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Ch. 2
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2007 Laws of Maryland
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(6) In order to meet long-term, anticipated demand in the State for
standard offer service and other electricity supply, the Commission may require or
allow an investor-owned electric company to construct, acquire, or lease, and operate,
its own generating facilities, and transmission facilities necessary to interconnect the
generating facilities with the electric grid, subject to appropriate cost recovery.
(7) (i) To determine whether an appropriate phased
implementation of electricity rates that is necessary to protect residential customers
from the impact of sudden and significant increases in electricity rates, the
Commission in the case of an increase of 20% or more over the previous year's total
electricity rates, shall conduct evidentiary proceedings, including public hearings.
(ii) 1. A deferral of costs as part of a phased implementation
of electricity rates by an investor-owned electric company shall be treated as a
regulatory asset to be recovered in accordance with a rate stabilization plan under
Part III of this subtitle or any other plan for phased implementation approved by the
Commission.
2. A deferral of costs under this paragraph must be just,
reasonable, and in the public interest.
(iii) The Commission shall approve the recovery of deferred costs
under subparagraph (ii) of this paragraph as:
1. long-term recovery in accordance with a rate
stabilization plan under Part III of this subtitle; or
2. short—term recovery through a rate proceeding
mechanism approved by the Commission.
(iv) The Commission may approve a phasing in of increased
costs by:
1. placing a cap on rates and allowing recovery over
time; or
2. allowing rates to increase and providing for a rebate
to customers of any excess costs paid.
(8) (I) AN ELECTRIC COOPERATIVE THAT AS OF JULY 1, 2006,
SUPPLIED ITS STANDARD OFFER SERVICE LOAD THROUGH A PORTFOLIO OF
BLENDED WHOLESALE SUPPLY CONTRACTS OF SHORT, MEDIUM, AND LONG
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-6-
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