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October 18, 2010
Constellation Energy has offered to sell its 50% stake in UniStar to EDF for $1, but refused to link the sale to Constellation waiving its ability to exercise a put option which would require EDF to purchase a dozen Constellation plants for $2 billion.
October 14, 2010
EDF has offered to buy Constellation Energy's 50% share of nuclear venture UniStar at "fair market value," but only if Constellation does not exercise a put option that would compel EDF to buy a dozen plants from Constellation for $2 billion. Most of the plants are coal-fired.
October 11, 2010
Constellation Energy on October 8 informed the U.S. Department of Energy that it cannot move forward with the loan guarantee process regarding UniStar Nuclear Energy's Calvert Cliffs 3 loan guarantee application because, "the proposed terms and conditions are unworkable."
