— Ch. 1 · Corporate Evolution And Mergers —
Constellation Energy.
~3 min read · Ch. 1 of 6
Baltimore Gas and Electric created Constellation as a holding company in 1999. The entity operated more than 35 power plants across 11 states before merging with Exelon in 2012. FERC approved the acquisition that year, rebranding Constellation Energy's energy supply business as Constellation under Exelon Utilities. Baltimore Gas and Electric became a regulated utility operating directly under Exelon after the deal closed on the 12th of March 2012. The current iteration of the company was founded in 2022 when it split off from Exelon to become an independent firm again.
Nuclear Power Dominance
Constellation stands as the United States' leading nuclear power plant operator today. Its portfolio includes over 19,000 megawatts of capacity spread across multiple facilities. Calvert Cliffs Nuclear Power Plant sits in Lusby, Maryland along the Chesapeake Bay. Other major sites include Braidwood and Byron stations in Illinois plus Dresden Generating Station. New York hosts Ginna Nuclear Generating Station alongside James A. FitzPatrick and Nine Mile Point. Pennsylvania houses Limerick Nuclear Power Plant and Peach Bottom Atomic Power Station. Three Mile Island remains active despite Unit 2 being owned by EnergySolutions. South Texas Nuclear Generating Station operates as a minority owner asset for the company.Financial Turmoil And Recovery