Constellation Energy Group plans to restructure to focus on generating and selling power, after announcing fourth-quarter losses of $1.4 billion.

Constellation listed merger termination and strategic alternative costs of $1.2bn in its 2008 annual results, after it rejected a merger deal with MidAmerican Energy. The merger was originally agreed in September 2008 to assuage credit concerns over Constellation's exposure to liquidity risk. Instead, Constellation sold a 49.99% stake in its nuclear