in News Departments > New & Noteworthy
print the content item

Exelon Corp. and Constellation Energy Group have increased their respective commitments related to their proposed merger, according to a Maryland Public Service Commission (PSC) filing.

The companies say the deal - which the PSC is currently reviewing - includes a package of benefits totaling more than $445 million in investment in Maryland, which is projected to create more than 2,400 jobs in the state.

According to the filing, Exelon and Constellation have committed to:
  • Build 175 MW of new generation in Maryland, including 55 MW of wind or solar capacity, which would increase the state’s total renewable capacity by more than 30%. The new generation projects will be built within the state, for a total projected investment of between $220 million and $280 million;
  • Construct - not renovate - a brand-new Constellation headquarters building in Baltimore, adding more than 1,100 jobs to Maryland’s economy through direct, indirect and induced effects, for a total projected investment of $95 million to $120 million;
  • Allow Baltimore Gas & Electric (BGE) to retain its capital in lieu of paying dividends to Exelon through 2014 to ensure BGE can continue to support its significant level of investment in key customer and reliability-related initiatives; and
  • Ensure a majority of BGE’s board of directors reside or have a principal place of business in Maryland.


Trachte Inc._id1770
Latest Top Stories

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008