(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.
(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.
Structure Maryland Statutes
Division I - Public Services and Utilities
Title 7 - Gas, Electric, and Water Companies
Subtitle 5 - Electric Industry Restructuring
Section 7-522 - Filing Rate Stabilization Plan
Section 7-524 - Tariffs Implementing Rate Stabilization Plan; Application for Qualified Rate Order
Section 7-525 - Recovery of Actual Cost of Deferred Expenses
Section 7-526 - Application for Qualified Rate Order
Section 7-527 - Order to Include Costs and Recovery Time Period
Section 7-528 - Effectiveness and Irrevocability; Review
Section 7-529 - Time Limit for Commission's Decision
Section 7-530 - Qualified Rate Stabilization Charges -- Imposition and Collection Are Nonbypassable
Section 7-531 - Commission to Establish Procedures and Time Frames for Review
Section 7-532 - Termination, Expiration, and Extension of Orders
Section 7-533 - Retiring and Refunding Bonds
Section 7-534 - Modified or Additional Qualified Rate Orders
Section 7-535 - Bond Not Debt, Liability, or Pledge of State or Governmental Unit
Section 7-536 - Permissible Provisions of Order
Section 7-537 - Rate Stabilization Property
Section 7-538 - Exemption From Taxes and Charges
Section 7-539 - Status of Agreement as Sale
Section 7-541 - Required Statements in Electric Bills
Section 7-542 - Liens or Assignments of Rate Stabilization Property
Section 7-543 - Successors to Perform and Satisfy Obligations