Friday, July 10, 2009

Judge dismisses Constellation lawsuit

In a blow to Constellation Energy Group, a judge dismissed Thursday the company's lawsuit challenging the authority of Maryland regulators to investigate its deal to sell half its nuclear power business to a French utility. The ruling means Constellation has little choice but to proceed with the regulatory review of its $4.5 billion transaction with Electricite de France, a regulatory hurdle that the utility had hoped to avoid and had argued was not required under state law. In a statement, Constellation expressed disappointment with the judge's decision and said it would review its legal options. The legal battle stemmed from the Maryland Public Service Commission's ruling last month that Constellation's deal must be in the public interest to go forward, thereby requiring the panel's approval. Constellation, the parent of Baltimore Gas and Electric Co., the region's largest utility, filed a lawsuit seeking to overturn the PSC ruling.
The Baltimore Sun

No comments: