(II) THE AMOUNT OF TRANSITION COSTS OR BENEFITS ARISING
FROM THE GENERATION TO BE TRANSFERRED HAS BEEN FINALLY DETERMINED BY
THE COMMISSION UNDER § 7-513(A) THROUGH (C) OF THIS SUBTITLE.

(2) THE COMMISSION MAY REVIEW AND APPROVE THE TRANSFER FOR
THE SOLE PURPOSE OF DETERMINING:

(I) THAT THE APPROPRIATE ACCOUNTING HAS BEEN FOLLOWED;

(II) THAT THE TRANSFER DOES NOT OR WOULD NOT RESULT IN AN
UNDUE ADVERSE EFFECT ON THE PROPER FUNCTIONING OF A COMPETITIVE
ELECTRICITY SUPPLY MARKET; AND

(III) THE APPROPRIATE TRANSFER PRICE AND RATE MAKING
TREATMENT.    

(3) THE COMMISSION SHALL ACT ON THE TRANSFER OF A GENERATION
FACILITY OR GENERATION ASSET UNDER THIS SUBSECTION WITHIN 180 DAYS
AFTER THE ELECTRIC COMPANY FILES ITS PROPOSED TRANSFER APPLICATION AND
ANY REQUIRED SUPPORTING INFORMATION.

7-509.

(A) (1) ON AND AFTER THE INITIAL IMPLEMENTATION DATE, THE
GENERATION, SUPPLY, AND SALE OF ELECTRICITY, INCLUDING ALL RELATED
FACILITIES AND ASSETS, MAY NOT BE REGULATED AS AN ELECTRIC COMPANY
SERVICE OR FUNCTION EXCEPT TO:

(I) ESTABLISH THE PRICE FOR STANDARD OFFER SERVICE UNDER
§ 7-510(C) OF THIS SUBTITLE; AND

(II) REVIEW AND APPROVE TRANSFERS OF GENERATION ASSETS
UNDER § 7-508 OF THIS SUBTITLE.

(2) THIS SUBSECTION DOES NOT APPLY TO:

(I) REGULATION OF AN ELECTRICITY SUPPLIER UNDER § 7-507 OF
THIS SUBTITLE; OR

(II) THE COSTS OF NUCLEAR GENERATION FACILITIES OR
PURCHASED POWER CONTRACTS THAT, AS PART OF A SETTLEMENT APPROVED BY
THE COMMISSION, REMAIN REGULATED OR ARE RECOVERED THROUGH THE
DISTRIBUTION FUNCTION.

(B) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, THIS SECTION
DOES NOT APPLY TO AN INVESTOR-OWNED ELECTRIC COMPANY UNTIL THE
ELECTRIC COMPANY:

(I) TRANSFERS GENERATION FACILITIES AND GENERATION
ASSETS TO AN AFFILIATE OF THE ELECTRIC COMPANY, AND THE AFFILIATE
OPERATES THE FACILITIES AND ASSETS; OR