UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K
                                ----------------



                                 CURRENT REPORT



                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934



     Date of Report (Date of earliest event reported): December 23, 1997
                                                      (December 19, 1997)




                       BALTIMORE GAS AND ELECTRIC COMPANY
             (Exact name of registrant as specified in its charter)




               Maryland                 1-1910              52-0280210
      ---------------------------------------------------------------------
      (State of incorporation)      (Commission        (IRS Employer
                                   File Number)        Identification No.)




           39 W. Lexington Street  Baltimore,Maryland       21201
          ------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)




                                 410-783-5920
             (Registrant's telephone number, including area code)




                                 Not Applicable
  (Former name, former address and former fiscal year, if changed since last
                                   report)

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ITEM 5.  Other Events
- ---------------------

     As  previously  disclosed,  in September  1995 we agreed with a neighboring
utility,  Potomac Electric Power Company,  to merge together into a new company,
Constellation Energy Corporation,  after all necessary regulatory approvals were
received.

     On December 22, 1997,  both companies  announced they were  terminating the
merger  agreement.  Please  refer to the press  release that is attached to this
Report on Form 8-K as Exhibit 99 for details about the decision to terminate the
merger agreement.  The Termination  Agreement,  dated December 19, 1997, is also
attached to this report as Exhibit 2(a).



ITEM 7. Financial Statements and Exhibits
- -----------------------------------------

       (c)   Exhibit No. 2*            Registration Statement on Form S-4 of
                                       Constellation Energy Corporation, as
                                       amended, which became effective
                                       February 9, 1996, Registration No.
                                       33-64799.

             Exhibit No. 2(a)          Termination Agreement by and among
                                       Baltimore Gas and Electric Company,
                                       Potomac Electric Power Company, and
                                       Constellation Energy Corporation dated
                                       December 19, 1997.

             Exhibit No. 99            News Release of Baltimore Gas and
                                       Electric Company and Potomac Electric
                                       Power Company dated December 22, 1997.

      *Incorporated by Reference.













                                    SIGNATURE


      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                              BALTIMORE GAS AND ELECTRIC COMPANY
                                                           (Registrant)


Date  December 23, 1997                                  /s/  D. A. Brune
     -------------------                           -----------------------------

                                                    D. A. Brune, Vice President
                                                 on behalf of the Registrant and
                                                  as Principal Financial Officer


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                                  EXHIBIT INDEX

         Exhibit
         Number
         ------

            2*                   Registration   Statement   on   Form   S-4   of
                                 Constellation  Energy Corporation,  as amended,
                                 which  became   effective   February  9,  1996,
                                 Registration No. 33-64799.

           2(a)                  Termination  Agreement  by and among  Baltimore
                                 Gas  and  Electric  Company,  Potomac  Electric
                                 Power   Company,   and   Constellation   Energy
                                 Corporation dated December 19, 1997.

            99                   News Release of Baltimore Gas and Electric
                                 Company and Potomac Electric Power Company
                                 dated December 22, 1997.

      *Incorporated by Reference.


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