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Federico Peña

Obama's Exelon ties merit close look

Pay no attention to whether Sen. Barack Obama's ties to Exelon Corp. might make him sympathetic to storing nuclear waste in Nevada. That argument, aired before that state's Democratic caucuses last week, is a sideshow.

A bigger question is how Obama's Exelon links might influence his broader electricity policy at the most critical period for U.S. electricity since the 1930s. Exelon, the Illinois version of Baltimore's Constellation Energy, is one of the country's biggest megawatt producers, the largest nuclear plant operator and a huge Obama backer through its executives and employees.

Would a President Obama try to reform interstate electricity markets that have soaked...