Exelon, Constellation Strengthen Merger Proposal

Exelon Corporation

and Constellation Energy

today filed rebuttal testimony with the Maryland Public Service Commission that strengthens the companies' commitments related to the proposed merger, which is currently under review by the PSC. The testimony addresses statements, concerns and proposed conditions set forth in intervenor testimony submitted Sept. 16 from the State of Maryland, Maryland Energy Administration, PSC Staff and the Office of People's Counsel, as well as other parties. The merger proposal provides a direct investment in Maryland of more than $250 million, including a $100 rate credit for each BGE residential customer, investments in energy efficiency and renewable energy, and a new headquarters building in Baltimore. “We are confident that the proposed merger is good for BGE, its customers and the state of Maryland. Our proposal offers significant direct benefits to BGE's customers. Now we have agreed to additional conditions proposed by the parties,” said Christopher M. Crane, president and COO of Exelon. “We appreciate the input from stakeholders and look forward to a continuing dialogue to address their issues.”