Source Pravda.Ru

Maryland's Constellation Energy to sue state over 400 million credit

By Margarita Snegireva. Maryland's largest power producer Constellation Energy Group reported that it will sue the state state in federal court to cancel almost $400 million in credits it was pressured by lawmakers two years ago into giving electricity customers.

The company said the suit was prompted by an escalating battle with state utility regulators over the terms of a 1999 law to deregulate electricity markets. Constellation officials have accused the Public Service Commission of politicizing concerns about deregulation and jeopardizing the company's plans to build additional power plants in the state, including a third reactor at the Calvert Cliffs nuclear plant in Southern Maryland.

Constellation Energy headquartered in Baltimore, Maryland, generates, trades, supplies, and distributes energy. The company operates over 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California) under its operating company Constellation Commodities Group and/or Constellation Generation Group.

Constellation Energy delivers electricity to 1.3 million customers and natural gas to over 600,000 customers in Central Maryland under its operating company Baltimore Gas & Electric. Constellation Energy provides essential home and light commercial products and services under its operating company BGE Home. Constellation Energy serves more than 10,000 commercial and industrial customers throughout 31 states and 3 Canadian provinces representing more than 15,000 megawatts of peak load and nearly 300 billion cubic feet (bcf) of annual natural gas consumption under its Constellation NewEnergy operating company. Constellation NewEnergy also supplies power to two-thirds of Fortune 100 companies.