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PSC approves Constellation-EdF venture
Friday, October 30, 2009 1:50 PM


(Source: Associated Press/AP Online)trackingANNAPOLIS, Md. - Maryland regulators have approved a $4.5 billion joint venture between Constellation Energy Group and France's EdF with conditions.

The Maryland Public Service Commission announced the approval Friday. The conditions include a one-time, $110.5 million credit for customers of Baltimore Gas and Electric, a subsidiary of Baltimore-based Constellation.

EdF is looking to acquire nearly half of Constellation's nuclear assets. While the two companies are not regulated by the PSC, Maryland utility regulators reviewed how the deal could affect Baltimore Gas and Electric, which is regulated by the state.

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