Signed by Governor Martin O'Malley

Vote Smart's Synopsis:

Vote to pass a bill that provides credits to residential electric customers and limits investments in investor-owned utility companies.

Highlights:

- Allows investors to hold up to 20 percent of the voting interests in a gas and electric company without attaining prior permission from the Public Service Commission [Sec. 6-105 (e)(2)(I)]. - Requires Constellation Energy to contribute $187 million to be divided equally and credited toward residential electric customer bills by Dec. 31, 2008 [Sec. 6-105 (e)(2)(I)]. - Requires Constellation Energy to credit $18.66 million per year through 2016 to residential electric customer bills for nuclear decommissioning costs [Sec. 6-105 (e)(2)(I)]. - Relieves ratepayers of financial obligation in the decommissioning of Calvert Cliffs Nuclear Power Plant Units 1 and 2 [Sec. 6-105 (e)(2)(I)].

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that provides credits to residential electric customers and limits investments in investor-owned utility companies.

Highlights:

- Allows investors to hold up to 20 percent of the voting interests in a gas and electric company without attaining prior permission from the Public Service Commission [Sec. 6-105 (e)(2)(I)]. - Requires Constellation Energy to contribute $187 million to be divided equally and credited toward residential electric customer bills by Dec. 31, 2008 [Sec. 6-105 (e)(2)(I)]. - Requires Constellation Energy to credit $18.66 million per year through 2016 to residential electric customer bills for nuclear decommissioning costs [Sec. 6-105 (e)(2)(I)]. - Relieves ratepayers of financial obligation in the decommissioning of Calvert Cliffs Nuclear Power Plant Units 1 and 2 [Sec. 6-105 (e)(2)(I)].

Full Bill Text