Constellation Energy appeals ruling by Maryland regulators over EdF deal

Constellation appeals Md. decision on EdF

BALTIMORE — Power company Constellation Energy has appealed a ruling by Maryland regulators that they have the right to approve its proposed $4.5 billion sale of half its nuclear power business to French nuclear company EdF.

Earlier Thursday, the Maryland Public Service Commission said it has the power to consider the deal because of the potential influence Electricite de France SA may have over Constellation Energy subsidiary Baltimore Gas and Electric.

But Constellation Energy says EdF’s investment isn’t related to the Baltimore utility and it involves a minority stake in Constellation.

The company has asked Baltimore city Circuit Court to expedite the proceedings. It says it wants to close the deal in the third quarter.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

BALTIMORE (AP) — Maryland regulators say they have the right to sign off on French nuclear power company EdF’s plan to buy half of Constellation Energy’s nuclear power business for $4.5 billion.

In a ruling Thursday, the Public Service Commission says the deal would give Electricite de France SA a substantial influence over Constellation subsidiary Baltimore Gas and Electric. Because of that, EdF and Constellation need regulatory approval to close the deal.

At the time when the deal was announced, the companies said approval from Maryland regulators was not required.