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31 May 2006 -- Reuters reported that Constellation Energy Group Inc. said it stopped merger integration planning with fellow utility FPL Group Inc. because of uncertainty about whether Maryland regulators would approve the merger. State utility regulators are concerned with rate increases that affect customers.

Although the merger approval process continues, Constellation said to the news organization that "in this uncertain climate" it made more sense to focus on daily operations than on the extensive planning of a merger.

"Stopping integration activity falls short of calling off the merger, but it could be viewed as a step in that direction," Wachovia Securities analyst Samuel Brothwell said in a note to Reuters.

According to the news organization, an FPL spokesman said it also has stopped merger integration activities for now by mutual agreement with Constellation. Shares in FPL were up 1.7 percent in early trading, while Constellation shares were off 1.4 percent.

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