimore's last Fortune 500 company out of town. The New York Stock Exchange will de-list Constellation shares Tuesday.

Constellation Energy Group and Exelon Corp. are expected to close their $7.9 billion merger Monday, after the deal cleared its final regulatory hurdle Friday. The approval by the Federal Energy Regulatory Commission ends an almost yearlong effort to combine the companies — creating the largest non-utility energy provider in the United States. The deal also means that Baltimore will lose its last Fortune 500 company; the new company will be headquartered in Chicago but will maintain a large footprint here, including a new building in Harbor Point.

Constellation Energy Group, which is being sold to Chicago-based Exelon Corp., will be replaced on the S&P 500 index by a Houston wireless company. Exelon is acquiring Constellation in a $7.9 billion deal that is waiting for approval from the Federal Energy Regulatory Commission. S&P will announce the date when Crown Castle International Corp. is to replace Constellation on the index after the merger deal closes. Hanah.cho@baltsun.com Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

Constellation Energy Group's three directors have been named to serve on Exelon's board of directors once the merger between the two energy giants is completed Constellation Energy Group's three directors have been named to serve on Exelon's board of directors once the merger between the two energy giants is completed, according to documents filed Wednesday. Ann C. Berzin, a Constellation director since 2008; Yves C. de Balmann, a director since 2003; and Robert J. Lawless, a director since 2002, are to join Constellation Chief Executive Officer and Chairman Mayo A. Shattuck III, who was previously named as executive chairman of the board.

Constellation Energy Group, which is selling itself to Exelon Corp., reported a loss Friday in the fourth quarter, what is expected to be the energy giant's last earnings release as a publicly traded Baltimore company. Its earnings came out before the Maryland Public Service Commission approved the proposed $7.9 billion proposed merger between Constellation and Exelon, contingent on several dozen conditions. It lost $583.6 million, or $2.91 per share, in the three months ended Dec. 31, compared with a profit of $159.8 million, or 80 cents per share, in the corresponding period the previous year.