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

HB 981 requires Maryland's Public Service Commission to use the 10-year average U.S. equity market return when setting base rates for investor-owned gas and electric utilities. The Commission must determine this rate using multiple objective sources and may adjust utility rates based on how risky a company's operations are compared to the market return. This directly affects gas and electric utility companies and their customers by changing how rates are calculated for service. The law takes effect October 1, 2026.