Constellation announced Monday it had received approval from its board and that the Baltimore-based company is "now moving to close the transaction as quickly as possible."

EDF also says it will work to close the transaction.

The Maryland Public Service Commission included several conditions to approving the deal on Friday, including a one-time, $110.5 million credit for customers of Baltimore Gas and Electric, a subsidiary of Constellation.

Constellation has said the joint venture will enable it to build a third reactor at the Calvert Cliffs Nuclear Power Plant in southern Maryland to meet future energy demands.

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