HomeNovember 15, 2011
Exelon, Constellation Expect FERC to Take Additional Time for Merger Review
Copyright 2011 EnergyChoiceMatters.com.
Exelon and Constellation now believe that FERC will take additional time to consider their pending merger application and proposed settlement with the PJM market monitor, the companies said in an SEC filing yesterday.
The companies had originally projected that FERC would reach a decision by November 16, 2011, within the original 180 day period provided for FERC review.
However, the companies now note that FERC considers the settlement to represent an amendment to the application, thereby providing FERC with an additional 180 days to complete the review.
In a letter filed yesterday, Exelon and Constellation have requested that FERC complete its review and issue a decision prior to the January 5, 2012 statutory deadline for the Maryland PSC's decision on the merger.
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