Exelon-Constellation proposed merger
On behalf of the Maryland Public Service Commission Staff, David DeRamus assessed potential market power issues associated with the proposed merger of Exelon Corporation and Constellation Energy Group Inc. He analyzed changes in market concentration as a result of the merger, the appropriate definition of relevant geographic markets, and the adequacy of the Applicants’ proposed mitigation plan. In addition, he analyzed the economic viability of the coal-fired electric generation facilities selected for divestiture by the Applicants and evaluated their potential environmental compliance costs. Dr. DeRamus provided testimony on the Applicants’ proposal to build additional renewable generation as a means of addressing market power concerns raised by the proposed merger.