By Baltimore Business Journal

Exelon Corp.â¿¿s CEO said the company is open to negotiations with Maryland energy officials about building renewable energy generation in the state.

The company had previously rejected a call from the Maryland Energy Administration that it build as much as 400 megawatts of renewable generation in Maryland. Exelon (NYSE: EXC) promised to build 25 megawatts of renewable power in the state as part of its $7.9 billion merger with Baltimore-based Constellation Energy Group (NYSE: CEG).

⿿We are very happy to have a live negotiation with Maryland officials, but we⿿re not going to give away the real value in this transaction,⿝ Exelon CEO John W. Rowe said Wednesday on a quarterly conference call with Wall Street analysts. ⿿We believe we can make this work for you, our shareholders, and for the customers in Maryland.⿝

If the two sides can find agreement in negotiations, it could help the merger win regulatory approval in Maryland. The Maryland Public Service Commission will listen to both sides, and all other stakeholders, in hearings that begin Oct. 31.

The hearings will explore whether the merger harms or benefits customers of Baltimore Gas and Electric Co., a Constellation subsidiary.

The companies plan to close the deal in the first quarter of 2012, assuming the PSC approves it by a Jan. 5 deadline.

Copyright 2011 American City Business Journals

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