New York State Public Service Commission Rules No Further Review Needed of Exelon and Constellation Energy Merger

The New York State Public Service Commission today issued a declaratory ruling that it does not need to review further the merger of Exelon Corporation

and Constellation Energy

. The companies submitted their joint application to the New York State PSC on May 17, 2011. “It is a positive step that the New York State PSC does not require further review of our application, because it means they have cleared us to proceed,” said Exelon President and COO Christopher M. Crane. “This is another milestone toward completing our merger, and we continue to be on track to close the transaction in the first quarter of 2012.” “This merger will create the number one competitive energy provider with one of the industry's cleanest and lowest-cost power generation fleets, along with one of the largest customer bases nationally,” said Constellation Chairman and CEO Mayo A. Shattuck III. “The New York State PSC's decision demonstrates additional progress in our efforts to finalize the merger early next year.” Constellation is a co-owner of the Nine Mile Point and Robert E. Ginna nuclear power plants in New York and markets power and gas in the state. Exelon has no operations in New York State.