Constellation Energy Releases Statement Regarding the Company`s Proposed Nuclear Joint Venture with EDF

BALTIMORE--(Business Wire)--
Constellation Energy (NYSE: CEG) today released the following statement
regarding Friday`s decision by the Maryland Public Service Commission (PSC) to
approve with conditions the proposed nuclear joint venture between Constellation
Energy and EDF.

"We are pleased that the Maryland Public Service Commission concluded the
Constellation Energy-EDF nuclear joint venture is in the public interest and
represents an important element in Maryland`s energy future. Constellation
Energy appreciates the PSC`s professional approach to the process and commitment
to bringing this review to conclusion in a timely manner.

"We have consulted with our Board and received its approval. We are now moving
to close the transaction as quickly as possible so that we can begin to deliver
the many benefits of this investment to all stakeholders across the state."

About Constellation Energy

Constellation Energy (www.constellation.com) is a leading supplier of energy
products and services to wholesale and retail electric and natural gas
customers. It owns a diversified fleet of generating units located throughout
the United States, totaling approximately 9,100 megawatts of generating
capacity, and is among the leaders pursuing the development of new nuclear
plants in the United States. The company delivers electricity and natural gas
through the Baltimore Gas and Electric Company (BGE), its regulated utility in
Central Maryland. A FORTUNE 500 company headquartered in Baltimore,
Constellation Energy had revenues of $19.8 billion in 2008.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the
Securities Exchange Act of 1934, including, but not limited to, statements
relating to the prospects for the proposed transaction between Constellation
Energy and EDF. Such statements are based upon the current beliefs and
expectations of our management and involve a number of significant risks and
uncertainties, many of which are difficult to predict and are generally beyond
the control of Constellation Energy and EDF. Actual results may differ
materially from the results anticipated in these forward-looking statements. A
discussion of the risks and uncertainties that could cause Constellation
Energy`s results to differ materially from those described in the
forward-looking statements can be found in Constellation Energy`s periodic
reports filed with the Securities and Exchange Commission, which are available
at the Securities and Exchange Commission`s Web site (http://www.sec.gov) at no
charge. Constellation Energy assumes no responsibility to update any
forward-looking statements as a result of new information or future developments
except as expressly required by law.

Constellation Energy
Media:
Robert L. Gould
Debra Larsson
410-470-7433
or
Investors:
Carim Khouzami
410-470-6440

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