Constellation Strikes Deal On Consumer Credits

Law360, New York (March 28, 2008, 12:00 AM EDT) -- Constellation Energy and Maryland authorities have resolved their legal battle over consumer tax credits with a deal that will deliver $346 million in credits and $187 million in one-time rebates to the company's residential customers in Maryland.

The deal resolves litigation revolving around legislation that the Maryland General Assembly passed in 2006 that required Constellation to dish out $386 million in consumer credits.

Under the agreement, Baltimore Gas & Electric, Constellation Energy's regulated utility subsidiary, will deliver 90% of the credits called for in Senate Bill...
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