Highlights
FPL Group is an energy company with two main subsidiaries, Florida Power & Light Co. and FPL Energy Inc. It has revenues of close to $16 billion annually and has a presence in 26 states. A third subsidiary, FPL FiberNet, provides cable and fiber-optic services to telecommunications companies. FPL Group's Florida Power & Light subsidiary is the largest investor-owned utility in Florida. In 2007, FPL announced plans to build the world's largest solar-power plant. The company owns nuclear plants in four states.
FPL Group is an energy company with two main subsidiaries, Florida Power & Light Co. and FPL Energy Inc. It has revenues of close to $16 billion annually and has a presence in 26 states. A third subsidiary, FPL FiberNet, provides cable and fiber-optic services to telecommunications companies. FPL Group's Florida Power & Light subsidiary is the largest investor-owned utility in Florida. In 2007, FPL announced plans to build the world's largest solar-power plant. The company owns nuclear plants in four states.
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Stock price may push Shattuck to sell Constellation to Exelon
Few things inspire financial journalists, stock analysts and investment bankers like rumors about corporate mergers and acquisitions.
M&A action creates drama for the writers, bonuses for prescient analysts and huge fees for the bankers. So perhaps it'...Tags: France, Constellation Energy Group, Barack Obama, Mergers, Acquisitions and Takeovers, Prices
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This time, Constellation takeover will go through
Sometime around May 2012, you will open your BGE statement and react with mild pleasure, perhaps, on seeing that your bill is reduced by $200 or so.
True, this might be considered a long shot. History has held out such rebates before and then yanked them...Tags: Mergers, Acquisitions and Takeovers, Executive Branch, Disasters, Exelon Corp., Annapolis
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Constellation timeline
1816: Rembrandt Peale and four other prominent Baltimoreans form the country's first gas utility, Gas Light Co. of Baltimore. 1880: After fierce competition, Gas Light Co. merges with two rivals to form Consolidated Gas Co. of Baltimore City. 1906:...Tags: Constellation Energy Group, Mergers, Acquisitions and Takeovers, Heating, Ventilating, and Air Conditioning, Electricity Production and Distribution, Litigation and Regulation
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Customers in Florida unsold on bigger utility
South Florida Sun-sentinelLou Barry has seen his Florida Power & Light Co. bill soar because of hurricane-related surcharges and adjustments for higher fuel costs. So when parent FPL Group Inc. announced its planned $11.5 billion acquisition of Baltimore's Constellation Energy...Tags: Tampa, Mergers, Acquisitions and Takeovers, Hurricane Damage, Civil and Public Service, Disasters
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FPL officials get raises
As FPL Group's CEO was nearing a merger deal last week, Lewis Hay III and other top Florida Power & Light executives got pay raises for 2006. Hay, the chief executive, who announced the deal to merge with Baltimore-based Constellation Energy this week,...Tags: Mergers, Acquisitions and Takeovers, Disasters, Wages and Pensions, Heating, Ventilating, and Air Conditioning, Natural Disasters
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Ehrlich letter to legislative leaders
The following is the text of a letter sent today by Gov. Robert L. Ehrlich Jr. to Senate President Thomas V. Mike Miller and House Speaker Michael E. Busch. Dear Mr. Speaker and Mr. President: Due to Baltimore City's interference, more than one...Tags: Natural Gas, Executive Branch, Family, Thomas V. Mike Miller, Electricity Production and Distribution
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Energy firms to detail merger
Sun reporterConstellation Energy Group and Florida-based FPL Group Inc. are expected to announce today a more than $11 billion merger that will create a Fortune 100 energy giant with joint headquarters in Baltimore and Juno Beach, Fla., a source familiar with the...Tags: Natural Gas, Constellation Energy Group, Mergers, Acquisitions and Takeovers, Bank of America Corp., Juno Beach
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Electric rate jolt coming
Sun ReporterThanks to a nearly six-year cap on residential prices, electricity in Maryland is the one source of energy that costs less today than it did early in the Clinton administration. But tomorrow is the beginning of the end for consumers who cherish...Tags: Constellation Energy Group, Disasters, Heating, Ventilating, and Air Conditioning, Energy Resources, Illinois
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Furor over People's Counsel
Sun reporterMany of those on the front lines of the battle over rising electricity costs say one voice has been noticeably absent from the debate - the state's top consumer advocate, the Office of the People's Counsel. Lawmakers accuse the office and its chief,...Tags: Paula C Hollinger, Nathaniel Exum, Local Elections, Mergers, Acquisitions and Takeovers, Executive Branch
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Sun Q&A: Bernie Kohn on Constellation-FPL deal
Mitchell, Baltimore: Why doesn't the Florida Public Service Commission have to approve the merger as the Maryland Public Service Commission does? Kohn: Florida is one of only three states that do not give its regulators the authority to approve or deny...Tags: History, Mergers, Acquisitions and Takeovers, Retirement, Disasters, Civil and Public Service
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Lobby work questioned
Sun reporterFormer Gov. Marvin Mandel registered as a lobbyist for the insurance industry after being appointed in 2003 to the University System of Maryland Board of Regents, despite a legal prohibition against doing so that could earn him a reprimand. And he is now...Tags: Beverage Industry, Constellation Energy Group, Local Elections, Fraud, Executive Branch
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Constellation, FPL unveil $11.5 billion merger plan
Sun reportersAfter Mayo A. Shattuck III and Lewis Hay III began meeting last spring to discuss a merger of the power companies they lead, they described their talks as "Project NASCAR." Shattuck's Constellation Energy Group Inc. in Baltimore was code-named "Chevy" and...Tags: Constellation Energy Group, Mergers, Acquisitions and Takeovers, Auto Racing, Civil and Public Service, Stock Market
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