Exelon, Maryland in Agreement on Conowingo Dam
October 29 2019 - 12:47PM
Dow Jones News
By Michael Dabaie
Exelon Corp.'s (EXC) Exelon Generation reached a settlement
agreement with the state of Maryland on the Conowingo Dam.
Maryland Gov. Larry Hogan said the agreement settles Exelon's
legal challenges to the water quality certification issued in 2018
by Maryland.
Exelon said the benefits from the settlement to Maryland and the
Chesapeake Bay are valued at more than $200 million over the
anticipated 50-year life of the license, which will be funded from
the dam's earnings over that time period.
Exelon said it will make modifications to river flow valued at
$52 million to enhance habitat for aquatic species. The agreement
also calls for more than $47 million in funding for climate
resiliency projects and continued commitments valued at $41 million
to address debris accumulation.
The agreement must be approved by the Federal Energy Regulatory
Commission, Exelon said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 29, 2019 12:32 ET (16:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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