Exelon Corp., Parent Of BGE And Constellation, To Split Into Two Companies (BBJ Story)
Exelon Corp., the parent company of locally based Constellation and Baltimore Gas & Electric Co., will split into two different publicly traded companies, one for its regulated utilities and another for its power-generating business.
The plan, announced Wednesday morning, would spin off the company's power-generating assets — including Exelon Generation and Constellation — to become the nation's largest supplier of clean energy. Constellation, a retail and wholesale supplier of power and natural gas, has been headquartered in Baltimore since it was acquired by Exelon in 2012.
Exelon Generation operates the nation's largest collection of carbon-free nuclear power plants as well as various natural gas, hydroelectric, solar, wind and oil facilities.
The remaining company would consist of Exelon Utilities, which encompasses six regulated utilities, including BGE, that together serve more than 10 million customers. Exelon's other utilities include Atlantic City Electric in New Jersey, ComEd in Illinois, Delmarva Power in Delaware and eastern Maryland, Pepco in Washington, D.C., and PECO in Pennsylvania.