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Constellation-Exelon merger would be a disaster for BGE ratepayers

11:00 AM EST, January 1, 2012

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As a BGE ratepayer, I'm strongly opposed to the Constellation-Exelon merger ("O'Malley praises Exelon-CEG deal," Dec. 16).

For the third time since 2007, Constellation CEO Mayo Shattuck has been trying to engineer a buyout or merger of Constellation while doubling costs to BGE ratepayers, this time with a $13.4 million payday for himself.

The primary legal responsibility of the Maryland Public Service Commission, as state Sens. E.J. Pipkin and James C. Rosepepe noted in a letter to agency, is to protect the best interests of BGE ratepayers.

The PSC erred badly when it allowed Electricite de France to scuttle the Mid-American Energy buyout of Constellation in 2008. BGE charges 14 cents per kilowatt hour, while Exelon charges 17 cents for the same power in Philadelphia.

To the PSC, which appears poised to allow this merger, I have one question: Have you no sense of decency at all?

To allow Mr. Shattuck's newest merger scheme, which would put $36 million of BGE ratepayers' costs directly in BGE executives pockets, is a travesty that clearly violates the legal responsibility of the PSC to protect the economic interests of BGE ratepayers.

Charles L. Rogers, Edgewater