Constellation, MidAmerican tell PSC deal is off

admin//December 19, 2008//

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Attorneys for Constellation Energy Group Inc. and MidAmerican Energy Holdings Co. formally told Maryland utility regulators Friday that their deal has been called off.

Constellation officials also briefed the Public Service Commission on a bid by EDF of France for half of the company’s nuclear energy unit.

Attorney Deborah Jennings, who represented Constellation at the hearing, said EDF is a world leader in nuclear energy and would be a “boon” to Constellation. Constellation is seeking to build a third nuclear power plant at its Calvert Cliffs site in southern Maryland.

Jennings said the company expects approval from other agencies could take six to nine months.

MidAmerican is based in Des Moines, Iowa, and is controlled by Berkshire Hathaway, which is based in Omaha, Neb.