Oct. 30--Baltimore's Constellation Energy Group said Friday it remains committed to selling half of its nuclear power business to a French utility after reports surfaced earlier this week that Electricite de France wants to scrap the $4.5 billion deal.

Maryland energy regulators are expected to issue an order at noon Friday on whether the transaction is in the public's best interest, the last regulatory hurdle for the deal to close.

Constellation Chairman and CEO Mayo A. Shattuck played down reports from the European press during a conference call with analysts.

"We don't have any reason to believe there is a change of heart," he said. "Both teams are working hard to get this transaction closed."

Assuming the ruling by the Maryland Public Service Commission is reasonable, Shattuck said the company is ready to close the deal in two weeks.

Shattuck noted that protections against a deal termination are strong, including the option for Constellation to sell EDF several of its U.S. coal plants for up to $2 billion -- assets that an EDF executive said the French company does not want during a hearing before the PSC in September.

Also Friday, Constellation reported a third-quarter profit of $137.6 million, or 69 cents per diluted share.

That's compared with a loss of $225.7 million, or $1.27 cents per diluted share, due to write-downs in its commodities operations in the corresponding period last year.

Constellation also raised its 2009 earnings guidance by 15 cents to $3.25 to $3.45 per share.

"Our businesses delivered strong quarterly results and our nuclear and fossil fleets maintained top-tier reliability and operating performance," Shattuck said in a statement.

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