Baltimore Gas and Electric Company (BGE) and its parent holding company, Constellation Energy Group (NYSE: CEG), gained the Maryland Public Service Commission`s approval of the utility`s electric deregulation settlement. The order guarantees a six-year, average 6.5 percent base rate reduction for residential customers, and customer choice on July 1, 2000. As part of the settlement, BGE will continue to deliver electricity-regardless from whom consumers purchase it-to all 1.1 million customers throughout its service territory. BGE will also continue to ensure safety and reliability, to restore power in storms, and to provide emergency services. (New corporate strategies to follow ... CEG has big plans to reorganize on Jan.1, 2000, following the retirement of Chairman, President and CEO Edward A. Crooke.)
