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Martin O'Malley, Governor
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Ch.4
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(e) "Qualified rate stabilization charge" means that portion of a usage-based
nonbypassable rate, charge, or similar appropriate mechanism for the provision,
availability, or termination of electric service, approved in connection with a rate
stabilization plan in 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,
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