Constellation Energy Group via Bloomberg
Exelon Corp. agreed to acquire Baltimore-based Constellation Energy in a stock deal worth $7.9 billion. The Justice Department approved the deal but said the companies must sell three power plants in Maryland. Regulators in Maryland have to approve the deal, but it looks as if Exelon CEO John Rowe will secure a deal before he retires after failing in recent attempts. Separately, after a contentious debate, the Illinois General Assembly passed legislation allowing Commonwealth Edison and Ameren to upgrade to a "smart grid" electricity network. On the natural gas side, AGL Resources finalized its acquisition of Naperville-based Nicor Inc.
In this photo, a view of Constellation Energy's Nine Mile Point Nuclear Station, located north of Syracuse in Scriba, New York, U.S., is pictured.