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Ch. 5 2006 LAWS OF MARYLAND
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is not competitive or that no acceptable competitive proposal has been received to
supply electricity to those customers described under paragraph (2) of this subsection,
the Commission shall extend]
2. ON AND AFTER JULY 1, 2003, AN ELECTRIC COMPANY
CONTINUES TO HAVE the obligation to provide standard offer service to residential
and small commercial customers at a market price that permits recovery of the
verifiable, prudently incurred costs to procure or produce the electricity plus a
reasonable return.
[2. The Commission shall reexamine the finding made under
this subparagraph at least annually.]
(III) 1. ON OR BEFORE DECEMBER 31, 2008, AND EVERY 5 YEARS
THEREAFTER, THE COMMISSION SHALL REPORT TO THE GOVERNOR AND, IN
ACCORDANCE WITH § 2-1246 OF THE STATE GOVERNMENT ARTICLE, TO THE
GENERAL ASSEMBLY ON THE STATUS OF THE STANDARD OFFER SERVICE, THE
DEVELOPMENT OF COMPETITION, AND THE TRANSITION OF STANDARD OFFER
SERVICE TO A DEFAULT SERVICE.
2. THE COMMISSION SHALL ESTABLISH, BY ORDER OR
REGULATION, THE DEFINITION OF "DEFAULT SERVICE".
(4) (I) On or before July 1, 2001, the Commission shall adopt
regulations or issue orders to establish procedures for the competitive selection of
WHOLESALE electricity suppliers, including an affiliate of an electric company, to
provide ELECTRICITY FOR standard offer service to customers of electric companies
under paragraph (2) of this subsection, except for customers of electric cooperatives
and municipal electric utilities. Unless delayed by the Commission, the competitive
selection shall take effect no later than July 1, 2003.
(II) 1. UNDER AN EXTENSION OF THE OBLIGATION TO PROVIDE
STANDARD OFFER SERVICE IN ACCORDANCE WITH PARAGRAPH (3)(II) OF THIS
SUBSECTION, THE COMMISSION, BY REGULATION OR ORDER, AND IN A MANNER
THAT IS DESIGNED TO OBTAIN THE BEST PRICE FOR RESIDENTIAL AND SMALL
COMMERCIAL CUSTOMERS IN LIGHT OF MARKET CONDITIONS AT THE TIME OF
PROCUREMENT AND THE NEED TO PROTECT THESE CUSTOMERS FROM EXCESSIVE
PRICE INCREASES:
A. SHALL REQUIRE EACH INVESTOR-OWNED ELECTRIC
COMPANY TO OBTAIN ITS ELECTRICITY SUPPLY FOR RESIDENTIAL AND SMALL
COMMERCIAL CUSTOMERS PARTICIPATING IN STANDARD OFFER SERVICE THROUGH
A COMPETITIVE PROCESS IN ACCORDANCE WITH THIS PARAGRAPH; AND
B. MAY REQUIRE OR ALLOW AN INVESTOR-OWNED
ELECTRIC COMPANY TO PROCURE ELECTRICITY FOR THESE CUSTOMERS DIRECTLY
FROM AN ELECTRICITY SUPPLIER THROUGH ONE OR MORE BILATERAL CONTRACTS
OUTSIDE THE COMPETITIVE PROCESS.
2. A. AS THE COMMISSION DIRECTS, THE COMPETITIVE
PROCESS SHALL INCLUDE A SERIES OF COMPETITIVE WHOLESALE BIDS IN WHICH
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