Constellation appeal in EDF deal must wait-judge

*Dismissal without prejudice allows refile of appeal

*Maryland regulators can continue scrutinizing deal

LOS ANGELES, July 2 (Reuters) - A Maryland judge ruled on Thursday that Constellation Energy Group (CEG.N) must wait to file an appeal to speed up the sale of about half its nuclear assets to Electricite de France SA (EDF.PA) (EDS) until after state regulators have vetted the $4.5 billion deal.

Baltimore Circuit Court Judge Stuart Berger granted the Maryland Public Service Commission's motion to dismiss the case, finding that the court does not have jurisdiction until after the commission reviews the deal.

The dismissal without prejudice allows Constellation to refile the appeal at a later time.

In a statement, Constellation said it was disappointed in the ruling and was exploring its options.

"We continue to believe there is strong legal merit to our position that Maryland Public Service Commission approval of Constellation Energy's pending nuclear joint venture with EDF Group is not required as a matter of law," the statement said.

Constellation and EDF had asked the court to review a June 11 Public Services Commission decision that the deal was subject to commission pre-approval.

The two companies contend that a 2008 state law exempts the deal from commission review. Constellation and EDF argued, among other things, that the delay posed by the review would place in "grave jeopardy" a deal they want closed by Sept. 17.

The commission was concerned, however, about EDF's power to influence the policies and actions of Constellation subsidiary Baltimore Gas & Electric Co.

Under the terms of the proposed transaction, a wholly owned subsidiary of EDF would acquire a 49.9 percent stake in Constellation Energy Nuclear Group LLC, which owns five nuclear plants in Southern Maryland and upstate New York.

The deal is awaiting approval by the federal Nuclear Regulatory Commission, but has received a go-ahead from the Federal Energy Regulatory Commission and the Committee on Foreign Investment in the United States.

EDF and Constellation already have a partnership called UniStar Nuclear Energy, whose mission is to develop new nuclear power plants.

The case is Constellation Energy Group v. Maryland Public Service Commission et al, Case No. 24-c-09-003720, Circuit Court for Baltimore. (Reporting by Gina Keating; Editing Bernard Orr)