Statement from Governor Martin O'Malley Following Public Service Commission Ruling
ANNAPOLIS, MD (June 11, 2009) – Governor Martin O’Malley issued this statement today following the unanimous ruling by the Public Service Commission in Case 9173:
“The Public Service Commission’s unanimous ruling today confirms the State’s longstanding position that EDF’s $4.5 billion acquisition of Constellation’s nuclear assets would provide the French energy company the power to exercise ‘substantial influence’ over Constellation Energy.
“The ruling now triggers a broader inquiry by the PSC to determine whether the proposed CEG/EDF deal is in the public interest.
“I continue to have full confidence in Chairman Nazarian and the members of the PSC to review this proposed deal with a mandate to protect BG&E ratepayers, first and foremost. I also appreciate the PSC’s willingness to conduct this inquiry in an expedited manner to accommodate Constellation and EDF’s anticipated closing date this fall.
“Although the State’s position on substantial influence is clear, it should in no way be interpreted as our opposition to the EDF deal. To the contrary, I believe that this partnership could help secure a more stable and cleaner energy future for our state and our nation. But the public interest must be addressed as part of any deal in order to ensure that ratepayers and the utility are protected.”
