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S.B. 66
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2007 Vetoed Bills and Messages
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(3) (i) Except as provided under subparagraph (ii) of this
paragraph, any obligation of an electric company to provide standard offer service
shall cease on July 1, 2003.
(ii) 1. Electric cooperatives and municipal electric utilities
may choose to continue providing standard offer service in their respective distribution
territories and may cease offering that service after notifying the Commission at least
12 months in advance.
2. On and after July 1, 2003, an electric company
continues to have the obligation to provide standard offer service to residential and
small commercial customers at a market price that permits recovery of the verifiable,
prudently incurred costs to procure or produce the electricity plus a reasonable return.
(iii) 1. On or before December 31, 2008, and every 5 years
thereafter, the Commission shall report to the Governor and, in accordance with §
2-1246 of the State Government Article, to the General Assembly on the status of the
standard offer service, the development of competition, and the transition of standard
offer service to a default service.
2. The Commission shall establish, by order or
regulation, the definition of "default service".
(4) (i) On or before July 1, 2001, the Commission shall adopt
regulations or issue orders to establish procedures for the competitive selection of
wholesale electricity suppliers, including an affiliate of an electric company, to provide
electricity for standard offer service to customers of electric companies under
paragraph (2) of this subsection, except for customers of electric cooperatives and
municipal electric utilities. Unless delayed by the Commission, the competitive
selection shall take effect no later than July 1, 2003.
(ii) 1. Under an extension of the obligation to provide
standard offer service in accordance with paragraph (3)(ii) of this subsection, the
Commission, by regulation or order, and in a manner that is designed to obtain the
best price for residential and small commercial customers in light of market conditions
at the time of procurement and the need to protect these customers from excessive
price increases:
A. shall require each investor-owned electric company to
obtain its electricity supply for residential and small commercial customers
participating in standard offer service through a competitive process in accordance
with this paragraph; and
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- 4126 -
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