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Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Constellation to Spin Off BG&E

LCG, Oct. 24, 2000--Constellation Energy Group, parent of the Baltimore Gas & Electric Co. utility and of Constellation Enterprises Inc., said yesterday it would spin off BG&E, its retail energy services unit, in a move designed to enhance Constellation's merchant power business.

The move will create two stand-alone, publicly traded energy companies headquartered in Maryland, the company said in a press release. One of them, BG&E, will continue to do business in regional retail energy and energy services and will be chaired by Edward Crooke, who is returning after taking an early retirement as Constellation's vice chairman last January.

"Constellation Energy Group is creating two strategically strong energy companies that will both beheadquartered in Maryland -- each one will be an attractive investment opportunity in the energysector," said Christian H. Poindexter, chairman and chief executive.

Constellation will focus on wholesale power marketing and generating in North America. Its goal will be to establish control over more than 30,000 megawatts of electrical generating capacity by 2005, with the objective of annual earnings growth between 20 and 25 percent.

Goldman Sachs has agreed to take up to a 17.5 percent stake in the merchant energy business after the separation in exchange for $250 million and certain assets related to its power marketing and trading business, and will also help develop Constellation's natural gas trading and marketing operations.

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