The new company will be called Constellation Energy and maintain headquarters in Juno Beach, Fla., and Baltimore. The merger would create a company with operations all along the U.S. East Coast with more than 30,000 megawatts of power generation and give FPL access to Constellation's merchant energy plants. The deal would expand FPL’s nuclear and coal power assets because about half of the electricity at Constellation's plants is generated by nuclear and about a third by coal. The deal would also broaden FPL's geographic reach because, in addition to its base in Maryland, Constellation controls power plants in New York, California, Illinois and Pennsylvania.
The utility companies will probably sue if the legislature intervenes to prevent the merger. Critics of the legislature's plan describe it as 'ex post facto' regulation, laws that are applied retroactively and penalize action that was legal when originally taken. The merger was initiated under existing law.