STATEMENT FROM GOVERNOR MARTIN O’MALLEY ON THE PROPOSED MERGER BETWEEN CONSTELLATION ENERGY AND EXELON

ANNAPOLIS, MD (April 28, 2011) – Governor Martin O’Malley today issued the following statement on the proposed merger of Constellation Energy and Exelon:

“The announcement today of Exelon and Constellation Energy’s intent to merge marks a significant development in the ever changing energy industry.

“In addition to being the largest operator of nuclear plants in the United States, Exelon operates two utilities in Pennsylvania and Illinois. If the proposed transaction closes, ownership of the State’s largest utility, Baltimore Gas and Electric, will change, thereby subjecting the transaction to the approval of the Public Service Commission. 

“We will participate actively in those proceedings to ensure that the transaction is in the best interest of Maryland ratepayers.

“This announcement follows yesterday's news that BGE's rates will be falling even further beginning in June 2011.”