News Stories

At the Maryland PSC agenda session, given newly enacted SB 1’s prohibition on residential purchase of receivable (POR) the Maryland Public Service Commission (MD PSC) discussed that the electric and gas utilities will be directed to report on potential changes to the residential POR discount rates, and a plan to resolve final residential POR balances.  

Specifically, each utility is directed to file, no later than September 1, 2024, to provide the following:

• An update on ongoing POR balances for residential customers; 
• Any recommended change to the residential POR rate for the remaining months of residential POR;
• A plan for determining and resolving final residential POR balances; and 
• An explanation of how the utility will address residential retail supply billing conducted through utility consolidated billing once the POR prohibition has taken effect.

During the same administrative meeting, Baltimore Gas & Electric reiterated that the residential POR prohibition applies to new and renewed contracts effective January 1, 2025. BGE therefore emphasized that POR would still apply beyond January 1, 2025, to residential receivables for any existing contracts.

BGE also alerted the Commission that it currently has no way of determining which residential receivables will remain eligible for POR. While BGE acknowledged that the issue was not currently before the Commission.  Therefore, BGE recommends that part of the PSC’s review of POR discount changes should include the ability for the utility to identify which receivables remain eligible for POR in implementing SB 1.

View June 12, 2024, MD PSC meeting agenda at: https://www.youtube.com/watch?v=WANFRYHalqc.