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BUSINESS
December 15, 2011
In a settlement with Gov. Martin O'Malley over the proposed buyout of Constellation Energy Group, Exelon Corp. has promised to develop significantly more natural gas, wind and solar power in Maryland, give more money to help low-income customers and provide more protections for Baltimore Gas and Electric. Provisions of the settlement include: •Up to 300 megawatts in new power generation in Maryland within 10 years. That includes: —10 megawatts to 25 megawatts from poultry manure plant, the first in the state.
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FEATURES
By Timothy B. Wheeler, The Baltimore Sun | February 3, 2014
Federal wildlife officials announced Monday they have approved measures taken at Maryland's first industrial wind energy project to reduce the risk of spinning turbine blades killing endangered bats and birds. Exelon Generation, which owns and operates the 28-turbine Criterion wind project built in 2010 in Garrett County, has pledged to "feather" or reduce the rotation speed of its turbines' blades during nighttime from late summer to early fall, peak bat migration time. The company also has agreed to install a protective gate over a bat cave in a neighboring state as mitigation for its turbines possibly killing one or more Indiana bats.
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BUSINESS
By Steve Kilar and The Baltimore Sun | September 24, 2012
Joseph Nigro, senior vice president  of portfolio management and strategy at Exelon Corp., and Melissa Nigro bought Michael Phelps' Fells Point condo in July for $1.25 million, according to court records and news reports. Phelps bought the townhouse in October 2007 for $1.69 million. The 4,000-square-foot condo is  in the 900-block of Fell Street and part of The Townhomes at the Crescent complex. The condo has a rooftop lounge with views of the Inner Harbor, two parking spots and a fireplace.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 2, 2013
Exelon Corp. said Monday that it plans to retire one of its electric generation units in Baltimore County within two-and-a-half years, citing the equipment's age as a key reason. The announcement comes as the Chicago-based energy company is ramping up plans for two new generation units in Harford County, one of the regulatory requirements of its 2012 acquisition of Baltimore's Constellation Energy Group. Exelon said Unit 4 at Riverside Generating Station, a 74-megawatt unit fueled by natural gas, was built 62 years ago and "is not economic to operate due to its age, the escalating costs of maintaining the unit, and declining revenues.
BUSINESS
Jay Hancock | February 1, 2012
Granted, the announced move of Constellation Energy/Exelon's new Baltimore headquarters around the Inner Harbor's northeast corner is not a quantum jump. Constellation's present location at 750 E.Pratt St. is already on the edge of downtown, furnishing walk-up patrons for restaurants in Little Italy and other eastern neighborhoods. The new HQ will be less than a mile away. But it will pull more energy from the downtown core and shift the balance of activity further eastward. Downtown landlords, who have lost tenants in the economic downturn, were already concerned about the planned redevelopment of State Center in midtown Baltimore, on their northern flank.
NEWS
February 13, 2013
I agree with letter writer Warren Updike that the power companies should pay for the upgrades to their infrastructure ("Let utilities pay for upgrades," Feb. 8). I am actually appalled that my delegates and senators have approved this measure. I agree that these upgrades are way overdue. Living near Herring Run Park, there has been an on-again, off-again leak near Argonne Drive. Instead of replacement, Baltimore Gas and Electric has done patchwork repairs and wasted a lot of gas. Exelon's acquisition of Constellation Energy must have taken into account these infrastructure upgrades in their decision.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 28, 2011
Marylanders may comment on the merger between Constellation Energy Group and Chicago-based Exelon Corp. at hearings scheduled in Bel Air, Baltimore and Annapolis. The Maryland Public Service Commission will entertain public comment at hearings in the Rotunda of Town Hall of Bel Air on Nov. 29, the Wohlman Assembly Hall of the War Memorial Building in Baltimore on Dec. 1 and the Joint Committee Hearing Room of the Department of Legislative Services Building in Annapolis on Dec. 5. All the hearings are scheduled to begin at 7 p.m. Residents may also send written comments to the commissioners by Dec. 9. Signed comments should be addressed to David J. Collins, Executive Secretary, Maryland Public Service Commission, William Donald Schaefer Tower, 6 St. Paul St., 16th Floor, Baltimore 21202.
BUSINESS
Jay Hancock | February 12, 2012
Among the many advantages Constellation Energy's headquarters gives Baltimore — Fortune 500 cachet, hundreds of well-paid workers, millions in charity — is this: The building pays sticker price on property taxes — $745,000 a year. You probably won't be able to say that about its replacement, which Exelon Corp. and developer John Paterakis propose to build at Harbor Point. Exelon is close to a deal to buy Constellation, which owns Baltimore Gas and Electric Co. Sensitive about seizing a Maryland corporate heirloom, Chicago-based Exelon promised to put the green energy and retail marketing divisions of the combined company in a new Baltimore building.
BUSINESS
By Hanah Cho, The Baltimore Sun | May 25, 2011
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.
BUSINESS
By Jay Hancock | March 14, 2011
Few things inspire financial journalists, stock analysts and investment bankers like rumors about corporate mergers and acquisitions. M&A action creates drama for the writers, bonuses for prescient analysts and huge fees for the bankers. So perhaps it's no shock that since December there has been background buzz about a possible takeover of Baltimore-based Constellation Energy Group by Chicago-based Exelon Corp. Energy shares are making a comeback. Constellation stock is missing the party.
NEWS
By Timothy B. Wheeler, The Baltimore Sun | November 14, 2013
The developer planning to build a new waterfront headquarters for Exelon Corp. on the site of a former chromium-processing plant assured Fells Point-area residents Thursday night that the Harbor Point project could be built safely without releasing the highly contaminated soil and groundwater entombed beneath the site. Speaking to about 100 people gathered at the Morgan Stanley brokerage building at Harbor Point, representatives of Beatty Development Group outlined steps they would take to prevent hazardous dust from being kicked up when crews excavate through the clean soil and plastic capping the contamination and drive 1,100 pilings into the ground.
FEATURES
Tim Wheeler | November 14, 2013
A public meeting tonight (Thursday) will give city residents a chance to ask questions about environmental safeguards for developing Harbor Point, a former factory site in Fells Point where toxic chromium remains entombed underground. The meeting , arranged by Councilman James B. Kraft, is to be held from 7 p.m. to 9 p.m. in the Morgan Stanley building at 1300 Thames St. The session, postponed from last month because of the federal government shutdown, will cover plans by Beatty Development Group to build a 22-story tower on the site of the former Allied chromium processing plant.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 8, 2013
Federal regulators investigating Exelon's Constellation commodities group say they have "preliminarily determined" that the division violated market-behavior rules. The brief notice, filed Friday by the Federal Energy Regulatory Commission, said only that the alleged violations involve not providing accurate information to a power grid operator, the California Independent System Operator. FERC declined to comment. Constellation, the Baltimore energy company bought by Chicago-based Exelon last year, downplayed the investigation.
NEWS
September 30, 2013
The Baltimore City Urban Design and Architectural Review Panel should agree to the request to redesign the Exelon Corporation building at Harbor Point made by the developer ("Developer proposes to convert some Exelon office space to apartments," Sept. 27) upon one condition - that they build the building higher! It has been decades since a skyscraper of significant height has been built in Baltimore City. Not only would a gleaming new tower be a reflection to the world that this city is on the move, but it would also conserve valuable downtown real estate.
NEWS
By Luke Broadwater, The Baltimore Sun | September 8, 2013
Baltimore Gas and Electric Company has awarded more than $400,000 to 46 area nonprofits that have initiatives dedicated to improving the environment. Of the nonprofits receiving the grants, 26 are in Baltimore City, including the Living Classrooms Foundation and Friends of Patterson Park; 10 are in Baltimore County, including the Catonsville Community Foundation; seven are in Anne Arundel County, including the Alliance for the Chesapeake Bay; and two are in Howard County, including the Howard County Conservancy.
NEWS
August 12, 2013
The Baltimore City Council is scheduled to hold at least preliminary debate on $107 million in tax increment financing for the Harbor Point development today, and whenever the final vote occurs, the outcome is not much in doubt.  Despite an unusual amount of public criticism of the city's support for this project, there has in fact been little question that it would be approved since the mayor stood with the City Council president to endorse the deal months ago. Is it a good thing for the city?
BUSINESS
By Hanah Cho, The Baltimore Sun | February 22, 2012
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.
BUSINESS
By Hanah Cho, The Baltimore Sun | April 28, 2011
Even as executives of Baltimore's Constellation Energy Group and Chicago-based Exelon Corp. announced Thursday the marriage of the two power companies, they acted quickly to sell the $7.9 billion deal to Maryland ratepayers, politicians and especially regulators, who must sign off on the agreement. Constellation and Exelon emphasized a $250 million incentive package that is part of the merger agreement, which includes a $100 credit for each BGE household. Baltimore Gas & Electric, Constellation's regulated utility, has 1.1 million customers.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 30, 2013
French energy firm Electricite de France outlined an exit strategy Tuesday from its stake in three of Exelon's nuclear power plants, including Calvert Cliffs in Southern Maryland. Both companies disclosed that EDF has an option to sell its 49.99 percent stake in Constellation Energy Nuclear Group to Exelon - which owns the rest - for fair market value between 2016 and 2022. Constellation, bought by Exelon last year, also worked out a deal with EDF to transfer the power plants' licenses to its parent.
NEWS
June 24, 2013
Kudos to Carl Councilman Stokes ("Stokes holds up Harbor Point," June 21). I hope the rest of the Baltimore City Council lines up behind him. Harbor Point should not be developed with a new Exelon Corp. building, let alone one subsidized by taxpayer money. Exelon has a fine building downtown. Why should ratepayers - we Baltimore Gas and Electric customers who have our rates increased continually - finance a tonier building blocks away from the current one? Also, rising sea levels will seriously threaten Harbor East, Fells Point, downtown, and other low-lying areas in the coming years.
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