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S.B. 1 VETOES
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by the electric company for providing standard offer service under § 7-510(c)(3) of the
Public Utility Companies Article, which shall be deemed a an annual value of $20
million; and
(2) for a period of 10 years, a credit of the $18,661,980 annual nuclear
decommissioning charge collected, without otherwise disturbing the agreement
approved by the Maryland Public Service Commission in Order No. 75757, to be
imputed as deposits in the Nuclear Decommissioning Trust Fund and to be credited
against residential electric customer bills.
(c) The nuclear decommissioning charge described in subsection (b)(2) of this
section may not be altered during the 10-year period of the credit.
(d) Residential electric customer credits may not be recovered through electric
rates.
SECTION 7. AND BE IT FURTHER ENACTED, That:
(a) The Public Service Commission appointed in accordance with Section 12 of
this Act shall initiate an evidentiary proceeding to study and evaluate the status of
electric restructuring in the State as it pertains to the availability of competitive
generation to residential and small commercial customers and the structure,
procurement, and terms and conditions of standard offer service for residential and
small commercial customers. In its evaluation, the Commission shall consider
changes that are necessary to provide residents the benefit of a reliable electric
system at the best possible price and options for reregulation, if advisable, and to
allow electric companies to develop a portfolio of electricity supply that provides
electricity at the lowest cost with the least volatility.
(b) Among other considerations, the Commission shall consider the
implications of the following:
(1) requiring or allowing investor-owned electric companies to purchase
electricity by competitive or negotiated contracts of various durations or through
other appropriate methods to minimize price volatility;
(2) requiring or allowing investor-owned electric companies to construct
or, acquire, or lease peak-load or other generating plants and associated transmission
lines;
(3) providing a process, at the time bids by investor-owned electric
companies for electricity supply are obtained for the standard offer service, to solicit
bids for the procurement of energy efficiency and conservation measures and services
if energy efficiency and conservation measures and services are less expensive than
electricity generation;
(4) providing a process to allow investor-owned electric companies to
obtain a portion of its electricity supply for standard offer service through the
negotiation of bilateral contracts with wholesale electricity suppliers, either in
conjunction with or outside of procurement through competitive wholesale auctions;
and
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