Constellation Energy to be Bought by Exelon

by Michelle on May 1, 2011

Recently it was announced that Exelon Corp., based in Chicago will be buying the energy industry giant Constellation Energy Group Inc., based in Baltimore, Maryland in the near future.  Because of the deal between the two companies’ shares of Constellation stock jumped significantly.  According to Exelon representatives the merger will result in lower cost, cleaner energy and will be one of the largest electricity generation companies in the states.  Constellation energy serves a large number of energy consumers throughout a number of states as it is and the company will only grow due to the recent purchase made by Exelon.  Energy consumers in Chicago and a number other states have the opportunity to choose the energy company that provides them with electricity which is why it is imperative that consumers call Electric Rates to compare rates before choosing a provider.

  • Exelon Corp. will be paying $38.59 per share of Constellation Energy stock which is considerably higher than what Constellation closed at on Wednesday.
  • The merged company will be 78 percent owned by Exelon holders and 22 percent owned by Constellation holders.
  • The merger deal is expected to be completed by early 2012 but there is no definite date as of yet.
  • There is no word as to what kind of changes customers of either company should expect, if any, once the deal is complete.

While Exelon paid more for stock in Constellation there is no word regarding how customers will be affected by the deal, and they may not be affected at all.  Both companies serve a large number of energy consumers and now that customer base will likely grow significantly.  Energy consumers who are concerned about changes in their rates should start comparing energy rates now, before the deal is complete.

Comparing energy rates is simple when you call 1-800-971-4020 and let Electric Rates do the actual comparing for you and then you make the decision.

Electric Rates makes finding the best rate fast and easy so that you can get back to doing what you do and still hopefully save a significant amount of money on your monthly energy costs.

 

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