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October 26, 2009

In The Sun Today: O'Malley conditionally supports approval of Constellation's deal with French firm

Final briefs in regulatory case before the Public Service Commission were due by noon. The PSC will determine the fate of the massive deal that the companies say is needed for a new nuclear reactor to be built in the state.


SUN EXCLUSIVE
O'Malley backs CEG merger

Gov. Martin O'Malley for the first time is backing regulatory approval of Constellation Energy Group's joint venture with a French utility - but only if BGE customers get one-time credits that could be worth more than $200 per household and other conditions are met.

O'Malley, a Democrat, has publicly reproached Constellation and argued that the Public Service Commission, the state's top energy regulator, should ensure that the company's proposal to sell half its nuclear business to Electricite de France for $4.5 billion is in the public's interest.

The governor's heavily qualified support for the transaction comes after he failed to wrangle concessions from Baltimore-based Constellation, which owns Baltimore Gas & Electric, during months of negotiations that took place apart from the regulatory hearings. Many of the demands O'Malley made during those talks are now the conditions he proposes to the PSC.

“The Commission should attach conditions to the approval of this transaction that will give full confidence to the credit markets, to BGE customers, and to the public as a whole,” the administration writes.

Constellation spokesman Robert L. Gould declined to comment on the administration's latest stance Sunday night.

For the full story, click here.

Posted by Laura Smitherman at 12:50 PM | | Comments (0)
        

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Annie Linskey covers state politics and government for The Baltimore Sun. Previously, as a City Hall reporter, she wrote about the corruption trial of Mayor Sheila Dixon and kept a close eye on city spending. Originally from Connecticut, Annie has also lived in Phnom Penh, Cambodia, where she reported on war crimes tribunals and landmines. She lives in Canton.

John Fritze has covered politics and government at the local, state and federal levels for more than a decade and is now The Baltimore Sun’s Washington correspondent. He previously wrote about Congress for USA TODAY, where he led coverage of the health care overhaul debate and the 2010 election. A native of Albany, N.Y., he currently lives in Montgomery County.

Julie Scharper covers City Hall and Baltimore politics. A native of Baltimore County, she graduated from The Johns Hopkins University in 2001 and spent two years teaching in Honduras before joining The Baltimore Sun. She has followed the Amish community of Nickel Mines, Pa., in the year after a schoolhouse massacre, reported on courts and crime in Anne Arundel County, and chronicled the unique personalities and places of Baltimore City and its surrounding counties.
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