Md. Agency Criticizes Exelon-Constellation Deal
BALTIMORE (AP) — A Maryland consumer agency says the proposed buyout of Constellation Energy Group by Chicago-based Exelon is a bad deal for customers of Baltimore Gas and Electric Co., a Constellation subsidiary.
The Baltimore Sun reported Tuesday that a consultant for the Office of the People’s Counsel criticized the $7.9 billion deal in a filing with the state Public Service Commission. The People’s Counsel represents consumers in utility matters.
The filing recommends a three-year freeze on BGE rate increases to ensure that all cost savings from the merger have been reflected on BGE’s books.
In another filing, the Maryland Energy Administration questions whether a proposed $100 credit for BGE customers is enough, given the savings the companies expect from the merger.
The PSC will begin hearings on the merger Oct. 31.
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