Update: New Price Cap On Green Power Under Maryland Reform Bill, Passes 2nd Reading -- EnergyChoiceMatters.com

Update: New Price Cap On Green Power Under Maryland Reform Bill, Passes 2nd Reading

March 28, 2024

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Text for the House committee amendments to Maryland SB0001 have been published

As noted yesterday, one of the amendments created a more extensive process for PSC review of retail supplier green power plans which, originally, would not be subject to the SOS-based price cap, but which would require PSC approval for suppliers to offer such green plans

While not discussed verbally in summarizing the amendment during a committee meeting yesterday, this amendment concerning PSC review of suppliers' green power plans does include a new price cap not previously included in the bill

Specifically, although the PSC could approve a higher price -- only upon a showing that a supplier's actual cost for green power exceeds the bill's new cap -- the PSC under the amended bill would otherwise be prohibited from approving a supplier green power plan that has a price that exceeds 150% of the bill's price cap applicable to standard power (e.g. the 12-month trailing average SOS rate)

The bill also sets up a convoluted process for PSC review of green power plans, which includes the establishment of a general rate for green power plans that the PSC could authorize, but with the allowance for suppliers to seek approval of a rate other than the PSC-set rate

The bill, with the House committee's amendments, passed 2nd reading in the House and awaits action on 3rd reading

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