BALTIMORE, MD, April 12, 2012 – On March 12, 2012, the merger between Exelon Corporation and Constellation Energy Group, one of Constellation Energy Nuclear Group’s (CENG) two parent companies, was completed. CENG is now an autonomous joint venture between subsidiaries of Exelon and Electricite de France and remains governed by its own board of directors and management.
Brew Barron, President and Chief Executive Officer of Constellation Energy Nuclear Group (CENG) said, “We at CENG are pleased that the merger between Exelon and Constellation Energy has closed. We are now jointly owned by the largest nuclear operator in the U.S. (Exelon) and the largest nuclear operator in the world (EDF). There are no planned impacts to operations at Calvert Cliffs, Nine Mile Point, R.E. Ginna or Baltimore. We will, of course, take advantage of working with both Exelon and EDF to share best practices and learnings, take advantage of their capabilities and resources, and tackle industry issues together. The focus of our great employee team is operating our business safely, reliably and efficiently.”
Exelon, through its subsidiaries, now owns 50.01% of CENG and Electricité de France, SA (EDF), through its subsidiaries, retains its 49.99% share of CENG. Aside from Exelon becoming CENG’s new U.S. parent, CENG’s governance structure does not change as a result of the merger’s closing, and its headquarters remains in Baltimore.
About Constellation Energy Nuclear Group (CENG)CENG (a joint venture between subsidiaries of Exelon Corporation (Exelon – NYSE: EXC) and Electricité de France, SA (EDF)) is based in Baltimore, Maryland. Exelon, through its subsidiaries, owns 50.01% of CENG and is the nation’s leading competitive energy provider, with operations in 47 states, the District of Columbia and Canada. EDF, through its subsidiaries, owns 49.99% of CENG and is developing strategies in North America in nuclear, renewables and trading. CENG is a leading producer of safe and reliable nuclear power. The company owns and operates five nuclear reactors at three sites in New York and Maryland. CENG’s core values are nuclear and personal safety. Nuclear energy – America’s largest source of clean-air, carbon-free, reliable electricity, producing no greenhouse gases – accounts for more than 20 percent of U.S.-produced electricity, powering one in five homes and businesses across the United States.