Who Owns Baltimore Gas and Electric?
Baltimore Gas and Electric (BGE) is owned by Exelon Corporation, a publicly traded American electric utility holding company. BGE operates as Exelon's primary subsidiary in Maryland, providing electricity to over 1.25 million customers and natural gas to over 650,000 customers. The company is headquartered in Baltimore, Maryland.
Parent Company
Unknown
Acquired
1999
Status
Publicly Traded
Headquarters
Baltimore, Maryland, USA
Who Owns Baltimore Gas and Electric?
History of Baltimore Gas and Electric
- Founded: 1816
- Founders: Baltimore Gas and Electric Company (internal development)
- Acquired by : 1999
Baltimore Gas and Electric Company was founded in 1816, making it one of the oldest utility companies in the United States. The company grew to become a major electric and natural gas utility serving the Baltimore metropolitan area and central Maryland.
BGE operated as an independent utility for much of its history before becoming part of Constellation Energy Group. In 2012, Exelon acquired Constellation Energy Group, bringing BGE into the Exelon family of utilities. This acquisition significantly expanded Exelon's presence in the Mid-Atlantic region.
Under Exelon's ownership, BGE has invested substantially in infrastructure modernisation, grid reliability improvements, and customer service enhancements. The company has implemented advanced metering infrastructure, smart grid technology, and distribution automation systems. BGE continues to support the clean energy transition through investments in renewable energy integration, energy efficiency programs, and electric vehicle charging infrastructure.
About
What does Exelon own?
Exelon owns a portfolio of six regulated utility subsidiaries including ComEd (Illinois), PECO Energy (Pennsylvania), Baltimore Gas and Electric (Maryland), Pepco (Washington, D.C. and Maryland), Delmarva Power (Delaware and Maryland), and Atlantic City Electric (New Jersey). The company operates as a comprehensive utility holding company providing electric and natural gas services to over 10 million customers across the Mid-Atlantic and Northeast regions through its extensive distribution networks and infrastructure.
Is Exelon publicly traded?
Yes, Exelon is publicly traded on the NASDAQ stock exchange under ticker symbol EXC. The company has been publicly traded since its formation in 2000 and is owned by institutional and individual shareholders worldwide.
Who founded Exelon?
Exelon was founded in October 2000 through the merger of PECO Energy Company (founded 1902) and Unicom Corporation (parent of Commonwealth Edison, founded 1907). The merger combined two major utility companies with significant operational histories.
Where is Exelon headquartered?
Exelon is headquartered in Chicago, Illinois, USA, where it has been based since its founding. The company maintains operational centers and facilities across its service territories in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and Washington, D.C.
How many brands does Exelon own?
Exelon owns 6 regulated utility subsidiaries: ComEd, PECO Energy, Baltimore Gas and Electric, Pepco, Delmarva Power, and Atlantic City Electric. Each utility operates as a distinct brand in its geographic service territory while remaining under Exelon's strategic direction.
Who owns Exelon?
Exelon is publicly owned with no controlling shareholder. Ownership is distributed among institutional investors, mutual funds, pension funds, and individual shareholders worldwide through NASDAQ trading. The company operates independently with oversight from its board of directors and executive leadership team.
What is Exelon's revenue?
Exelon reported approximately $21.8 billion in revenue for fiscal year 2024, generating income primarily through regulated electric and natural gas distribution services across its six utility subsidiaries serving over 10 million customers.
What controversies has Exelon faced?
Exelon has faced controversies including environmental compliance issues related to carbon emissions and fossil fuel generation, rate setting and regulatory approval processes with state utility commissions, infrastructure reliability concerns following weather events, environmental justice issues regarding equitable energy access and infrastructure placement, and regulatory complexity across multiple jurisdictions for utility operations.
- Founded:
- Headquarters:
- Company Type: Privately Held
Where Is Baltimore Gas and Electric Made / Based?
- Headquarters: Baltimore, Maryland, USA
- Manufacturing / Operations: United States
Baltimore Gas and Electric Sustainability & Ethics
Baltimore Gas and Electric demonstrates strong commitment to environmental sustainability through grid modernization, renewable energy integration, and community-focused initiatives as Maryland's largest utility serving over 1.3 million electric and 700,000 natural gas customers.
Grid Modernization and Smart Technology: BGE has invested significantly in Distribution Automation technology that prevents and reduces power outage durations. The company's smart grid infrastructure includes reclosers that act like circuit breakers for the grid, automatically opening and closing to isolate faults and restore service more quickly. This technology has improved reliability and reduced customer outage times.
Renewable Energy Integration: BGE supports Maryland's clean energy goals through renewable energy integration and grid resilience projects. In 2024, BGE was awarded a $50 million grant for grid resilience projects and community microgrids, demonstrating leadership in sustainable infrastructure development. The company participates in Maryland's Renewable Portfolio Standard, which requires increasing percentages of renewable energy in the state's electricity mix.
Infrastructure Modernization: BGE has implemented innovative trenchless technology to replace aging gas mains without extensive excavation, reducing environmental impact and community disruption. The company's 150-year-old infrastructure replacement programs use modern techniques that minimize surface disturbance and reduce construction-related emissions.
Energy Efficiency Programs: BGE offers comprehensive energy efficiency programs for residential and business customers, including rebates for energy-efficient appliances, lighting upgrades, and weatherization assistance. These programs help customers reduce energy consumption and lower utility bills while supporting Maryland's energy efficiency goals.
Environmental Compliance: BGE maintains strict environmental compliance across its operations, following federal and state regulations for air quality, water protection, and waste management. The company's environmental management systems are designed to minimize ecological impact while providing reliable utility services.
Community Engagement: BGE actively engages with Maryland communities through educational programs, local partnerships, and charitable initiatives focused on energy education, workforce development, and community sustainability projects.
Awards & Recognition
Baltimore Gas and Electric has received significant recognition for its grid innovation, community leadership, and contributions to Maryland's energy infrastructure modernization.
$50 Million Grid Resilience Grant: In 2024, BGE was awarded a substantial $50 million grant from the Maryland Energy Administration for grid resilience projects and community microgrids. This grant recognition highlights BGE's leadership in developing sustainable energy infrastructure and community resilience solutions.
Innovation in Infrastructure Technology: BGE has been recognized for implementing innovative trenchless technology to replace aging gas mains, particularly the successful replacement of a 150-year-old gas main under East Baltimore. This approach minimizes community disruption and demonstrates environmental leadership in utility infrastructure management.
Smart Grid Leadership: BGE's Distribution Automation and smart grid technology have been recognized within the utility industry for improving reliability and reducing outage durations. The company's proactive approach to grid modernization has positioned it as a leader among U.S. utilities in adopting advanced grid technologies.
Community Partnership Recognition: BGE's community-owned microgrid projects and partnerships with local organizations have received recognition for addressing energy equity and community resilience. These projects demonstrate BGE's commitment to serving all Maryland communities, including underserved areas.
Workforce Development Excellence: BGE's approximately 3,400 employees have been recognized for their commitment to safe and reliable service delivery. The company's workforce training programs and safety records have earned industry acknowledgment for operational excellence.
Longevity and Service Recognition: As Maryland's largest gas and electric utility with operations dating back to 1816, BGE has been recognized for its long-standing commitment to Maryland communities and its role in the state's economic development.
Baltimore Gas and Electric Recalls & Controversies
BGE has faced significant customer service challenges and regulatory scrutiny in 2024-2025, particularly regarding call center performance and billing issues, though no major safety incidents or product recalls have been reported.
Call Center Service Crisis: In 2024, BGE experienced severe call center problems that led to hundreds of customer complaints and regulatory intervention. The Maryland Public Service Commission held hearings to investigate BGE's call center issues, which included long wait times, dropped calls, and inadequate customer service response. The PSC subsequently issued an order directing BGE to take specific steps to improve call center operations.
Customer Service Struggles: Maryland regulators indicated in December 2025 that BGE's customer service struggles could indicate systemic problems within the company's operations. The regulatory expert testimony highlighted that 2025 was particularly challenging for customers facing affordability pressures, compounding the impact of service deficiencies.
Billing and Database Issues: BGE faced a significant database problem from May 2024 to July 2025 that prevented the company from sending account-level data to Baltimore City for electric delivery fees. During this period, BGE notified the City that they would not bill for electric delivery fees due to the technical issues. An audit later found that BGE had overcharged Baltimore $670,000 due to incorrect payments resulting from the database problems.
Regulatory Oversight: The Maryland Public Service Commission has increased oversight of BGE operations due to the customer service issues. The commission has required BGE to submit improvement plans and regular progress reports on addressing the systemic problems identified in the call center and billing systems.
Community Opposition: Residents from Baltimore City's Remington neighborhood have opposed BGE's plan to install an overhead transmission line in their community, demonstrating local resistance to infrastructure projects. This opposition reflects broader community concerns about utility infrastructure placement and environmental impact.
Safety Record: Despite the customer service issues, BGE has maintained a strong safety record with no major safety incidents reported in 2024-2025. The company's operational safety performance remains consistent with industry standards for utility companies.
Baltimore Gas and Electric Ownership: Pros & Cons
Advantages
- +Access to Exelon's financial resources and operational expertise
- +Investment in infrastructure modernisation and grid reliability improvements
- +Integration with largest regulated utility company in the United States
- +Strong focus on customer service and operational excellence
- +Support for clean energy transition and renewable energy integration
- +Operational stability backed by Exelon's financial strength and experience
Considerations
- -Regulatory oversight from Maryland Public Service Commission
- -Dependency on parent company strategic decisions and capital allocation
- -Integration challenges managing Maryland-specific market conditions and regulations
- -Environmental compliance requirements across service territory
- -Exposure to weather-related impacts on customer demand and operations
- -Rate regulation limiting pricing flexibility
- -Political and regulatory risk in Maryland
Frequently Asked Questions About Baltimore Gas and Electric
Sources & Further Reading
Competitors to Baltimore Gas and Electric
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