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U.S.: Fine for power plant giant merger

By  |  November 16, 2012
U.S.: Fine for power plant giant merger

The Justice Department has announced Exelon Corp., the largest nuclear power plant operator and owner in the nation, is to pay $400,000 in fines for its merger with Constellation Energy Group. While Exelon didn’t immediately comment, but according to the Justice Department, the antitrust authority had ordered the company to sell three of its plants in Maryland to ease competition concerns for the merger to be approved. While the Justice Department attempted to put provisions in place to assure Exelon would not raise prices above the market rate, they reportedly had “above-cost electricity sales offers” that Exelon says were “inadvertent.”

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