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Exhibit 3(f)

                                     BY-LAWS

                                       OF

                       Baltimore Gas and Electric Company

                          Amended as of April 30, 1999
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Exhibit 3(f)

                                   By-Laws of

                       Baltimore Gas and Electric Company

                                    ARTICLE I

                            MEETINGS OF STOCKHOLDERS


Section 1. - Annual Meeting.

     The annual meeting of the stockholders for the election of Directors and
for the transaction of general business shall be held on any date during the
period of April 14 through May 13, as determined year to year by the Board of
Directors. The time and location of the meeting shall be determined by the Board
of Directors.

     The Chief Executive Officer of the Company shall prepare, or cause to be
prepared, an annual report containing a full and correct statement of the
affairs of the Company, including a balance sheet and a financial statement of
operations for the preceding fiscal year, which shall be submitted to the
stockholders at the annual meeting.

Section 2. - Special Meeting.

     Special meetings of the stockholders may be held in the City of Baltimore
or in any county in which the Company provides service or owns property upon
call by the Chairman of the Board, the President, or a majority of the Board of
Directors whenever they deem expedient, or upon the written request of the
holders of shares entitled to not less than twenty-five percent of all the votes
entitled to be cast at such a meeting. Such request of the stockholders shall
state the purpose or purposes of the meeting and the matters proposed to be
acted on the threat and shall be delivered to the Secretary, who shall inform
such stockholders of the reasonably estimated cost of preparing and mailing such
notice of the meeting, and upon payment to the company of such costs the
Secretary shall give notice stating the purpose or purposes of the meeting to
all stockholders entitled to vote at such meeting. No special meeting need be
called upon the request of the holders of the shares entitled to cast less than
a majority of all votes entitled to be cast to such meeting, to consider any
matter which is substantially the same as a matter voted upon at any special
meeting of the stockholders held during the preceding twelve months. The
business at all special meetings shall be confined to that specially named in
the notice thereof.

Section 3. - Notice of Meetings.

     Written or printed notice of every meeting of the stockholders, whether
annual or special, stating the place, day, and hour of such meeting and (in case
of special meetings) the business proposed to be transacted shall be given by
the Secretary to each stockholder entitled to vote at such meeting not less than
ten days but no more than ninety days before the date fixed for such meeting, by
depositing such notice in the United States mail addressed to him at his post
office address as it appears on the records of the Company, with postage thereon
prepaid.

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Section 4. - Organization of Meeting.

     All meetings of the stockholders shall be called to order by the Chairman
of the Board, or in his absence by the President, or in his absence by a Vice
President; or in the case of the absence of such officers, then by any
stockholder, whereupon the meeting shall organize by electing a chairman. The
Secretary of the Company, if present, shall act as Secretary of the meeting,
unless some other person shall be elected by the meeting to act. An accurate
record of the meeting shall be kept by the secretary thereof, and placed in the
record books of the Company.

Section 5. - Quorum.

     At any meeting of the stockholders the presence in person or by proxy of
stockholders entitled to cast a majority of the votes thereat shall constitute a
quorum for the transaction of business. If a quorum be not present at any
meeting, holders of a majority of the shares of stock so present or represented
may adjourn the meeting either sine die or to a date certain.

Section 6. - Voting.

     At all meetings of the stockholders each stockholder shall be entitled to
one vote for each share of common stock standing in his name and, when the
preferred or preference stock is entitled to vote, such number of votes as shall
be provided in the Charter of the Company for each share of preferred and
preference stock standing in his name, and the votes shall be cast by
stockholders in person or by lawful proxy.

Section 7. - Judge of Election and Tellers.

     The Directors shall, at a regular or special meeting, appoint a Judge of
Election and two Tellers to serve at each meeting of stockholders. If the
Directors fail to make such appointments, or if the Judge of Election and/or
Tellers, or any of them, fail to appear at the meeting, the Chairman of the
meeting shall appoint a Judge of Election and/or a Teller or Tellers to serve at
that meeting. It shall be the duty of the Tellers to receive the ballots of all
the holders of stock entitled to vote and present at a meeting either in person
or by proxy, and to count and tally said ballots by the official record of
stockholders of the Company, or by a summary prepared therefrom and certified by
the Stock Transfer Agent or the Secretary of the Company showing the number of
shares of common and, if entitled to vote, preferred and preference stock owned
of record by each stockholder, who may be designated therein by name, code
number, or otherwise, and certify them to the Judge of Election, and the said
Judge shall communicate in writing the result of the balloting so certified by
the Tellers to the Chairman who shall at once announce the same to the meeting.
This certificate, signed by the Tellers and countersigned by the Judge, shall be
duly recorded as part of the minutes of the meeting and filed among the records
of the Company.

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Section 8. - Record Date for Stockholders
             and Closing of Transfer Books.

     The Board of Directors may fix, in advance, a date as the record for the
determination of the stockholders entitled to notice of, or to vote at, any
meeting of stockholders, or entitled to receive payment of any dividend, or
entitled to the allotment of any rights, or for any other proper purpose. Such
date in any case shall not be more than ninety days (and in the case of a
meeting of stockholders not less than ten days) prior to the date on which the
particular action requiring such determination of stockholders is to be taken.
Only stockholders of record on such date shall be entitled to notice of or to
vote at such meeting or to receive such dividends or rights, as the case may be.
In lieu of fixing a record date the Board of Directors may close the stock
transfer books of the Company for a period not exceeding twenty nor less than
ten days preceding the date of any meeting of stockholders or not exceeding
twenty days preceding any other of the above mentioned events.

                                   ARTICLE II

                        BOARD OF DIRECTORS AND COMMITTEES

Section 1. - Powers of Directors

     The business and affairs of the Company shall be managed by a Board of
Directors which shall have and may exercise all the powers of the Company,
except such as are expressly conferred upon or reserved by the stockholders by
law, by Charter, or by these by-laws. Except as otherwise provided herein, the
Board of Directors shall appoint the officers for the conduct of the business of
the Company, determine their duties and responsibilities and fix their
compensation. The Board of Directors may remove any officer.

Section 2. - Number and Election of Directors.

     The number of Directors shall be set at six (6); provided, however, that
the number of Directors may be increased or decreased by the Board of Directors
without an amendment to these by-laws but in no event will be less than three
(3) Directors or more than fifteen (15) Directors; provided further, that so
long as there are less than three (3) stockholders, the number of Directors may
be less than three (3) but not less than the number of stockholders. The
Directors shall be elected at each Annual Meeting of the Stockholders except as
otherwise provided in these by-laws. They shall hold their offices for one year
and until their successors are elected and qualified.

Section 3. - Removals and Vacancies.

     The stockholders, at any meeting duly called and at which a quorum is
present, may remove any Director or Directors from Office by the affirmative
vote of the holders of a majority of the outstanding shares entitled to the vote
thereon, and may elect a successor or successors to fill any resulting vacancies
for the unexpired terms of the removed Directors.

     Any vacancy occurring in the Board of Directors from any cause other than
by reason of a removal or an increase in the number of Directors, may be filled
by a majority of the remaining Directors although such majority is less than a
quorum. Any vacancy occurring by reason of an

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increase in the number of Directors may be filled by action of a majority of
Directors. A Director elected to fill a vacancy shall hold office until the next
annual meeting of stockholders or until his successor is elected and qualified.

Section 4. - Meetings of the Board.

     A regular meeting of the Board of Directors shall be held immediately after
the annual meeting of stockholders or any special meeting of the stockholders at
which the Board of Directors is elected, and thereafter regular meetings of the
Board of Directors shall be held on such dates during the year as may be
designated from time to time by the Board. All meetings of the Board of
Directors shall be held at the general offices of the Company in the City of
Baltimore or elsewhere, as ordered by the Board. Of all such meetings (except
the regular meeting held immediately after the election of Directors) the
Secretary shall give notice to each Director personally or by telephone, by
telegram directed to, or by written notice deposited in the mails addressed to,
his residence or business address at lease 48 hours before such meeting.

     Special meetings may be held at any time or place upon the call of the
Chairman of the Board, or, the Chief Executive Officer, or in their absence, on
order of the Executive Committee by notices as above, unless the meetings be
called during the months of July and August, in which case five days' notice
shall be given. In the event three-fourths of the Directors in office waive
notice of any meeting in writing at or before the meeting, the meeting may be
held without the aforesaid advance notices.

     The Chairman shall preside at all meetings of the Board, or, in his
absence, the President, or one of the Vice Presidents (if a member of the Board)
shall preside. If at any meeting none of the foregoing persons is present, the
Directors present shall designate one of their number to preside at such
meeting.

Section 5. - Quorum.

     A majority of the Directors in office shall constitute a quorum of the
Board for the transaction of business. If a quorum be not present at any
meeting, a majority of the Directors present may adjourn to any time and place
they may see fit.

Section 6. - Committees.

     The Board of Directors is authorized to appoint from among its members such
committees as it may, from time to time, deem advisable and to delegate to such
committee or committees any of the powers of the Board of Directors which it may
lawfully delegate. Each such committee shall consist of at least two Directors.

Section 7. - Fees and Expenses.

     Each member of the Board of Directors, other than salaried Officers and
employees, shall be paid an annual retainer fee, payable in quarterly
installments, in such amount as shall be specified from time to time by the
Board.

     Each member of the Board of Directors, other than salaried Officers and
employees, shall be paid such fee as shall be specified from time to time by the
Board for attending each regular or special meeting of the Board and for
attending, as a committee member, each meeting

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of the Executive Committee, Audit Committee, Committee on Management and any
other committee appointed by the Board. Each member shall be paid reasonable
traveling expenses incident to attendance at meetings.

                                   ARTICLE III

                                    OFFICERS

Section 1. - Officers.

     The Company shall have a Chairman of the Board, a President, one or more
Vice Presidents, a Treasurer, and a Secretary who shall be elected by, and hold
office at the will of, the Board of Directors. The Chairman of the Board and the
President shall be chosen from among the Directors, and the Board of Directors
shall designate either the Chairman of the Board or the President to be the
Chief Executive Officer of the Company. The Board of Directors shall also elect
such other officers as they may deem necessary for the conduct of the business
and affairs of the Company. Any two offices, except those of President and Vice
President, may be held by the same person, but no person shall sign checks,
drafts and promissory notes, or execute, acknowledge or verify any other
instrument in more than one capacity, if such instrument is required by law, the
charter, these by-laws, a resolution of the Board of Directors or order of the
Chief Executive Officer to be signed, executed, acknowledged or verified by two
or more officers. The Chairman of the Board, President and Vice Presidents shall
receive such compensation as shall be fixed by the Board of Directors.
Compensation for officers other than the Chairman of the Board, President and
Vice Presidents shall be fixed by the Chief Executive Officer. The Board of
Directors shall require a fidelity bond to be given by each officer, or, in its
discretion, the Board may substitute a general blanket fidelity bond or
insurance contract to cover all officers and employees.

Section 2. - Duties of the Officers.

     (a)  Chairman of the Board

          The Chairman of the Board shall preside at all meetings of the Board
     of Directors and of stockholders. He shall also have such other powers and
     duties as from time to time may be assigned to him by the Board of
     Directors.

     (b)  President

          The President shall have general executive powers, as well as specific
     powers conferred by these by-laws. He, any Vice President, or such other
     persons as may be designated by the Board of Directors, shall sign all
     special contracts of the Company, countersign checks, drafts and promissory
     notes, and such other papers as may be directed by the Board of Directors.
     He, or any Vice President, together with the Treasurer or an Assistant
     Treasurer, shall have authority to sell, assign or transfer and deliver any
     bonds, stocks or other securities owned by the Company. He shall also have
     such other powers and duties as from time to time may be assigned to him by
     the Board of Directors. In the absence of the Chairman of the Board, the
     President shall perform all the duties of the Chairman of the Board.

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     (c)  Vice Presidents

          Each Vice President shall have such powers and duties as may be
     assigned to him by the Board of Directors, or the Chief Executive Officer,
     as well as the specific powers assigned by these by-laws. A Vice President
     may be designated by the Board of Directors or the Chief Executive Officer
     to perform, in the absence of the President, all the duties of the
     President.

     (d)  Treasurer

          The Treasurer shall have the care and the custody of the funds and
     valuable papers of the Company, and shall receive and disburse all moneys
     in such a manner as may be prescribed by the Board of Directors or the
     Chief Executive Officer. He shall have such other powers and duties as may
     be assigned to him by the Board of Directors, or the Chief Executive
     Officer, as well as specific powers assigned by these by-laws.

     (e)  Secretary

          The Secretary shall attend all meetings of the stockholders and
     Directors and shall notify the stockholders and Directors of such meetings
     in the manner provided in these by-laws. He shall record the proceedings of
     all such meetings in books kept for that purpose. He shall have such other
     powers and duties as may be assigned to him by the Board of Directors or
     the Chief Executive Officer, as well as the specific powers assigned by
     these by-laws.

Section 3. - Removals and Vacancies.

     Any officer may be removed by the Board of Directors whenever, in its
judgment, the best interest of the Company will be served thereby. In case of
removal, the salary of such officer shall cease. Removal shall be without
prejudice to the contractual rights, if any, of the person so removed, but
election of an officer shall not of itself create contractual rights.

     Any vacancy occurring in any office of the Company shall be filled by the
Board of Directors and the officer so elected shall hold office for the
unexpired term in respect of which the vacancy occurred or until its successor
shall be duly elected and qualified.

     In any event of absence or temporary disability of any officer of the
Company, the Board of Directors may authorize some other person to perform the
duties of that office.

                                   ARTICLE IV

                    INDEMNIFICATION OF DIRECTORS AND OFFICERS

     Each person made or threatened to be made party to an action, suit or
proceeding, whether, civil, criminal, administrative or investigative, by reason
of the fact that such person is or was a director or officer of the Company, or,
at its request, is or was a director or officer of another corporation, shall be
indemnified by the Company (to the extent indemnification is not otherwise
provided by insurance) against the liabilities, costs and expenses of every kind
actually and reasonable incurred by him as a result of such action, suit or
proceeding, or any threat thereof or any appeal thereon, but in each case only
if and to the extent permissible under

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applicable common or statutory law, state or federal. The foregoing indemnity
shall not be inclusive of other rights to which such person may be entitled.

                                    ARTICLE V

                                  CAPITAL STOCK


Section 1. - Evidence of Stock Ownership.

     Evidence of ownership of stock in the Company may be either pursuant to a
certificate(s) or a statement in compliance with Maryland law, each of which
shall represent the number of shares of stock owned by a stockholder in the
Company. Stockholders may request that their stock ownership be represented by a
certificate(s). Each certificate shall be signed on behalf of the Company by the
President or a Vice President and countersigned by the Secretary, and shall be
sealed with the corporate seal. The signatures may be either manual or
facsimile. In case any officer who signed any certificate, in facsimile or
otherwise, ceases to be such officer of the Company before the certificate is
issued, the certificate may nevertheless be issued by the Company with the same
effect as if the officer had not ceased to be such officer as of the date of its
issue.

     For stock ownership evidenced by a statement, such statement shall be in
such form, and executed, as required from time to time by Maryland law.

Section 2. - Transfer of Shares.

     Stock shall be transferable only on the books of the Company by assignment
in writing by the registered holder thereof, his legally constituted attorney,
or his legal representative, either upon surrender and cancellation of the
certificate(s) therefor, if such stock is represented by a certificate, or upon
receipt of such other documentation for stock not represented by a certificate
as the Board of Directors and Maryland law may, from time to time, require.

Section 3. - Lost, Stolen or Destroyed Certificates.

     No certificate for shares of stock of the Company shall be issued in place
of any other certificate alleged to have been lost, stolen, or destroyed, except
upon production of such evidence of the loss, theft or destruction and upon
indemnification of the Company to such extent and in such manner as the Board of
Directors may prescribe.

Section 4. - Transfer Agents and Registrars.

     The Board of Directors shall appoint a person or persons, or any
incorporated trust company or companies or both, as transfer agents and
registrars and, if stock is represented by a certificate, may require that such
certificate bear the signatures or the counter-signatures of such transfer
agents and registrars, or either of them.

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Section 5. - Stock Ledger.

     The Company shall maintain at its principal office in Baltimore, Maryland,
a stock record containing the names and addresses of all stockholders and the
numbers of shares of each class held by each stockholder.

                                   ARTICLE VI

                                      SEAL

     The Board of Directors shall provide, subject to change, a suitable
corporate seal which may be used by causing it, or facsimile thereof, to be
impressed or affixed or reproduced one the Company's stock certificates, bonds,
or any other documents on which the seal may be appropriate.

                                   ARTICLE VII

                                   AMENDMENTS

     These by-laws, or any of them, may be amended or repealed, and new by-laws
may be made or adopted at any meeting of the Board of Directors, by vote of a
majority of the Directors, or by the stockholders at any annual meeting, or at
any special meeting called for that purpose.

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