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Session Laws, 2006
Volume 750, Page 2650   View pdf image
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2006 LAWS OF MARYLAND
Ch. 537
(1)     provides gas or electric services; (2)     is subject to a cost allocation manual approved by the Commission; (3)     (i) engages in an unregulated business activity; or (ii) has a subsidiary that engages in an unregulated business
activity; and (4)     does not meet the standards for rate proceedings provided for under §
4-207 of this subtitle. (b) (1) [When a] A public service company subject to this section SHALL
FILE AN INDEPENDENT AUDIT OPINION PREPARED BY AN ENTITY APPROVED BY THE
COMMISSION ON THE EARLIEST OF: (I)      ONCE EVERY 2 YEARS; OR (II)     WHEN THE PUBLIC SERVICE COMPANY: 1.       files a request for a change in its base rate under this
subtitle[,]; or 2.       has a major change in its corporate organization or
structure as determined by the Commission!!, the public service company shall file
with the request an independent audit opinion prepared by an entity approved by the
Commission that: (1)     certifies to the continuing accuracy of the public service company's
cost allocation manual; or (2)     identifies adjustments that should be made to the manual consistent
with prior Commission rulings]. (2) THE INDEPENDENT AUDIT OPINION AUDITOR SHALL: (I) STATE THAT THE INDEPENDENT AUDITORS HAVE DETERMINED
WHETHER: 1. THE PUBLIC SERVICE COMPANY HAS COMPLIED WITH
THE POLICIES AND PROCEDURES OF THE PUBLIC SERVICE COMPANY'S COST
ALLOCATION MANUAL; AND 2. THERE WERE COSTS THAT WERE NOT ALLOCATED TO AN
AFFILIATE OF THE PUBLIC SERVICE COMPANY THAT SHOULD HAVE BEEN
ALLOCATED TO AN AFFILIATE IN ACCORDANCE WITH THE MANUAL; (II) STATE WHETHER THE ACTUAL COSTS AND TRANSACTIONS
RELATIVE TO THE MANUAL HAVE BEEN APPROPRIATELY CHARGED TO THE PUBLIC
SERVICE COMPANY AND ITS AFFILLIATES; AND (III) IDENTIFY ADJUSTMENTS THAT SHOULD BE MADE TO THE
MANUAL CONSISTENT WITH EARLIER COMMISSION RULINGS. - 2650 -


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Session Laws, 2006
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