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PSC Issues Corrected Notice & Seeks Comment Re: Staff’s Average Price Cap Report
As previously reported, the Maryland Public Service Commission issued a notice for comment on Staff’s report on SB1 Residential Supply Trailing 12- month Average Price Caps. On December 20, 2024, Staff filed report on SB1 Residential Supply Trailing 12-month Average Price Caps.
“By this order, the Commission “hereby invites interested parties to file comments on the matter by January 8, 2025. Comments should be addressed to Andrew S. Johnston, Executive Secretary, 6 St. Paul Street, 16th floor, Maryland 21202, and reference “PC 64” in the subject line.”
As background, beginning in 2025, residential electricity suppliers may not charge residential customers for electric supply (other than green power) in excess of the trailing 12-month average SOS rate.
A corrected report was filed on December 30th, which among other things included the following recommendations:
- The MDPSC requires utilities to file the trailing 12-month average rates in MDPSC Docket No. PC64 by the fifth business day of the month, for that month. For example, utilities should file by the fifth business day of 1/25 the trailing 12-month average residential SOS and default gas rates including 1/25 rates;
- The dates of applicability for the 12-month average residential price caps be all the days in the month that follows the 12 months that established the price cap. For example, the trailing 12-month average residential SOS and default gas rates through 12/24, should be the price cap for residential retail supply contracts entered into or renewed on 1/1/25 through 1/31/25;
- The utilities are directed to provide the dates of applicability for each trailing 12-month average rate in MDPSC Docket No. PC64 filings;
- Residential retail supply contract renewals, must renew at a rate that does not exceed the 12-month trailing average price caps as of the date of the renewed contract; and
- All residential retail choice contracts must state all prices in explicit numeric terms for the duration of the contract.
Notice (12/30/2024)
Staff Report (12/20/2024)
PC64 (Opened 07/23/2024)
The MDPSC opened this proceeding to implement the requirement in SB1 that imposed a price cap on residential electricity supply other than standard offer service (SOS) as of 1/1/25. This portion of the statute was codified as Public Utilities Article §7-510(d)(2).
