Constellation said that a broad settlement is under discussion that includes a number of financial and regulatory agreements. The settlement includes terms that are contingent upon passage of legislation by the Maryland General Assembly.
Certain terms of the settlement agreement under discussion include the reaffirmation by the State of Maryland of the 1999 settlement and dismissal of all ongoing Public Service Commission proceedings related to the settlement and other investigations.
The tentative agreement also includes a one-time bill credit of $170 per each Baltimore Gas & Electric (BGE) residential customer, totaling $187 million. The agreement will also eliminate BGE ratepayer liability for decommissioning the Calvert Cliffs nuclear power plant in southern Maryland.
Pending signing of the settlement agreement and subsequent legislative action by the Maryland General Assembly, the parties will agree to dismiss pending state and federal litigation.
