CEO Mayo Shattuck

HOUSTON (Reuters) - Two companies leading the U.S. nuclear power revival may curb spending on the next generation of reactors due to delays in federal loan support, officials said.The Energy Department has had little to say in the five months since President Barack Obama announced the first nuclear loan commitment of $8.3 billion to a Southern Co-led consortium for two new reactors to be built in Georgia.The U.S. House of Representatives has approved the Obama administration's request to add...Read Full Story

BANGALORE (Reuters) - Power company Exelon Corp <EXC.N> is to buy rival Constellation Energy Group <CEG.N> for $7.9 billion, the latest in a series of deals in a fragmented U.S. utility industry that faces new costs to upgrade power grids and meet environmental controls.Recent deals include Duke Energy's <DUK.N> $13.7 billion bid for Progress Energy <PGN.N>, Northeast Utilities' <NU.N> $4.2 billion buy of NSTAR <NST.N>, and AES Corp's <AES.N> $3.5 billion offer for DPL Inc <DPL.N>.On Wednesday, Reuters had reported that Exelon was near to...Read Full Story

As I mentioned before, sport legends not just measured by the achievements from the field. Coach, manager, founder and director of a team, or commissioner of a league, also can change the course of a sport history, thus can be categorized as a sport legends too.Now, let me introduce you to Mayo Shattuck, a notable American businessman, and currently Chairman and CEO of Baltimore-based Constellation Energy. As an avid golfer, Mr. Shattuck has been ranked in the Top 10 of Golfing CEOs...Read Full Story

French electricity generator EDF said Saturday it was shocked and disappointed that Constellation Energy has decided to pull out of a project to build a nuclear power plant in the US state of Maryland."EDF is extremely disappointed and shocked to learn that Constellation has unilaterally decided to withdraw from the Calvert Cliffs 3 project," the company said in a statement.Earlier, Constellation Energy had said it was unable to obtain a workable US federal loan guarantee for their joint...Read Full Story

Constellation Energy Group's top executive, Mayo Shattuck III, received total compensation valued at $5.7 million in 2008, according to Associated Press calculations of data filed with regulators Wednesday.The pay package represents a nearly 56 percent drop in value from his 2007 compensation, and follows a year in which the wholesale power generator was nearly forced into bankruptcy by a liquidity crisis.Shattuck, Constellation's chairman, president and CEO, received a salary of $1.3 million...Read Full Story

Constellation Energy Group Inc. says it won't tap a government program necessary to build a new nuclear plant in Maryland, in a move likely to kill the project, according to a published report on Sunday.The U.S. Department of Energy's loan guarantee came with "unworkable" terms and an "unreasonably burdensome" cost, Constellation said Saturday, according to a report by The Wall Street Journal.The Baltimore-based utility said it made several attempts to reach a deal with the Energy Department...Read Full Story

Maryland regulators conditionally approved a $4.5 billion joint venture between Constellation Energy Group and France's EdF on Friday in what would be the last regulatory hurdle to the deal.The conditions include a one-time, $110.5 million credit for customers of Baltimore Gas and Electric, a subsidiary of Baltimore-based Constellation. The credit would save each BGE customer about $100, and the Public Service Commission said the company should implement the credit before the end of March...Read Full Story

The US state of Maryland on Friday approved a plan for France' EDF Group to take a stake in Constellation Energy Group, clearing the final hurdle for a new nuclear power plant in the state.US regulators earlier this month had green-lighted the joint venture plan for the French state-controlled company to acquire nearly half of Constellation's nuclear assets.The companies say the nuclear joint venture is critical to the proposed construction of a new nuclear generation plant at Constellation's...Read Full Story

French energy giant Electricite de France (EDF) has raised around 3.2 billion euros (4.4 billion dollars) via a bond-issue aimed at private individuals, its chief executive says in an interview to be published Thursday.Pierre Gadonneix told the Tribune newspaper that the figure could yet rise as the company receives the final applications from would-be investors.He also said that EDG was confident it will gain US regulatory approval to complete its purchase of a near 50-percent stake in...Read Full Story

NEW YORK (Reuters) - Constellation Energy Group <CEG.N>, which has agreed to be bought by Exelon Corp <EXC.N>, posted lower-than-expected first quarter earnings as severe weather in Texas knocked two power plants offline.Net income fell to $70.4 million, or 35 cents per share, from $191.5 million, or 95 cents per share.Excluding one-time items, earnings of 63 cents per share, below 96 cents that analysts had on average forecast, according to Thomson Reuters I/B/E/S.Revenues slipped less than 1 percent to...Read Full Story