O'Malley: Benefits Of Exelon-CEG Merger Go Beyond Rate Credit

Gov. Martin O'Malley said Thursday that BGE customers would benefit more from the creation of new power in Maryland than just the immediate $100 rate credit they would receive if the proposed merger between Constellation Energy Group and Exelon Corp. is approved.

In announcing the state's settlement with Exelon at a news conference at the State House, O'Malley addressed his administration's approach in its negotiations with the Chicago company. Under the settlement, Exelon agreed to develop 300 megawatts of new generation in Maryland, with half of that amount to be renewable resources, such as solar and wind. The $100 credit provided by Exelon and Constellation was unchanged under the settlement.

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