Investor-Owned Electric, Gas, and Gas and Electric Companies - Utility Rate Changes (Public Service Company Transparency Act)

HB 540, the "Public Service Company Transparency Act," requires investor-owned electric, gas, and combined gas/electric utilities in Maryland to increase transparency around potential rate changes. Specifically, it mandates that these companies notify customers via bill inserts or email before seeking rate adjustments, provide a detailed 10-year rate trend report showing visual graphs and cost breakdowns, and include a standardized statement on all customer bills explaining the Public Service Commission’s role. Utilities must also distribute annual rate reports to customers and post them online, while the Public Service Commission must publish an annual rate trend report using data from these filings. The bill applies only to investor-owned utilities (excluding municipal or cooperative providers) and takes effect October 1, 2026, with first reports due January 1, 2028.