FP&L and Constellation merger update
Baltimore civic leaders may be able to stop worrying about losing the only remaining Fortune 500 company that has its headquarters in the city. According to a recent article in the Baltimore Sun titled Utility merger could include power-sharing deal for CEOs a merged FP&L and Constellation Energy would maintain two headquarters offices, one in Juno Beach, Florida and one in Baltimore.
Since the businesses have already exisiting separations between regulated utilities and unregulated merchant power generation, there may even be room for two powerful leaders.
Once again, a journalist has reported that a major reason for FP&L’s interest in the deal is Constellation’s nuclear power assets.
“Analysts said FPL would buy Constellation primarily for its nuclear power assets and nonregulated power marketing business, which would likely expand as the primary growth engine for the combined entity.”
Whenever I see comments like that, I wonder why there are still people that insist that no investor is interested in building new nuclear power plants; after all, one of Constellation’s primary nuclear assets is its recent alliance with Areva to develop a whole fleet of new nuclear power plants.
Perhaps it is just the natural stage of denial when there is a sea change in the marketplace.