Statement from Governor Martin O'Malley following the Ruling from the Public Service Commission
ANNAPOLIS, MD (October 30, 2009) –Governor Martin O’Malley issued this statement today following the ruling by the Public Service Commission on the approval of a proposed transaction between Constellation Energy and EDF:
“I want to commend the Public Service Commission for the fair and reasonable order it issued today in approving the Constellation-EDF transaction. By ordering certain conditions as part of the approval, the PSC clearly addressed the core issue the State has pursued in this matter from the start – to protect the 1.1 million BGE ratepayers by upholding a law that requires this deal to provide ‘benefits and no harm’ to ratepayers.
“The PSC and its staff conducted a professional, independent and expedited review of an enormously complicated transaction and clearly issued this order in such a timely fashion – four days after final briefs were submitted – to accommodate the two companies’ deadline to conclude the deal.
“I now hope that all parties will accept this order approving the deal and move forward. Although this has been a contentious proceeding at times, the process and the law worked -- and ratepayers and BGE are better off because of it. I look forward to working with Constellation and EDF and the Building Trades in the months and years ahead to move forward on the anticipated construction of Calvert Cliffs III -- a new clean energy-generating asset that we hope will create thousands of jobs in our State and help to secure Maryland’s energy future.
“I want to also thank the incredible work of Attorney General Doug Gansler’s office, and Assistant Attorney General Joshua Auerbach in particular. Their professionalism and diligence in representing the state and ratepayers’ interest in this matter was extraordinary.”
