Electric Companies - Cost Containment Plans - Requirement (Securing Affordable, Valuable Investments in Next Generation Grid Solutions (SAVINGS) Act)

SB 598 requires Maryland electric companies to submit cost containment plans to the Public Service Commission by January 1, 2027, and every three years thereafter. These plans must detail how the companies will reduce costs through "nonwires solutions" (like distributed energy resources and grid-enhancing technologies) and "demand flexibility" programs to avoid expensive infrastructure upgrades. The bill specifically mandates that plans address reducing peak electricity demand and integrating renewable energy while maintaining grid reliability. This directly affects all Maryland electric distribution and transmission companies operating under the Public Service Commission.