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VETOES
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S.B.I
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(3) (I) IF THE COMMISSION FINDS THAT THE ACQUISITION IS
CONSISTENT WITH THE PUBLIC INTEREST, CONVENIENCE, AND NECESSITY, AN©
DOES NO HARM INCLUDING BENEFITS AND NO HARM TO CONSUMERS, THE
COMMISSION SHALL ISSUE AN ORDER GRANTING THE APPLICATION.
(II) THE COMMISSION MAY CONDITION AN ORDER AUTHORIZING
THE ACQUISITION ON THE APPLICANTS SATISFACTORY PERFORMANCE OR
ADHERENCE TO SPECIFIC REQUIREMENTS.
(4) IF THE COMMISSION DOES NOT FIND THAT THE ACQUISITION IS
CONSISTENT WITH THE PUBLIC INTEREST, CONVENIENCE, AND NECESSITY, OR THAT
THE ACQUISITION WOULD NOT HARM INCLUDING BENEFITS AND NO HARM TO
CONSUMERS, THE COMMISSION SHALL ISSUE AN ORDER DENYING THE
APPLICATION.
(5) THE APPLICANT BEARS THE BURDEN OF SHOWING THAT GRANTING
THE ACQUISITION IS CONSISTENT WITH THE PUBLIC INTEREST, CONVENIENCE, AND
NECESSITY, AND DOES NO HARM INCLUDING BENEFITS AND NO HARM TO
CONSUMERS.
(G) NOTHING IN THIS SECTION PROHIBITS DISSEMINATION BY ANY PARTY OF
INFORMATION CONCERNING THE ACQUISITION IF THE DISSEMINATION DOES NOT
OTHERWISE CONFLICT WITH FEDERAL OR STATE LAW.
SECTION 4. AND BE IT FURTHER ENACTED, That any approval by the
Public Service Commission of a merger between FPL Group, Inc., and Constellation
Energy Group, Inc., pending as of the effective date of this Act must include the
following conditions:
(1) the transaction may not allow merger transaction does not provide
for the transfer of facilities between Florida Power & Light Company or Baltimore
Gas and Electric Company and an associate company;
(2) the transaction may not allow merger transaction does not provide
for the new issuances of securities by Florida Power & Light Company or Baltimore
Gas and Electric Company for the benefit of an associate company;
(3) the transaction may not allow merger transaction does not provide
for new pledges or encumbrances of assets of Florida Power & Light Company or
Baltimore Gas and Electric Company for the benefit of an associate company;
(4) the transaction may not allow merger transaction does not provide
for new affiliate contracts between nonutility associate companies and Florida Power
& Light Company or Baltimore Gas and Electric Company, other than for goods and
services subject to review under §§ 205 and 206 of the Federal Power Act; and
(5) any savings realized as a result of the merger must be applied in part
to the elimination of carrying charges and the delay of increases in residential electric
rates approved by the Public Service Commission in Case No. 9052 or successor
proceedings.
SECTION 5. AND BE IT FURTHER ENACTED, That:
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