The settlement, which requires court approval, calls for the companies to sell three coal plants in Maryland to alleviate market concentration in the mid-Atlantic electricity grid. Exelon and Constellation already announced plans to divest the Brandon Shores and H.A. Wagner plants in Anne Arundel County and the C.P. Crane plant in Baltimore County.
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The $7.9 billion deal still requires approval by the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and the Maryland Public Service Commission, which will make a decision by Feb. 17.
The companies expect to close the deal in early 2012.