Section 7-544 – Assignees or Financing Parties Not Considered Public Service Company or Electric Supplier
An assignee or financing party may not be considered to be a public service company or an electricity supplier solely by virtue of the transactions described in this part.
Section 7-547 – Scope of Part
This part applies to an investor-owned electric company that has an obligation to provide standard offer service under § 7-510(c) of this subtitle to residential electric customers for whom rate cap or price freeze service established under a settlement agreement approved in accordance with § 7-505(d) of this subtitle expires at the end of June […]
Section 7-548 – Rate Stabilization Plans and Recovery of Costs
(a) (1) (i) Notwithstanding any other provision of this article, but subject to paragraphs (2) through (4) of this subsection, an electric company to which this part applies shall file tariffs with the Commission that implement a rate stabilization plan consistent with this part. (ii) 1. The Commission shall review the tariffs required under subparagraph (i) of this paragraph. 2. Within […]
Section 7-549 – Recovery of Actual Costs of Carrying Costs and Expenses
(a) In this section, “actual cost” means the costs and expenses deferred as regulatory assets multiplied by: (1) the electric company’s cost of debt; or (2) if the electric company secures the debt under Part III of this subtitle, the cost of the secured debt. (b) An electric company shall recover, as an additional rate stabilization cost, the actual […]
Section 7-534 – Modified or Additional Qualified Rate Orders
(a) At the request of an electric company, the Commission may modify an existing qualified rate order, or issue an additional qualified rate order, providing for the issuance of: (1) additional rate stabilization bonds for rate stabilization costs not recovered under an original qualified rate order; or (2) new rate stabilization bonds for the combined purposes of: (i) financing […]
Section 7-535 – Bond Not Debt, Liability, or Pledge of State or Governmental Unit
(a) A rate stabilization bond issued under this part is not a debt, liability, or a pledge of the full faith and credit of the State or any other governmental unit. (b) The issuance of a rate stabilization bond under this part is not directly, indirectly, or contingently a moral or other obligation of the State or […]
Section 7-536 – Permissible Provisions of Order
A qualified rate order under this part that authorizes the issuance of rate stabilization bonds may: (1) state the rights and remedies of bondholders and any assignee; and (2) contain provisions to protect and enforce the rights and remedies of bondholders and any assignee.
Section 7-537 – Rate Stabilization Property
(a) The rights and interests of an electric company or successor under a qualified rate order, including the right to impose, collect, and receive qualified rate stabilization charges authorized in the order: (1) become rate stabilization property when they are first transferred to an assignee or are pledged in connection with the issuance of rate stabilization bonds; […]
Section 7-538 – Exemption From Taxes and Charges
A transaction that involves the transfer and ownership of rate stabilization property and the receipt of rate stabilization charges are exempt from State and local income, sales, franchise, gross receipts, and other taxes or similar charges.
Section 7-539 – Status of Agreement as Sale
(a) An agreement by an electric company or assignee to transfer rate stabilization property that expressly states that the transfer is a sale or other absolute transfer signifies that: (1) the transaction is a true sale and is not a secured transaction; and (2) legal and equitable title has passed to the entity to which the rate stabilization […]