Maryland HB723 requires electric companies to submit cost containment plans to the Public Service Commission.

Maryland HB723 mandates that electric companies submit cost containment plans to the Public Service Commission. These plans must aim to reduce peak electric system loads by at least 20% from 2025 levels by 2030. The plans should include descriptions of ongoing and planned actions, initiatives, or projects, and an analysis of the decision-making process. The commission will review and approve, conditionally approve, or deny the plans based on their ability to meet cost containment requirements. The commission can impose fines, reduce return on equity, or deny cost recovery for non-compliance.

Maryland HB723 requires electric companies to submit cost containment plans to the Public Service Commission.

Maryland HB723 mandates that electric companies submit cost containment plans to the Public Service Commission. These plans must aim to reduce peak electric system loads by at least 20% from 2025 levels by 2030. The plans should include descriptions of ongoing and planned actions, initiatives, or projects, and an analysis of the decision-making process. The commission will review and approve, conditionally approve, or deny the plans based on their ability to meet cost containment requirements. The commission can impose fines, reduce return on equity, or deny cost recovery for non-compliance.