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

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