Constellation Puts Md. Nuke Plant's Future In Question

Law360, New York (October 12, 2010, 2:16 PM EDT) -- Constellation Energy Group Inc. has backed out of the federal loan guarantee process for a nuclear plant it planned to build in Maryland with joint venture partner Electricite de France SA, citing a "shockingly high" estimated $880 million credit subsidy cost.

In a Friday letter to U.S. Department of Energy Deputy Secretary and COO Daniel Poneman, Michael Wallace — chairman of Constellation/ EDF joint venture UniStar Nuclear Energy — said Constellation did not see a timely path to reaching a workable set of terms and conditions....
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