O'Malley: PSC Active In Exelon-Constellation Deal

ANNAPOLIS, Md. (AP) -- Maryland Gov. Martin O'Malley says the proposed merger of Constellation Energy and Exelon Corporation is subject to the approval of the state's Public Service Commission.

The governor also says state regulators will participate actively to ensure the transaction is in the best interest of Maryland ratepayers.

Constellation has had a rocky history with the governor and state regulators.

The two companies announced Thursday that Exelon has agreed to buy Constellation Energy Group Inc. in a $7.9 billion stock deal.

Baltimore Mayor Stephanie Rawlings-Blake says she spoke with Constellation's CEO on Wednesday and was told the proposed merger will mean more jobs for the city.

Baltimore-based Constellation is the parent of Baltimore Gas and Electric, which serves 1.2 million electric customers and 630,000 gas customers.

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