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Maryland Gov. Signs Retail Market Reform Bill
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Maryland Governor Wes Moore will sign SB 1, the retail energy market reform bill, according to a list of bill signings on the governor's website
The governor's website lists SB 1 under bill signings, with a date of May 09, 2024
See full details of the bill's provisions here
The bill provides that a residential electricity supplier may only offer electricity, other than green power as defined in the bill, "at a price that does not exceed the trailing 12–month average of the electric company’s standard offer service rate in the electric company’s service territory as of the date of agreement with the customer[.]"
Residential plans may not exceed 12 months in length.
The bill ends POR specifically for residential receivables. This provision does not apply to municipal aggregations
SB0001 provides that, beginning July 1, 2025, a person may not engage in the business of an "energy salesperson" in the state unless the person holds a license issued by the PSC.
"Energy salesperson" means an individual who is licensed by the commission to sell: (i) electricity or electricity supply services to residential retail electric customers on behalf of an electricity supplier as an employee or agent of the electricity supplier; or (ii) gas or gas supply services to residential retail gas customers on behalf of a gas supplier as an employee or agent of the gas supplier.
Additionally, under the bill, a licensed energy salesperson may offer or sell electricity supply agreements or gas supply agreements to customers only if the energy salesperson is associated with a licensed electricity supplier or licensed gas supplier, respectively
SB0001 provides that a residential retail supplier, "may not pay a commission or other incentive–based compensation to an energy salesperson for enrolling customers."
The bill requires entities which serve as sales contractors or subcontractors of retail suppliers to be licensed, by requiring an "energy vendor" to be licensed by the PSC
"Energy vendor" means a person that has a contract or subcontract to provide energy sales services to an electricity supplier or a gas supplier that provides electricity supply services or gas supply services, respectively, to a residential customer.
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Price Cap, End Of POR, Requirement For Individual Sales Agent Licenses, Bans Commissions To Salespersons
May 7, 2024
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Copyright 2010-24 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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