Constellation Energy Group, which is selling itself to Exelon Corp., reported Friday a loss in the fourth quarter in what is expected to be the energy giant's last earnings release as a publicly traded Baltimore company.
Maryland energy regulators approved Constellation Energy Group's sale to Chicago-based Exelon Corp. Friday, but directed the companies to create a $113.5 million fund for customers of Baltimore Gas and Electric that would provide energy efficiency and low-income assistance and to meet other conditions.
Maryland energy regulators are expected Friday to issue a decision on the proposed sale of Constellation Energy Group to Chicago-based Exelon Corp.
Harbor Point, a development project led by bakery magnate and developer John Paterakis Sr., has been selected as the site of the new headquarters for the combined Constellation-Exelon company if the proposed merger is completed, the two energy giants announced Wednesday.
Gov. Martin O'Malley said that BGE customers would benefit more from the creation of new power in Maryland than the immediate $100 rate credit if the proposed merger between Constellation and Exelon approved.
Jay Hancock: Maryland has been waiting for energy companies to build new generation capacity without getting ratepayers to foot the bill. Only when a $7.9 billion merger and a retiring executive's legacy were at stake did the commitments finally get made.
In a settlement with Gov. Martin O'Malley, Exelon Corp. promised to develop significantly more natural gas, wind and solar power in Maryland, contribute more money to help low-income electricity customers and provide more protection for Baltimore Gas and Electric.
As the Occupy movement protests corporate culpability in the recession and unemployment crises, the merger of Constellation Energy and Exelon Corp. provides some fodder.
Two Maryland senators called on state energy regulators Thursday to order the spinoff of Baltimore Gas and Electric as an independent, publicly traded company as a condition of approving the merger between BGE's parent Constellation Energy Group and Chicago-based Exelon Corp.
Exelon COO Christopher M. Crane said Wednesday that some 600 corporate positions would be eliminated under a Constellation-Exelon merger.
Constellation Energy Group CEO Mayo A. Shattuck III defends the Baltimore company's plans to sell itself to Chicago-based Exelon Corp. before Maryland energy regulators.
Maryland energy regulators have added at least two more days to review Constellation Energy Group's plans to sell itself to Chicago-based Exelon Corp.
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.
A critic of Constellation Energy Group's proposed merger with Chicago-based Exelon Corp. wants the two companies to provide $810 million in incentives to Maryland ratepayers and other stakeholders as part of their deal.
Jay Hancock: Exelon, which seeks approval to buy Baltimore-based Constellation Energy, shows it can play the deregulated energy game just as well as Constellation ever did.
Constellation Energy has taken a very different approach to its proposed acquisition by Chicago-based Exelon Corp. than it has for past offers, according to president and CEO Mayo A. Shattuck III.
Maryland's ratepayer advocate is objecting to Exelon Corp.'s proposed buyout of Constellation Energy Group, telling federal regulators that the combined company would have too much control of electricity prices on the grid that serves much of the Mid-Atlantic region.
The announcement this week that Chicago-based Exelon Corp. has struck a deal to take over Constellation came as something of a psychic blow. If the $7.9 billion deal is approved, and the parent of local utility BGE is absorbed , then Baltimore will lose its sole remaining Fortune 500 headquarters.
Jay Hancock: Maryland's Public Service Commission must make triply sure that the sale of Constellation Energy to Exelon Corp. doesn't put Baltimore Gas & Electric at risk.
Constellation Energy Group Inc. reported Friday that Chief Executive Mayo A. Shattuck III's total compensation in 2010 was $15.7 million, a 44 percent increase from a year earlier because of an increase in pension value and deferred earnings the company attributed to an accounting change.