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Constellation Energy-EDF deal advances

Constellation Energy-EDF deal advances

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Constellation Energy Group Inc. has taken steps to meet conditions required by the Maryland Public Service Commission in its approval of the company’s $4.5 billion deal with Electricite de France.

The PSC wanted Constellation to financially separate itself from subsidiary Baltimore Gas & Electric Co., called ring fencing, to protect the utility from a potential Constellation bankruptcy. Constellation has contributed $315.9 million to BGE and has created a special purpose subsidiary to hold 100 percent of common equity interests in BGE.

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