Constellation Energy on Tuesday dealt its disputes with Electricite de France, the French utility major by selling off half of the joint venture to develop new nuclear power plants. The company also withdrew its threat of exercising an option which will force EDF to buy a dozen aging fossil fuel plants from Constellation and other firms.

Power company Constellation Energy Group Inc. swung to a quarterly profit amid big gains from a recent sale of half its nuclear business as well as a 45 percent decline in costs, however, revenue missed Wall Street estimates by a large margin.

The transfer of operating licenses for Constellation Energy Group Inc. (CEG) nuclear-power plants was cleared Friday by the U. S. Nuclear Regulatory Commission to the joint venture created by the purchase of half the company's nuclear business by Electricite de France SA.