Baltimore Gas and Electric says most customers will get a $100 credit on their bills next month as part of the takeover of BGE parent Constellation Energy by Exelon Corp.
The $7.9 billion takeover of Constellation Energy was completed last month, creating one of the largest competitive power suppliers in the United States. The two companies agreed to the credit and other conditions to win Maryland regulators’ approval.
BGE officials say customers do not need to do anything to receive the credit. It will be automatically applied to bills for residential customers with an active account on May 1.
Maryland Gov. Martin O’Malley’s administration initially opposed the deal, saying it was not in the public’s interest, but he relented after the companies increased commitments to renewable energy and low-income assistance.