Exelon, the Midwest power giant, has just announced the purchase of Constellation Energy, parent of Baltimore’s power company BGE. Here’s what today’s New York Times article says about the impact of the deal:
Exelon anticipates the acquisition of Constellation will break even in 2012 and be accretive to earnings by 2013. After the deal closes, the combined entity, to be called Exelon, will be the No. 2 residential electricity and natural gas distribution company, covering 6.6 million customers in Maryland, Illinois and Pennsylvania. It will also be the largest competitive power generator, with more than 34 gigawatts of power generation and 226 terawatt-hours of expected output.
It appears that Ohio’s American Electric Power is no longer the Big Daddy in PJM.