Bromberg Rosenthal LLC
  • Search
  • 301-251-6200

Constellation and Exelon donate to Maryland science center

Approximately two months after their successful merger, Constellation Energy and Exelon Corp. have donated about $1.8 million to the Maryland Science Center, with the money intended to fund a new energy exhibit aimed at instructing visitors on the various details of energy production, distribution and consumption.

When Exelon acquired the Maryland-based Constellation in March, it agreed to sales terms obligating it to contribute $7 million to Maryland and Baltimore charities and public services and works each year, continuing a tradition established by Constellation before the merger.

The commitment, which requires the combined company to make such charitable contributions for at least 10 years following the merger's completion, was proposed by the Maryland Public Service Commission, which oversees all [business sales] and mergers in the state. In total, the company agreed to $1 billion in various concessions aimed at protecting the interests of Maryland energy consumers.

An executive with Exelon delivered an address at the Maryland Science center in which confirmed the company would deliver on its promise. "It's important for us that the mayor, the Maryland Public Service Commission and the governor know we are serious about doing what we said," explained the executive.

According to the mayor of Baltimore, the Maryland Science Center largely depends on such donations, receiving only modest public funding. Constellation has provided charitable contributions to the center for several decades, in the form of investment, membership support and corporate sponsorships.

Although the details of the new exhibit have not been determined, planned features include interactive displays on "all aspects of energy" and how it affects consumers in Maryland. When the exhibit launches in 2013, it will be the first new installation in the Maryland Science center since 2008.

Source: Baltimore Sun, "Exelon, Contellation donate $1.8M to Md. Science Center," Hannah Cho, May 15, 2012

No Comments

Leave a comment
Comment Information

Begin Here

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy