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§ 7-534. Additional or new rate stabilization bonds

West's Annotated Code of MarylandPublic Utilities

West's Annotated Code of Maryland
Public Utilities (Refs & Annos)
Division I. Public Services and Utilities [Titles 1-15] (Refs & Annos)
Title 7. Gas, Electric, and Water Companies (Refs & Annos)
Subtitle 5. Electric Industry Restructuring (Refs & Annos)
Part III. Rate Stabilization (Refs & Annos)
MD Code, Public Utilities, § 7-534
Formerly cited as MD PUBLIC UTIL COMP § 7-534
§ 7-534. Additional or new rate stabilization bonds
In general
(a) At the request of an electric company, the Commission may modify an existing qualified rate order, or issue an additional qualified rate order, providing for the issuance of:
(1) additional rate stabilization bonds for rate stabilization costs not recovered under an original qualified rate order; or
(2) new rate stabilization bonds for the combined purposes of:
(i) financing and recovering rate stabilization costs not recovered under an original qualified rate order; and
(ii) subject to § 7-533 of this subtitle, retiring and refunding existing rate stabilization bonds.
Nature of additional or new rate stabilization bonds
(b) Unless otherwise provided in the modified or additional qualified rate order or in the trust agreement securing the additional or new rate stabilization bonds, the additional or new rate stabilization bonds are:
(1) considered to be of the same issue as the original issue; and
(2) entitled to payment from the same funds as the original issue, without preference or priority of the rate stabilization bonds of the original issue.

Credits

Added by Acts 2006, 1st Sp. Sess., c. 5, § 1, eff. June 23, 2006.
MD Code, Public Utilities, § 7-534, MD PUBLIC UTIL § 7-534
Current with legislation effective through June 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document