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ROBERT L. EHRLICH, JR., Governor
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Ch. 5
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ACCORDANCE WITH § 7-522 OR § 7-548 OF THIS SUBTITLE, THAT A QUALIFIED RATE
ORDER OF THE COMMISSION AUTHORIZES TO BE IMPOSED FOR THE RECOVERY OF
RATE STABILIZATION COSTS.
(F) "RATE STABILIZATION BOND" MEANS A BOND, DEBENTURE, NOTE,
CERTIFICATE OF PARTICIPATION OR BENEFICIAL INTEREST, OR OTHER EVIDENCE
OF INDEBTEDNESS OR OWNERSHIP THAT:
(1) IS AUTHORIZED IN A QUALIFIED RATE ORDER AND ISSUED UNDER
AN EXECUTED TRUST INDENTURE OR OTHER AGREEMENT OF AN ELECTRIC
COMPANY OR ASSIGNEE; AND
(2) IS SECURED BY, EVIDENCES AN OWNERSHIP INTEREST IN, OR IS
PAYABLE FROM RATE STABILIZATION PROPERTY.
(G) (1) "RATE STABILIZATION COST" MEANS A COST, LIABILITY, OR
INVESTMENT THAT AN ELECTRIC COMPANY INCURS OR WILL INCUR UNDER A RATE
STABILIZATION PLAN APPROVED BY THE COMMISSION.
(2) "RATE STABILIZATION COST" INCLUDES:
(I) THE EXCESS OF THE CONTRACTED PRICE INCURRED BY AN
ELECTRIC COMPANY FOR THE PURCHASE OF ENERGY SUPPLIES TO BE REQUIRED
FOR RETAIL CUSTOMERS TO WHOM IT PROVIDES STANDARD OFFER SERVICE, OVER
THE AMOUNTS THAT IT IS AUTHORIZED TO CHARGE CURRENTLY TO THOSE
CUSTOMERS UNDER THE RATE STABILIZATION PLAN;
(II) THE APPROVED COSTS OF ISSUING, SUPPORTING, AND
SERVICING RATE STABILIZATION BONDS; AND
(III) ANY APPROVED COSTS FOR RETIRING AND REFUNDING
EXISTING DEBT AND EQUITY SECURITIES OF THE ELECTRIC COMPANY ISSUED TO
TEMPORARILY FINANCE THOSE RATE STABILIZATION COSTS.
(H) "RATE STABILIZATION PLAN" MEANS A PLAN APPROVED BY THE
COMMISSION IN ACCORDANCE WITH THIS PART.
(I) (1) "RATE STABILIZATION PROPERTY" MEANS THE RIGHT, TITLE, AND
INTEREST OF AN ELECTRIC COMPANY OR ASSIGNEE IN A QUALIFIED RATE ORDER
(2) "RATE STABILIZATION PROPERTY" INCLUDES:
(I) ALL RIGHTS IN, TO, AND UNDER A QUALIFIED RATE ORDER,
INCLUDING THE RIGHT TO IMPOSE AND COLLECT RATE STABILIZATION CHARGES
AND RIGHTS TO REVENUES, COLLECTIONS, CLAIMS, PAYMENTS, MONEY, OR OTHER
PROPERTY AND AMOUNTS ARISING FROM THE IMPOSITION OF RATE STABILIZATION
CHARGES UNDER THE QUALIFIED RATE ORDER; AND
(II) IN THE HANDS. OF AN ASSIGNEE, THE RIGHT TO REQUIRE THE
ELECTRIC COMPANY TO PROVIDE ELECTRIC SERVICES AND TO COLLECT AND REMIT
THE QUALIFIED RATE STABILIZATION CHARGES AUTHORIZED IN THE QUALIFIED
RATE ORDER, BUT NOT THE RIGHT OR DUTY TO PROVIDE ELECTRIC SERVICES.
- 105 -
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