SC 13G 1 orion02.txt ORION SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No.____________)(1) Orion Power Holdings, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 686286105 -------------------------------------------------------------------------------- (CUSIP Number) December 31, 2001 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [_] Rule 13d-1(b) [_] Rule 13d-1(c) [X] Rule 13d-1(d) ---------- (1) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No.686286105 13G Page 2 of 8 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Constellation Energy Group, Inc. 52-1964611 ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 17,205,900(1) _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 17,205,900(1) _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 0 ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 17,205,900(1) ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 16.5% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Represents common stock held by wholly owned subsidiaries, Constellation Holdings, Inc. and Constellation Real Estate, Inc. and includes warrant for 705,900 shares held by Constellation Holdings, Inc. which is presently exercisable. CUSIP No.686286105 13G Page 3 of 8 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Constellation Holdings, Inc.* 52-1337857 ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 0 _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 10,705,900(1) _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 10,705,900(1) ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,705,900(1) ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.3% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Includes warrant for 705,900 shares which is presently exercisable. * Constellation Holdings, Inc. acquired these shares on December 21, 2001 from its affiliate Constellation Enterprises, Inc. CUSIP No.686286105 13G Page 4 of 8 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Constellation Real Estate, Inc.* 52-1237835 ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 0 _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 6,500,000 _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 6,500,000 ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,500,000 ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.2% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! * Constellation Real Estate, Inc. acquired these shares on December 21, 2001 from its affiliate Constellation Enterprises, Inc. CUSIP No.686286105 13G Page 5 of 8 Pages Item 1(a). Name of Issuer: Orion Power Holdings, Inc. ____________________________________________________________________ Item 1(b). Address of Issuer's Principal Executive Offices: 7 East Redwood Street, 10th Floor Baltimore, MD 21202 ____________________________________________________________________ Item 2(a). Name of Person Filing: Constellation Energy Group, Inc. Constellation Holdings, Inc. Constellation Real Estate, Inc. ____________________________________________________________________ Item 2(b). Address of Principal Business Office, or if None, Residence: 250 W. Pratt Street, Baltimore, MD 21201 ____________________________________________________________________ Item 2(c). Citizenship: Maryland ____________________________________________________________________ Item 2(d). Title of Class of Securities: Common Stock ____________________________________________________________________ Item 2(e). CUSIP Number: 686286105 ____________________________________________________________________ Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [_] Broker or dealer registered under Section 15 of the Exchange Act. (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [_] Investment company registered under Section 8 of the Investment Company Act. (e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [_] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [_] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). CUSIP No.686286105 13G Page 6 of 8 Pages Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: see below ______________________________________________________________________ (b) Percent of class: see below ______________________________________________________________________ (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote_______________________, (ii) Shared power to vote or to direct the vote_____________________, (iii) Sole power to dispose or to direct the disposition of__________, (iv) Shared power to dispose or to direct the disposition of________ Constellation Energy Group, Inc. beneficially owns through its wholly owned subsidiaries 17,205,900 shares of common stock, which includes a warrant for 705,900 shares which is presently exercisable. This represents 16.5% of issuer's common stock. Constellation Energy Group, Inc. has sole power to vote or to direct the vote of 17,205,900 shares and sole power to dispose or to direct the disposition of 17,205,900 shares. Constellation Holdings, Inc. is a wholly owned subsidiary of Constellation Energy Group, Inc. and owns 10,705,900 shares of common stock, which includes a warrant for 705,900 shares which is presently exercisable. This represents 10.3% of issuer's common stock. Constellation Holdings, Inc. has shared power to vote or to direct the vote of 10,705,900 shares and shared power to dispose or to direct the disposition of 10,705,900 shares. Constellation Real Estate, Inc. is an indirect wholly owned subsidiary of Constellation Energy Group, Inc. and owns 6,500,000 shares of common stock. This represents 6.2% of issuer's common stock. Constellation Real Estate, Inc. has shared power to vote or to direct the vote of 6,500,000 shares, and shared power to dispose or to direct the disposition of 6,500,000 shares. _______________________________________________________________________ Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities check the following [ ]. N/A _______________________________________________________________________ Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Constellation Energy Group, Inc. is the beneficial owner of 16.5% of Orion Power Holdings, Inc.'s common stock because its wholly owned subsidiaries, Constellation Holdings, Inc. and Constellation Real Estate, Inc. are the owners of 17,205,900 shares of common stock, which included a warrant for 705,900 shares which is presently exercisable. _______________________________________________________________________ Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. N/A _______________________________________________________________________ Item 8. Identification and Classification of Members of the Group. N/A _______________________________________________________________________ CUSIP No.686286105 13G Page 7 of 8 Pages Item 9. Notice of Dissolution of Group. N/A ______________________________________________________________________ Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b): "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect." (b) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(c): "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect." N/A CUSIP No.686286105 13G Page 8 of 8 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/12/02 ---------------------------------------- (Date) /s/ David A. Brune ---------------------------------------- (Signature) David A. Brune/Vice President, Secretary and General Counsel Constellation Energy Group, Inc. ---------------------------------------- (Name/Title) 2/12/02 ---------------------------------------- (Date) /s/ Dan A. Skowronski ---------------------------------------- (Signature) Dan A. Skowronski/Secretary Constellation Holdings, Inc. ---------------------------------------- (Name/Title) 2/12/02 ---------------------------------------- (Date) /s/ Donna M. Levy ---------------------------------------- (Signature) Donna M. Levy/Secretary Constellation Real Estate, Inc. ---------------------------------------- (Name/Title) Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties for whom copies are to be sent. Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).