DOW JONES NEWSWIRES 
 

A Baltimore Circuit Court ruled that Constellation Energy Group Inc.'s (CEG) court appeal aimed at clearing the way for its deal to sell half of its nuclear business to Electricite de France SA (EDF.FR) must wait until Maryland regulators complete their review.

In mid-June, the Maryland Public Service Commission ordered an additional review to see if the deal is in the public interest after finding the $4.5 billion agreement would give the French state-controlled company "substantial influence" over Constellation's regulated utility, Baltimore Gas & Electric Co.

"We're disappointed by today's ruling in Baltimore Circuit Court. This is not a final ruling on the merits of our appeal," the company said, adding that it still believes the deal doesn't require the agency's approval.

Constellation emphasized that EDF's investment is highly time-sensitive and needed to continue development of a third nuclear facility at the Calvert Cliffs plant.

The facility itself got approval from the Maryland Public Service Commission earlier this week. The plant - which would provide 1,600 megawatts of electricity, enough to power 1.3 million homes - is part of what is expected to be a wave of nuclear-plant construction.

In after-hours trading, Constellation shares were up 1.8% at $26.71.

-By Jay Miller, Dow Jones Newswires; 212-416-2355; jay.miller@dowjones.com