Constellation CEO: FPL merger proposal on hold

Published



Officials with Constellation Energy and FPL Group have stopped meeting about plans to integrate staff and operations for a proposed merger, Constellation CEO Mayo Shattuck told employees and the Securities and Exchange Commission Wednesday.

Political turmoil over Constellation subsidiary Baltimore Gas and Electric?s planned 72 percent residential rate hike, to take effect July 1, is jeopardizing the merger, Shattuck said.

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