Exelon is Approved to Buy Six Power Plants in $1.69B Deal

A company spokesperson tells GlobeSt.com that Exelon expects to complete the purchase by November. She points out that the deal involves the remaining 50.1% of the plants as Exelon already owns 49.9% of Sithe. Sithe is in the process of building two power plants at its Mystic Station in Everett and a generating unit near its power plant in Weymouth.

The purchase involves 3,800 megawatts or enough power for about 3.1 million homes. Chicago-based Exelon was created in October 2000 by the merger of PECO Energy, ofPhiladelphia, and Unicom Corporation, of Chicago. It is one of the country's largestutilities, with approximately five million electric and natural gas customers andmore than nearly $15 billion in annual revenues.