People's Counsel still objects to Constellation merger

Mergers, Acquisitions and TakeoversRestructuring and RecapitalizationBusinessConsumersPoliticsCivil and Public ServiceMartin O'Malley

The state's consumer advocate on utility matters continues to push for additional concessions to make the Constellation-Exelon merger more palatable to consumers.

The Maryland Office of People's Counsel said in a brief filed Monday that the two energy giants have not demonstrated that the proposed $7.9 billion merger is in the public's interest and would not harm customers of Baltimore Gas and Electric, Constellation's regulated utility.

The People's Counsel also said the companies' settlement with Gov. Martin O'Malley and the state did not allay its concerns.

"Therefore, the Commission must reject the merger as proposed," said the People's Counsel, which reiterated several recommendations, such as doubling the one-time rate credit to $200 per BGE residential customer.

Meanwhile, the two companies rejected the OPC's arguments and asked the Maryland Public Service Commission to approve the deal. The companies and other parties to the regulatory case made their final arguments in filings Monday.

The Public Service Commission is expected to make a decision by Feb. 17.

Hanah.cho@baltsun.com

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