Maryland Public Service Commission (PSC) has approved the Exelon-Constellation merger. The PSC’s order adds new conditions, but retains many of the terms of the settlement reached in December by the companies, the State of Maryland, the Maryland Energy Administration, the City of Baltimore and the Baltimore Building and Construction Trades Council. The merger will provide a package of benefits for Maryland, the City of Baltimore and BGE customers totaling more than US$1bn and is expected to create more than 6,000 jobs statewide.
The proposed transaction has been approved by shareholders of Exelon and Constellation. Required regulatory approvals or reviews have been completed by the New York Public Service Commission, the Public Utility Commission of Texas, the Department of Justice, and the Nuclear Regulatory Commission. The only regulator left to give approval is the Federal Energy Regulatory Commission.