Wednesday, October 21, 2009

Governor Martin O'Malley Versus Constellation Energy Group

Maryland Governor Martin O'Malley, left, wants 5 things from Constellation Energy Group (CEG), owner of Baltimore Gas and Electric Company, the state's largest utility:

1) Immediate electricity price reductions
2) Extend one-time credits for residential customers
3) Contribute to a program that helps low-income residents pay utility bills
4) Invest in environmentally friendly energy projects
5) Cancel a golden parachute package for Constellation's CEO

Constellation Energy Groups wants:

State regulatory approval of a $4.5 billion deal to sell half its nuclear power business to French utility Electricite de France.

Constellation has offered:

To give customers a break by delaying requests for rate increases.

Approval of the CEG/EdF merger is currently pending before the Public Service Commission, the state's top energy regulator. The PSC could reject the transaction, approve the deal or allow it to move forward if conditions are met. The Center supports the merger.

The O'Malley administration's energy goals:

Create a comprehensive state energy policy
Set goals for reducing energy consumption
Boost renewable power and
Curb greenhouse gas emissions
Re-regulate the electricity market

(Balt Sun, 10/21/09)

No comments: