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Constellation Defends $4.5B Electricite De France Deal

Law360, New York (October 27, 2009) -- Facing a challenge from public advocacy groups and pressure to hand out electricity bill rebates, Constellation Energy Group Inc. has told Maryland regulators that the proposed $4.5 billion sale of 49.99 percent of its nuclear power assets to Electricite de France SA will not hurt state ratepayers.

In a lengthy brief filed Monday before the Maryland Public Service Commission, the company warned that attempts by Maryland Gov. Martin O'Malley and others to secure juicy rebates for 1.1...

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