NY state gives OK to Exelon-Constellation deal

December 16, 2011

The Associated Press

New York regulators have approved Exelon Corp.'s merger with Baltimore-based Constellation Energy Group Inc., which operates three nuclear power plants on Lake Ontario in upstate New York.

The state Public Service Commission said Thursday that it has ended its eight-month review of Exelon's purchase of Constellation Energy's controlling interest in the Robert E. Ginna (jihn-AY') plant in Wayne County and the Nine Mile Point I and II reactors in Oswego County.

The PSC says the sale would have no significant impact on New York ratepayers.

Chicago-based Exelon is buying Constellation for nearly $8 billion. Exelon is the nation's largest nuclear-power generator, and the deal will give the company five more reactors from Constellation when it's complete.

The Ginna plant was built by Rochester Gas and Electric and sold to Constellation in 2004 for $408 million.