Exelon-Constellation merger closes

Chicago and Baltimore, March 12, 2012 — Exelon Corp. and Constellation Energy have completed their merger, effective March 12.

The merger creates one of the largest competitive energy providers in the U.S. with one of the largest retail customer bases in the nation.

Upon the closing of the merger, Christopher M. Crane became president and CEO of the combined company, and Mayo A. Shattuck III became executive chairman. The new company retains the Exelon name and remains headquartered in Chicago, with operations in Maryland, Illinois and Pennsylvania. It will trade on the New York Stock Exchange under the symbol EXC.

The merged company is now one of the nation's largest competitive energy products and services suppliers by load (about 164 terawatt-hours per year) and customers (about 100,000 business and public sector and about 1 million residential), serving more than two-thirds of America's Fortune 100 companies.

Exelon will have a coast-to-coast presence with operations and business activities in 47 states, the District of Columbia, and Canada. The company also has one of the nation's largest power generation fleets, with about 35,000 MW of owned power generation, including more than 19,000 MW of nuclear power.

The three utilities within Exelon — BGE, ComEd and PECO — remain headquartered in Baltimore, Chicago and Philadelphia, respectively. Together, they make Exelon one of the nation's largest residential electricity and natural gas distribution companies, serving 6.6 million gas and electric customers across three states.

The two companies are combining operations immediately, and integration efforts are well underway.

The transaction has been approved by shareholders of Exelon and Constellation. Required regulatory approvals or reviews have been completed by the Federal Energy Regulatory Commission, Maryland Public Service Commission, New York Public Service Commission, the Public Utility Commission of Texas, the Department of Justice and the Nuclear Regulatory Commission.

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