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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