EDF, Constellation Ties Worsen Over $2 Billion Plant Option

Electricite de France SA, Europe’s biggest power producer, offered to buy Constellation Energy Group Inc.’s stake in a venture to build U.S. nuclear plants in a sign relations between the two companies are souring.

EDF will purchase Constellation’s interest at “fair market value,” EDF said in a letter to its Baltimore-based partner yesterday. The Paris-based utility wants Constellation to then forgo an option to sell 12 non-nuclear plants to EDF for about $2 billion. The option expires in December.