Exelon Rejects Md. Demands In Constellation Deal
BALTIMORE (AP) -- Exelon's president says some conditions that the state of Maryland is trying to impose on its proposed buyout of Constellation Energy Group are unrealistic.
Exelon President Christopher Crane made the comments in testimony filed Wednesday with the Maryland Public Service
Commission.
Crane said a Maryland Energy Administration proposal on how the merged company should meet renewable energy standards is unworkable and would be very costly to Exelon and Maryland's residential customers and should not be adopted as a merger condition. Crane and Baltimore Gas and Electric President and CEO Kenneth DeFontes
Jr. also filed testimony assuring the PSC that BGE would remain responsive to its customers and state regulators.
Constellation Energy's French nuclear partner and second largest shareholder also filed testimony Wednesday asking Maryland regulators to reject the buyout.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
