Friday, September 18, 2009

Maryland PSC Hearing On Constellation/EdF Merger

The Maryland Public Service Commission (PSC) held its second of public hearing last night in Baltimore to get input on the proposal by Constellation Energy Group to sell almost half of its nuclear power business for $4.5 billion to Electricite de France, a French-owned utility. The Center supports the merger.

The hearing was held in War Memorial Auditorium where advocaes and opponents made their cases for and against the merger, which is crucial to Constellation's plans to build a third nuclear reactor at Calvert Cliffs. The Center supports the third reactor.

A third and final hearing before the PSC is set for Sept. 29 in Bel Air. The commission is scheduled to decide by October 16 whether the purchase is in the public interest, "convenience and necessity." The PSC is also holding separate evidentiary hearings this week, which were initially scheduled to conclude today will be extended to Monday. The evidentiary hearings are examining the current and future financial condition of Baltimore Gas and Electric, a subsidiary of Constellation Energy Group. (The Baltimore Sun, 9/18/09)

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