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Amendments Floated To Maryland Retail Energy Reform Bill
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The Maryland House Economic Matters Committee today held a hearing on HB 267, the retail energy reform bill
See background on the bill's provisions here
During the hearing, Del. Brian Crosby (D), vice chair of the House Economic Matters Committee and the bill's sponsor, said that certain amendments would be offered to the bill, including exempting C&I suppliers from certain of the bill's provisions or addressing the C&I market separately (including unique licensing and financial requirements for non-residential vs. residential suppliers), and an amendment that is said to preserve in some form retail energy contracts longer than 12 months (as previously reported, the bill would limit contracts to 12 months)
Language for the amendments, or further specifics, were not immediately available
During the hearing, Maryland PSC Chair Frederick Hoover reiterated to suppliers that, "you need to clean up your own shop," or face greater regulation
Hoover also said that he believes that the Maryland retail market would remain viable under the proposed bill
However, various retail energy representatives appearing at the hearing disagreed.
Travis Kavulla, VP of Regulatory Affairs for NRG Energy, said in testimony that the bill as proposed would render the Maryland market largely uninvestable for NRG, and would push out good actors
Crosby opened consideration of the bill by stating that the average SOS rate in 2022 was about 8 cents per kWh, while 2022 retail supplier average rates, based on EIA data, included suppliers with average rates of 14¢, 15¢, 17¢, 18¢, 19¢, 23¢, and 24¢
However, the Retail Energy Advancement League (REAL) recently said that, as of Dec. 31, there were 273 retail supply options listed on the state-managed website mdelectricchoice.com, with 110 offering fixed-price plans lower than the default utility rate, resulting in immediate savings for Maryland consumers.
"Potential savings for Maryland residents were estimated at $59,831,935 in December 2023 alone, highlighting the tangible benefits of the existing competitive market," REAL recently said
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PSC Chair Tells Industry To Clean Up Own Shop, Says Market Would Remain Viable Under Proposed Bill
February 15, 2024
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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