HB0981 • 2026

Investor-Owned Public Service Companies - Base Rate Proceeding - Equity Market Return

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Delegates A. Johnson , Behler , Bhandari , Boafo , Charkoudian , Crosby , Embry , Fraser-Hidalgo , Ivey , Lehman , J. Long , Pruski , Roberson , Rogers , and Vogel
Last action: 2026-03-02
Official status: In the House - Withdrawn by Sponsor
Effective date: 2026-10-01

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Investor-Owned Public Service Companies - Base Rate Proceeding - Equity Market Return

Requiring the Public Service Commission, in a base rate proceeding, to determine a certain equity market return for certain public service companies; and authorizing the Commission to adjust certain rates based on the equity market return.

What This Bill Does

Requiring the Public Service Commission, in a base rate proceeding, to determine a certain equity market return for certain public service companies; and authorizing the Commission to adjust certain rates based on the equity market return.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-03-02 House
Withdrawn by Sponsor
2026-02-23 House
Hearing canceled
2026-02-10 House
Hearing 2/24 at 1:00 p.m.
2026-02-06 House
First Reading Environment and Transportation
Maryland General Assembly
Text - First - Investor-Owned Public Service Companies - Base Rate Proceeding - Equity Market Return
Maryland General Assembly
Vote - House - Committee - Environment and Transportation

Official Summary Text

Requiring the Public Service Commission, in a base rate proceeding, to determine a certain equity market return for certain public service companies; and authorizing the Commission to adjust certain rates based on the equity market return.

Current Bill Text

Read the full stored bill text

EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
*hb0981*

HOUSE BILL 981
C5 6lr2016

By: Delegates A. Johnson, Behler, Bhandari, Boafo, Charkoudian, Crosby, Embry,
Fraser–Hidalgo, Ivey, Lehman, J. Long, Pruski, Roberson, Rogers, and
Vogel
Introduced and read first time: February 6, 2026
Assigned to: Environment and Transportation

A BILL ENTITLED

AN ACT concerning 1

Investor–Owned Public Service Companies – Base Rate Proceeding – Equity 2
Market Return 3

FOR the purpose of requiring the Public Service Commission, in a base rate proceeding, to 4
determine a certain equity market retur n for certain public service companies; 5
authorizing the Commission to adjust certain rates based on the equity market 6
return; and generally relating to public service company base rate proceedings. 7

BY adding to 8
Article – Public Utilities 9
Section 4–206.2 10
Annotated Code of Maryland 11
(2025 Replacement Volume and 2025 Supplement) 12

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 13
That the Laws of Maryland read as follows: 14

Article – Public Utilities 15

4–206.2. 16

(A) THIS SECTION APPLIES ONLY TO A PUBLIC SER VICE COMPANY THAT IS 17
AN INVESTOR–OWNED GAS COMPANY , AN INVESTOR–OWNED ELECTRIC COMPA NY, 18
OR A COMBINATION INVESTOR–OWNED GAS AND ELECTRIC COMPANY. 19

(B) (1) IN A BASE RATE PROCEE DING TO SET JUST AND REASONABLE 20
RATES FOR A PUBLIC SERVICE COMPANY UNDER THIS TITLE , THE COMMISSION 21
2 HOUSE BILL 981

SHALL DETERMINE THE CURRENT AVERAGE EXPE CTED 10–YEAR UNITED STATES 1
EQUITY MARKET RETURN. 2

(2) THE COMMISSION SHALL USE MULTIPLE OBJECTIVE SOURCES TO 3
DETERMINE THE EQUITY MARKET RETURN UNDER PARAGRAPH (1) OF THIS 4
SUBSECTION. 5

(C) THE COMMISSION MAY ADJUST RATES FOR A PUBLIC SERVICE 6
COMPANY BASED ON THE RISKS T O THE PUBLIC SERVICE COMPANY AS COMPARED 7
TO THE EQUITY MARKET RETURN DETERMINED UNDER SUBSECTION (B) OF THIS 8
SECTION. 9

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 10
October 1, 2026. 11