Breadcrumbs
Home / MD: Energy Corp. Sues State for $386 MillionMD: Energy Corp. Sues State for $386 Million
Last Updated on Friday, 1 February 2008 03:52 Written by rslcpol Friday, 1 February 2008 01:21
Yes, even corporations have rights – hard to believe sometimes.
The law was designed to offer customers of Constellation’s Baltimore Gas & Electric Co. relief from a 72 percent rate hike. The increase followed the expiration of rate caps under the state’s 1999 deregulation of the electric industry. Constellation said it was terminating an agreement it had with the state since November 2006 not to go after the money.‘‘We have reluctantly concluded that we have no choice but to file a federal court action to enforce our rights under a nearly decade-old settlement, which has been upheld twice by Maryland courts,” said Mayo A. Shattuck III, chairman, president and CEO, in a statement.