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Ch. 5 2006 LAWS OF MARYLAND
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RESIDENTIAL CUSTOMERS FROM THE IMPACT OF SUDDEN AND SIGNIFICANT
INCREASES IN ELECTRICITY RATES, THE COMMISSION IN THE CASE OF AN INCREASE
OF 20% OR MORE OVER THE PREVIOUS YEAR'S TOTAL ELECTRICITY RATES, SHALL
CONDUCT EVIDENTIARY PROCEEDINGS, INCLUDING PUBLIC HEARINGS.
(II) 1. A DEFERRAL OF COSTS AS PART OF A PHASED
IMPLEMENTATION OF ELECTRICITY RATES BY AN INVESTOR-OWNED ELECTRIC
COMPANY SHALL BE TREATED AS A REGULATORY ASSET TO BE RECOVERED IN
ACCORDANCE WITH A RATE STABILIZATION PLAN UNDER PART III OF THIS SUBTITLE
OR ANY OTHER PLAN FOR PHASED IMPLEMENTATION APPROVED BY THE
COMMISSION.
2. A DEFERRAL OF COSTS UNDER THIS PARAGRAPH MUST BE
JUST, REASONABLE, AND IN THE PUBLIC INTEREST.
(III) THE COMMISSION SHALL APPROVE THE RECOVERY OF
DEFERRED COSTS UNDER SUBPARAGRAPH (II) OF THIS PARAGRAPH AS:
1. LONG-TERM RECOVERY IN ACCORDANCE WITH A RATE
STABILIZATION PLAN UNDER PART III OF THIS SUBTITLE; OR
2. SHORT-TERM RECOVERY THROUGH A RATE PROCEEDING
UNDER TITLE 4 OF THIS ARTICLE MECHANISM APPROVED BY THE COMMISSION.
(IV) THE COMMISSION MAY APPROVE A PHASING IN OF INCREASED
COSTS BY:
1. PLACING A CAP ON RATES AND ALLOWING RECOVERY
OVER TIME; OR
2. ALLOWING RATES TO INCREASE AND PROVIDING FOR A
REBATE TO CUSTOMERS OF ANY EXCESS COSTS PAID.
(8) (I) THE COMMISSION, ON REQUEST BY AN ELECTRIC
COOPERATIVE OR ON ITS OWN INITIATIVE, SHALL INITIATE A PROCEEDING TO
INVESTIGATE OPTIONS FOR A RATE STABILIZATION PLAN TO ASSIST RESIDENTIAL
ELECTRIC CUSTOMERS TO GRADUALLY ADJUST TO MARKET RATES OVER AN
EXTENDED PERIOD OF TIME.
(II) IF AN ELECTRIC COOPERATIVE DETERMINES THAT TOTAL
ELECTRIC RATES FOR RESIDENTIAL CUSTOMERS ARE ANTICIPATED TO INCREASE BY
MORE THAN 20% IN A 12-MONTH PERIOD RESULTING FROM AN INCREASE IN THE
COST OF GENERATION, THE ELECTRIC COOPERATIVE SHALL SURVEY ITS
MEMBERSHIP TO DETERMINE WHETHER TO MAKE A REQUEST TO THE COMMISSION
TO INITIATE A PROCEEDING UNDER SUBSECTION (A) OF THIS SECTION.
(III) NOTWITHSTANDING SUBPARAGRAPHS (I) AND (II) OF THIS
PARAGRAPH, AS APPROVED BY THE COMMISSION, AN ELECTRIC COOPERATIVE MAY
RECEIVE A MODIFICATION IN DISTRIBUTION AND TRANSMISSION RATES.
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- 102 -
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