Here is this morning's statement from Constellation Energy, parent of BGE. Here is today's story in The Sun. O'Malley is giving a press conference at 4. Some details from the Constellation release:

-- Reaffirmation by the State of Maryland of the 1999 settlement and dismissal of all ongoing PSC proceedings related to the 1999 settlement and other investigations.

-- One-time bill credit to BGE residential customers ($170 per customer), totaling $187 million.

-- Elimination of BGE ratepayer liability for decommissioning Calvert Cliffs Nuclear Power Plant in Southern Maryland.

-- Restoration of 90 percent of Senate Bill 1 credits (enacted into law during the 2006 Special Session of the Maryland Legislature) and settlement of lawsuits related to the 1999 settlement agreement ($346 million of original $386 million).

-- All things being equal, Constellation Energy will work to develop a new nuclear power plant at its Calvert Cliffs site before development at any other site it controls.

-- Modernization of Maryland's laws (PUC, Sections 6-101, 6-105) governing investment in holding companies of gas and electric utilities.

-- Strengthened PSC oversight capability through codification of federal authority to examine the books and records of any Maryland electric utility and its affiliates.

-- Enhanced corporate governance of BGE through the addition of two independent directors to the BGE Board.

-- Phase-in of future BGE Electric Distribution Rate Changes and early implementation by BGE of accelerated depreciation accrual methodology as recommended by PSC Staff in case 9096.

The first item is especially important. This is essentially a global settlement. It would put all items of contention between Constellation and regulators into one pot and put a lid on it. The customer rebate isn't much ($170). The elimination of ratepayer liability for Calvert Cliffs is a big deal. Getting another nuclear plant for Maryland is important. But O'Malley might have gotten more. More in tomorrow's column.