BALTIMORE, Jan. 31 (UPI) -- Constellation Energy Group Thursday announced its intention to sue the state of Maryland to recover $386 million in credits awarded ratepayers since 1999.
The conglomerate accused Maryland's Public Service Commission of jeopardizing Constellation's commitment to invest billions in energy infrastructure in the state, The Baltimore Sun reported.
The lawsuit was filed a day after Constellation indicated the corporation was considering construction of a nuclear power in New York state, instead of Maryland.
The dispute began after Baltimore Gas & Electric, a Constellation subsidiary, raised rates 72 percent in 1999. The political reaction gave rise to the credits, which BG&E has been forced to provide ratepayers.
BG&E's fourth quarter profits in 2007 were $258.1 million, provoking a quick response from Gov. Martin O'Malley.
"I think its outrageous that on the same day they announce huge profits, they turn around and try to shift $386 million in costs onto ratepayers," O'Malley said.
