A MASSIVE, WORLD WAR I-era building in downtown Baltimore houses Constellation Power Source, an unregulated, wholly owned power-marketing subsidiary of Baltimore Gas and Electric Co. Upon introducing the new company in February, BG&E announced that Goldman Sachs would serve as "exclusive advisor" for the start-up.
Later, when asked to clarify the relationship between the two companies, Charles W.
Potomac Electric Power Co. says merger delays are costing it money and it's asking the Maryland Public Service Commission to approve a rate increase.
PEPCO says savings achieved from its proposed merger with Baltimore Gas and Electric Co. would have absorbed the increased costs. The merger would form Constellation Energy.
The rate increase would be only for the utility's Maryland customers.
The Federal Energy Regulatory Commission and the Maryland Public Service Commission have approved the merger of Baltimore Gas and Electric Co. and Potomac Electric Power Co. to form Constellation Energy Corp.
However, the stiff terms for approval (em including mandatory rate cuts (em have prompted the utilities to claim they might abandon the merger.
A divided Federal Energy Regulatory Commission (FERC) has set for expedited hearing the proposed merger between Baltimore Gas and Electric Co. (BGE) and Potomac Electric Power Co. (PEPCO) to form "Constellation Energy Corp.," to determine its effect on competition (Docket Nos. EC96-10-000 and ER96-784-000).
It will also consider the applicants' proposed open-access transmission rates. An administrative law judge will certify the record to the FERC by November 1.
Peter C. Nelson was named president and CEO of California Water Service Co. Nelson also will be a director. He comes from Pacific Gas & Electric Co., where he was v.p.-division operations. He replaces the retiring Donald L. Houck.
Jack Lucido of ANR Pipeline Co. was elected to the American Gas Association's pipeline research committee, succeeding Gary Walker of Pacific Transmission Co.
The Electric Power Research Institute hired Karl G. Van Orsdol as senior manager, international relations.
Is One Merger as Good as Another?
In late November, the Federal Energy Regulatory Commission (FERC) put off immediate approval of the proposed merger between The Washington Water Power Co. and Sierra Pacific Resources (to form "Altus"), and set the case for hearing. The reason? The FERC doubted whether the merger would achieve operational efficiencies between the two noncontiguous utilities.
Is One Merger as Good as Another?
In late November, the Federal Energy Regulatory Commission (FERC) put off immediate approval of the proposed merger between The Washington Water Power Co. and Sierra Pacific Resources (to form "Altus"), and set the case for hearing. The reason? The FERC doubted whether the merger would achieve operational efficiencies between the two noncontiguous utilities.