Constellation Energy Group has invested in Raleigh, N.C.-based Consert Inc., a "smart grid" technology provider. Consert on Tuesday announced the $17.7 million investment by Constellation, GE Energy Financial Services, Qualcomm Inc., Verizon Ventures and others.

The investment by Constellation, the corporate parent of Baltimore Gas and Electric, comes as Maryland regulators have denied the utility's smart grid proposal because of up-front costs to consumers.

The technology allows consumers to track their electricity use in real time and enables two-way communication between customers and the utility.