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ROBERT L. EHRLICH, JR., Governor S.B. 1
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(B) (1) THE INCREASE IN THE TOTAL RATES CHARGED TO EACH
RESIDENTIAL ELECTRIC CUSTOMER ON STANDARD OFFER SERVICE, AS COMPARED
WITH THE TOTAL RATES FOR RESIDENTIAL ELECTRIC CUSTOMERS IN EFFECT ON
JUNE 30, 2006, SHALL BE:
(I) FROM JULY 1, 2006 THROUGH MAY 31, 2007, 15% OF THE TOTAL
RATE IN EFFECT ON JUNE 30, 2006; AND
(II) FROM JUNE 1, 2007 IN AN AMOUNT DETERMINED BY THE
COMMISSION UNDER § 7 510 OF THIS SUBTITLE, AT THE OPTION OF THE CUSTOMER
TO:
1. THE FULL MARKET RATE; OR
2. AN INTERMEDIATE LEVEL UNDER AN OPT-IN
SHORT-TERM RATE STABILIZATION PLAN AS ALLOWED UNDER § 7-510(C) OF THIS
SUBTITLE WHICH WILL SMOOTH THE TRANSITION TO THE FULL MARKET RATE FOR
RESIDENTIAL CUSTOMERS WITHOUT ADVERSELY AFFECTING THE
CREDITWORTHINESS OF THE ELECTRIC COMPANY.
(2) STANDARD OFFER SERVICE FOR RESIDENTIAL ELECTRIC
CUSTOMERS SHALL BE AT FULL MARKET RATES UNDER THIS PART STARTING JUNE
JANUARY 1, 2008.
(3) A RATE STABILIZATION COST MAY NOT BE RECOVERED BEFORE
JANUARY 1, 2007.
(4) FOR PURPOSES OF CALCULATING THE RATES TO BE CHARGED
UNDER PARAGRAPH (1) OF THIS SUBSECTION, THE RATE STABILIZATION CHARGE
MAY NOT BE CONSIDERED TO BE PART OF THE TOTAL RATES CHARGED TO
RESIDENTIAL ELECTRIC CUSTOMERS.
(5) THE COMMISSION NEED NOT CONDUCT EVIDENTIARY PROCEEDINGS
UNDER § 7-510(C)(7)(I) OF THIS SUBTITLE TO DETERMINE THE SECOND OR
SUBSEQUENT PHASE OF THE TRANSITION TO FULL MARKET RATES UNDER THIS
PART.
(C) (1) THE ELECTRIC COMPANY SHALL PROVIDE EACH RESIDENTIAL
ELECTRIC CUSTOMER A DEFERRAL CREDIT EQUAL TO THE DIFFERENCE BETWEEN
THE COST INCURRED BY THE ELECTRIC COMPANY UNDER § 7-510(0(3) OF THIS
SUBTITLE AND THE RATES AUTHORIZED IN SUBSECTION (B)(1) OF THIS SECTION.
(2) (I) THE TOTAL AMOUNT OF COST RECOVERY DEFERRED THROUGH
DEFERRAL CREDITS PROVIDED TO RESIDENTIAL ELECTRIC CUSTOMERS SHALL BE A
RATE STABILIZATION COST TO BE RECOVERED AS A REGULATORY ASSET.
(II) THE TOTAL COST DEFERRED MAY BE SECURED UNDER PART III
OF THIS SUBTITLE.
(3) (I) SUBJECT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE
ELECTRIC COMPANY SHALL PERFORM A RECONCILIATION OF ANY OVERCOLLECTION
OR UNDERCOLLECTION OF THE DEFERRED COSTS AND EXPENSES RESULTING FROM
THIS RATE STABILIZATION PLAN:
- 161 -
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