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Ch. 2
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Martin O'Malley, Governor
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TERMS, AND OTHER APPROPRIATE ELECTRICITY PRODUCTS AND STRATEGIES,
AS NEEDED TO MEET DEMAND IN A COST-EFFECTIVE MANNER, MAY CHOOSE TO
CONTINUE TO USE A BLENDED PORTFOLIO:
(I) WITHOUT APPROVAL OF THE COMMISSION;
(II) 1. AS APPROVED AND MODIFIED BY THE ELECTRIC
COOPERATIVE'S BOARD OF DIRECTORS; AND
(III) 2. WITH APPROPRIATE REVIEW FOR PRUDENT COST
RECOVERY AS DETERMINED BY THE COMMISSION.
(ii) THE COMMISSION MAY NOT SET OR ENFORCE A
TERMINATION DATE FOR THE PROCUREMENT OF SUPPLY THROUGH A MANAGED
PORTFOLIO PREVIOUSLY APPROVED BY THE COMMISSION.
[(8)] (9) (i) The Commission, on request by an electric cooperative
or on its own initiative, shall initiate a proceeding to investigate options for a rate
stabilization plan to assist residential electric customers to gradually adjust to market
rates over an extended period of time.
(ii) If an electric cooperative determines that total electric rates
for residential customers are anticipated to increase by more than 20% in a 12-month
period resulting from an increase in the cost of generation, the electric cooperative
shall survey its membership to determine whether to make a request to the
Commission to initiate a proceeding under subsection (a) of this section.
(iii) Notwithstanding subparagraphs (i) and (ii) of this
paragraph, as approved by the Commission, an electric cooperative may receive a
modification in distribution and transmission rates.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act is an emergency
measure, is necessary for the immediate preservation of the public health or safety,
has been passed by a yea and nay vote supported by three-fifths of all the members
elected to each of the two Houses of the General Assembly, and shall take effect from
the date it is enacted.
Approved by the Governor, March 22, 2007.
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-7-
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