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VETOES
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S.B. 1
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(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.
7-521.
THIS PART APPLIES TO AN ELECTRIC COMPANY THAT:
(1) HAS AN OBLIGATION TO PROVIDE STANDARD OFFER SERVICE TO
RESIDENTIAL ELECTRICITY CUSTOMERS IN ACCORDANCE WITH § 7-510(C) OF THIS
SUBTITLE; AND
(2) IS NOT SUBJECT TO A RATE CAP OR PRICE FREEZE UNDER § 7-505(D)
OF THIS SUBTITLE DURING THE PERIOD FOR WHICH A RATE STABILIZATION PLAN IS
REQUESTED UNDER THIS PART.
7-522.
(A) AN ELECTRIC COMPANY SUBJECT TO THIS PART MAY FILE A RATE
STABILIZATION PLAN WITH THE COMMISSION FOR APPROVAL.
(B) THE RATE STABILIZATION PLAN MAY INCLUDE BOTH SHORT-TERM AND
LONG-TERM DEFERRALS OF INCREMENTAL EXPENSES OF ELECTRICITY SUPPLIES.
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- 150 -
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