Md. Consumer Advocate Opposes Constellation Deal
BALTIIMORE (AP) — Maryland’s consumer advocate says Exelon’s proposed $7.9 billion takeover of Constellation Energy is still not in the public’s interest, despite the two companies’ recent settlement with Gov. Martin O’Malley’s administration.
The Maryland Office of People’s Counsel said in a filing Monday with the Public Service Commission that the two companies have not demonstrated the merger will not harm customers of Baltimore Gas and Electric, a Constellation subsidiary that is regulated by the commission.
The companies, meanwhile, argued in their own filing that the deal is in the public interest and asked the PSC to approve the deal. The commission is expected to make a decision by Feb. 17.
O’Malley dropped his initial opposition to the deal after the companies increased commitments to renewable energy and assistance to low-income residents.
(Copyright 2012 by The Associated Press. All Rights Reserved.)