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A strong settlement for Constellation-Exelon merger
Gov. Martin O'Malley may not have gotten Exelon to bump up the $100 rate credit it promised to Baltimore Gas and Electric customers as part of its proposed merger with Constellation Energy, but he secured concessions that will be far more valuable to Maryland ratepayers in the long run. The settlement the governor plans to announce Thursday includes a vastly greater commitment to renewable energy and other new power generation than Exelon had ever agreed to before. It contains millions to help improve energy efficiency and assist low-income customers who have trouble paying their bills. And it is likely to produce substantially more short-term and permanent jobs than the energy company's initial proposal.
December 14, 2011