Exelon Corp. (NYSE: EXC) and Constellation Energy (NYSE: CEG) said the Maryland Public Service Commission (PSC) approved their merger. The PSC’s order adds new conditions, but retains many of the terms of the settlement reached in December by the companies, the State of Maryland, the Maryland Energy Administration, the City of Baltimore and the Baltimore Building and Construction Trades Council.
The merger will provide a package of benefits for Maryland, the City of Baltimore and Baltimore Gas and Electric customers totaling more than $1 billion and is expected to create more than 6,000 jobs statewide.
The proposed transaction has been approved by shareholders of Exelon and Constellation. Required regulatory approvals or reviews have been completed by the New York Public Service Commission, the Public Utility Commission of Texas, the Department of Justice, and the Nuclear Regulatory Commission.
The merger also requires regulatory approval by the Federal Energy Regulatory Commission.
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