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BGE Okays Launch of Constellation Energy

BGE Okays Launch of Constellation Energy

BGE shareholders approved the formation of holding company Constellation Energy Group Inc. Constellation Energy is now set to be launched May 3, trading under the CEG ticker symbol on the New York Stock Exchange. Constellation Energy will be the parent company that holds BGE's common stock and the common stock of all of BGE's current subsidiaries. BGE will become a sibling to its current subsidiaries and will remain regulated by the Maryland Public Service Commission.

Shares of BGE common stock will automatically represent an equal number of shares of Constellation Energy common stock. Customers of BGE and its current affiliates will continue receiving services through the same channels. BGE will remain the local utility.

The formation of Constellation Energy became possible when state law was changed earlier this year to allow public utilities incorporated in Maryland to form holding companies.

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