Constellation Energy To Sue Md. For $386M

Law360, New York (January 31, 2008, 12:00 AM EST) -- Constellation Energy is readying to sue the state of Maryland for $386 million, which the company claims was unconstitutionally taken from it in the form of credits to utility customers in 2006.

Legislation enacted in 2006 mandated these credits to mitigate customers' additional financial burdens associated with a 72 percent rate increase at Baltimore Gas & Electric, a utility subsidiary of Constellation.

"We have reluctantly concluded that we have no choice but to file a federal court action to enforce our rights under a nearly decade-old...
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