EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0716*
SENATE BILL 716
C5, M5 5lr1388
By: Senators Brooks, McKay, Rosapepe, and West
Introduced and read first time: January 27, 2025
Assigned to: Education, Energy, and the Environment
A BILL ENTITLED
AN ACT concerning 1
Public Utilities – Nuclear Energy – Renewable Energy Portfolio Standard and 2
Procurement 3
(Decarbonization Infrastructure Solutions Act of 2025) 4
FOR the purpose of altering the renewable energy portfolio standard; including nuclear 5
energy generated by certain nuclear energy reactors as a Tier 1 renewable source; 6
establishing a certified nuclear renewable energy credit for use in meeting certain 7
renewable energy portfolio standard requirements; establishing a procurement 8
process for the Public Service Commission to evaluate and approve an application 9
for nuclear energy generation projects; requiring the Governor’s Office of Small, 10
Minority, and Women Business Affairs, in consultation with the Office of the 11
Attorney General, to provide certain assistance to potential applicants and minority 12
investors and, in consultation with the Office of the Attorney General and a certain 13
applicant, establish a certain plan; requiring the Commission to approve orders to 14
facilitate the financing of nuclear energy generation projects under certain 15
circumstances; requiring each electric company to procure a certain volume of 16
nuclear energy from a certain escrow account; requiring a certain nuclear energy 17
generation project to sell certain energy, capacity, and ancillary services into certain 18
markets and distribute the proceeds in a certain manner; and generally relating to 19
the renewable energy portfolio standard and nuclear energy. 20
BY repealing and reenacting, without amendments, 21
Article – Public Utilities 22
Section 7–701(a) 23
Annotated Code of Maryland 24
(2020 Replacement Volume and 2024 Supplement) 25
BY adding to 26
Article – Public Utilities 27 2 SENATE BILL 716
Section 7–701(e–2) and (s)(14), 7–703(b)(26) through (35) and (g), and 7–709.2; and 1
7–1201 through 7–1211 to be under the new subtitle “Subtitle 12. Nuclear 2
Energy Procurement” 3
Annotated Code of Maryland 4
(2020 Replacement Volume and 2024 Supplement) 5
BY repealing and reenacting, with amendments, 6
Article – Public Utilities 7
Section 7–701(s)(12) and (13), 7–703(b)(21) through (25), and 7–704(a) 8
Annotated Code of Maryland 9
(2020 Replacement Volume and 2024 Supplement) 10
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 11
That the Laws of Maryland read as follows: 12
Article – Public Utilities 13
7–701. 14
(a) In this subtitle the following words have the meanings indicated. 15
(E–2) “NUCLEAR ENERGY REACTOR” OR “REACTOR” MEANS A DEVICE THAT 16
IS: 17
(1) DESIGNED OR USED TO PRODUCE ELECTRICA L OR HEAT ENERGY 18
BY SUSTAINING NUCLEAR FISSION IN A SELF–SUPPORTING CHAIN REACTION ; 19
(2) LICENSED FOR COMMERC IAL USE BY THE NUCLEAR REGULATORY 20
COMMISSION; AND 21
(3) LOCATED AT A NUCLEAR ENERGY GENERATING FA CILITY 22
CONNECTED WITH THE E LECTRIC DISTRIBUTION SYSTEM SERVING THE STATE. 23
(s) “Tier 1 renewable source” means one or more of the following types of energy 24
sources: 25
(12) thermal energy from a thermal biomass system; [and] 26
(13) raw or treated wastewater used as a heat source or sink for a heating 27
or cooling system; AND 28
(14) NUCLEAR ENERGY FROM A NUCLEAR ENERGY REACTOR, 29
INCLUDING SMALL MODU LAR REACTORS . 30
7–703. 31
SENATE BILL 716 3
(b) Except as provided in subsections (e) and (f) of this section, the renewable 1
energy portfolio standard shall be as follows: 2
(21) in 2026: 3
(i) [38%] 42% from Tier 1 renewable sources, including: 4
1. at least 8% derived from solar energy; 5
2. an amount set by the Commission under § 7–704.2(a) of 6
this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 7
2 offshore wind projects; [and] 8
3. at least 0.5% derived from post–2022 geothermal systems; 9
and 10
4. AT LEAST 4% DERIVED FROM NUCLEAR ENERGY; AND 11
(ii) 2.5% from Tier 2 renewable sources; and 12
(22) in 2027: 13
(i) [41.5%] 49.5% from Tier 1 renewable sources, including: 14
1. at least 9.5% derived from solar energy; 15
2. an amount set by the Commission under § 7–704.2(a) of 16
this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 17
2 offshore wind projects; [and] 18
3. at least 0.75% derived from post–2022 geothermal 19
systems; and 20
4. AT LEAST 8% DERIVED FROM NUCLEAR ENERGY ; AND 21
(ii) 2.5% from Tier 2 renewable sources; and 22
(23) in 2028: 23
(i) [43%] 55% from Tier 1 renewable sources, including: 24
1. at least 11% derived from solar energy; 25
2. an amount set by the Commission under § 7–704.2(a) of 26
this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 27
2 offshore wind projects; [and] 28 4 SENATE BILL 716
3. at least 1% derived from post–2022 geothermal systems; 1
and 2
4. AT LEAST 12% DERIVED FROM NUCLEAR ENERGY; 3
AND 4
(ii) 2.5% from Tier 2 renewable sources; and 5
(24) in 2029: 6
(i) [49.5%] 65.5% from Tier 1 renewable sources, including: 7
1. at least 12.5% derived from solar energy; 8
2. an amount set by the Commission under § 7–704.2(a) of 9
this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 10
2 offshore wind projects; [and] 11
3. at least 1% derived from post–2022 geothermal systems; 12
and 13
4. AT LEAST 16% DERIVED FROM NUC LEAR ENERGY ; 14
AND 15
(ii) 2.5% from Tier 2 renewable sources; [and] 16
(25) in 2030 [and later]: 17
(i) [50%] 70% from Tier 1 renewable sources, including: 18
1. at least 14.5% derived from solar energy; 19
2. an amount set by the Commission under § 7–704.2(a) of 20
this subtitle derived from offshore wind energy, including at least 1,200 megawatts of 21
Round 2 offshore wind projects; [and] 22
3. at least 1% derived from post–2022 geothermal systems; 23
and 24
4. AT LEAST 20% DERIVED FROM NUCLEAR ENERGY; 25
AND 26
(ii) 2.5% from Tier 2 renewable sources; 27
(26) IN 2031: 28 SENATE BILL 716 5
(I) 73% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 1
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 2
2. AN AMOUNT SET BY THE COMMISSION UNDER § 3
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 4
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 5
3. AT LEAST 1% DERIVED FROM POST –2022 6
GEOTHERMAL SYSTEMS ; AND 7
4. AT LEAST 23% DERIVED FROM NUCLEAR ENERGY; 8
AND 9
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES; 10
(27) IN 2032: 11
(I) 76% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 12
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 13
2. AN AMOUNT SET BY THE COMMISSION UNDER § 14
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 15
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 16
3. AT LEAST 1% DERIVED FROM POST –2022 17
GEOTHERMAL SYSTEMS ; AND 18
4. AT LEAST 26% DERIVED FROM NUCLEAR ENERGY; 19
AND 20
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 21
(28) IN 2033: 22
(I) 79% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 23
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 24
6 SENATE BILL 716
2. AN AMOUNT SET BY THE COMMISSION UNDER § 1
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE WIND ENERGY , INCLUDING 2
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 3
3. AT LEAST 1% DERIVED FROM POST –2022 4
GEOTHERMAL SYSTEMS ; AND 5
4. AT LEAST 29% DERIVED FROM NUCLEAR ENERGY; 6
AND 7
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES; 8
(29) IN 2034: 9
(I) 82% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 10
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 11
2. AN AMOUNT SET BY THE COMMISSION UNDER § 12
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 13
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 14
3. AT LEAST 1% DERIVED FROM POST –2022 15
GEOTHERMAL SYSTEMS ; AND 16
4. AT LEAST 32% DERIVED FROM NUCLEAR ENERGY; 17
AND 18
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 19
(30) IN 2035: 20
(I) 85% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 21
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 22
2. AN AMOUNT SET BY THE COMMISSION UNDER § 23
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 24
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 25
3. AT LEAST 1% DERIVED FROM POST –2022 26
GEOTHERMAL SYSTEMS ; AND 27
SENATE BILL 716 7
4. AT LEAST 35% DERIVED FROM NUCLEAR ENERGY; 1
AND 2
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 3
(31) IN 2036: 4
(I) 88% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 5
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 6
2. AN AMOUNT SET BY THE COMMISSION UNDER § 7
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 8
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 9
3. AT LEAST 1% DERIVED FROM POST –2022 10
GEOTHERMAL SYSTEMS ; AND 11
4. AT LEAST 38% DERIVED FROM NUCLEAR ENERGY; 12
AND 13
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 14
(32) IN 2037: 15
(I) 91% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 16
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 17
2. AN AMOUNT SET BY THE COMMISSION UNDER § 18
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 19
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 20
3. AT LEAST 1% DERIVED FROM POST –2022 21
GEOTHERMAL SYSTEMS ; AND 22
4. AT LEAST 41% DERIVED FROM NUCLEAR ENERGY ; 23
AND 24
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; 25
(33) IN 2038: 26
8 SENATE BILL 716
(I) 94% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 1
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 2
2. AN AMOUNT SET BY THE COMMISSION UNDER § 3
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE WIND ENERGY , INCLUDING 4
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 5
3. AT LEAST 1% DERIVED FROM POST –2022 6
GEOTHERMAL SYSTEMS ; AND 7
4. AT LEAST 44% DERIVED FROM NUCLEAR ENERGY; 8
AND 9
(II) 2.5% FROM TIER 2 RENEWABLE SOURCE S; 10
(34) IN 2039: 11
(I) 97% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 12
1. AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 13
2. AN AMOUNT SET BY THE COMMISSION UNDER § 14
7–704.2(A) OF THIS SUBTITLE DER IVED FROM OFFSHORE W IND ENERGY, INCLUDING 15
AT LEAST 1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 16
3. AT LEAST 1% DERIVED FROM POST –2022 17
GEOTHERMAL SYSTEMS ; AND 18
4. AT LEAST 47% DERIVED FROM NUCLEAR ENERGY; 19
AND 20
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES ; AND 21
(35) SUBJECT TO SUBSECTIO N (G) OF THIS SECTION , IN 2040 AND 22
LATER, 100% FROM TIER 1 RENEWABLE SOURCES , INCLUDING: 23
(I) AT LEAST 14.5% DERIVED FROM SOLAR E NERGY; 24
(II) AN AMOUNT SET BY THE COMMISSION UNDER § 7–704.2(A) 25
OF THIS SUBTITLE DER IVED FROM OFFSHOR E WIND ENERGY , INCLUDING AT LEAST 26
1,200 MEGAWATTS OF ROUND 2 OFFSHORE WIND PROJEC TS; 27
SENATE BILL 716 9
(III) AT LEAST 1% DERIVED FROM POST –2022 GEOTHERMAL 1
SYSTEMS; AND 2
(IV) AT LEAST 50% DERIVED FROM NUCLEAR ENERGY . 3
(G) TO ENSURE THE DEVELOP MENT AND INCREASING USE OF CLEAN 4
ENERGY TECHNOLOGIES OTHER THAN NUCLEAR E NERGY, STARTING IN 2040, THE 5
COMMISSION MAY INCREMENTALLY REDUCE THE PERCENTAGE REQUIREMENT OF 6
THE RENEWABLE PORTFO LIO STANDARD FOR ENE RGY DERIVED FROM NUC LEAR 7
ENERGY. 8
7–704. 9
(a) (1) (I) Energy from a Tier 1 renewable source: 10
[(i)] 1. EXCEPT AS PROVIDED I N SUBPARAGRAPH (II) OF THIS 11
PARAGRAPH , is eligible for inclusion in meeting the renewable energy portfolio standard 12
regardless of when the generating system or facility was placed in service; and 13
[(ii)] 2. may be applied to the percentage requirements of the 14
standard for either Tier 1 renewable sources or Tier 2 renewable sources. 15
(II) ENERGY FROM A NUCLEAR ENERGY REACTOR PLACED IN 16
SERVICE AT A NUCLEAR ENERGY GENERATING FACILITY ON OR BEFORE OCTOBER 17
1, 2025, IS NOT ELIGIBLE FOR INCLUSION IN MEETING THE RENEWABLE ENERGY 18
PORTFOLIO STANDARD . 19
(2) (i) Energy from a Tier 1 renewable source under § 7–701(s)(1), (5), 20
(9), (10), [or (11)] (11), OR (14) of this subtitle is eligible for inclusion in meeting the 21
renewable energy portfolio standard only if the source is connected with the electric 22
distribution [grid] SYSTEM serving Maryland. 23
(ii) Energy from a Tier 1 renewable source under § 7–701(s)(13) of 24
this subtitle is eligible for inclusion in meeting the renewable energy portfolio standard 25
only if the source: 26
1. is connected with the electric distribution [grid] SYSTEM 27
serving Maryland; or 28
2. processes wastewater from Maryland residents. 29
(iii) If the owner of a solar generating system in this State chooses to 30
sell solar renewable energy credits from that system, the owner must first offer the credits 31
for sale to an electricity supplier or electric company that shall apply them toward 32
compliance with the renewable energy portfolio standard under § 7–703 of this subtitle. 33 10 SENATE BILL 716
(3) Energy from a Tier 1 renewable source under § 7–701(s)(8) of this 1
subtitle is eligible for inclusion in meeting the renewable energy portfolio standard if it is 2
generated at a dam that existed as of January 1, 2004, even if a system or facility that is 3
capable of generating electricity did not exist on that date. 4
(4) Energy from a Tier 2 renewable source under § 7–701(t) of this subtitle 5
is eligible for inclusion in meeting the renewable energy portfolio standard if it is generated 6
at a system or facility that existed and was operational as of January 1, 2004, even if the 7
facility or system was not capable of generating electricity on that date. 8
7–709.2. 9
(A) (1) IN THIS SECTIO N THE FOLLOWING WORD S HAVE THE MEANINGS 10
INDICATED. 11
(2) “CERTIFIED NREC” MEANS A NUCLEAR RENE WABLE ENERGY 12
CREDIT GENERATED BY A CERTIFIED REACTOR. 13
(3) “CERTIFIED REACTOR” MEANS A NUCLEAR ENERGY REACTOR 14
CERTIFIED BY THE COMMISSION UNDER THE PROGRAM TO GENERATE CERTIFIED 15
NRECS WITH THE COMPLIANC E VALUE SPECIFIED IN SUBSECTION (C) OF THIS 16
SECTION. 17
(4) “PROGRAM” MEANS THE NUCLEAR ENERGY REACTOR 18
INCENTIVE PROGRAM. 19
(B) THE COMMISSION SHALL ESTA BLISH A NUCLEAR ENERGY REACTOR 20
INCENTIVE PROGRAM. 21
(C) (1) UNDER THE PROGRAM, A CERTIFIED REACTOR SHALL GENERATE 22
CERTIFIED NRECS. 23
(2) EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION , 24
THE PROVISIONS OF TH IS SUBTITLE RELATING TO RENEWABLE ENERGY CREDITS 25
SHALL APPLY TO CERTI FIED NRECS. 26
(3) (I) A CERTIFIED NREC SHALL HAVE A COMPLIA NCE VALUE 27
ESTABLISHED BY THE COMMISSION UNDER SUBP ARAGRAPH (II) OF THIS 28
PARAGRAPH FOR ELECTRICITY SUPP LIERS TO PUT TOWARD MEETING THE 29
RENEWABLE ENERGY POR TFOLIO STANDARD FOR ENERGY DERIVED FROM NUCLEAR 30
ENERGY UNDER § 7–703 OF THIS SUBTITLE. 31
SENATE BILL 716 11
(II) 1. ON OR BEFORE JUNE 1 EACH YEAR, THE COMMISSION 1
SHALL ESTABLISH A COMPLIANCE VALUE FOR CERTIFIED NRECS FOR THE NEXT 2
FISCAL YEAR THAT ENSURES COMPETI TIVENESS OF ALL TECH NOLOGIES USED TO 3
MEET THE RENEWABLE E NERGY PORTFOLIO STAN DARD. 4
2. THE COMMISSION MAY NOT ES TABLISH A 5
COMPLIANCE VALUE THA T RESULTS IN CERTIFIED NREC VALUES THAT ARE LESS 6
THAN $50 PER MEGAWATT –HOUR OR GREATER THAN $75 PER MEGAWATT –HOUR. 7
3. FOR FISCAL YEAR 2027 THE COMMISSION SHALL 8
ESTABLISH A COMPLIAN CE VALUE THAT RESULT S IN A CERTIFIED NREC VALUE OF 9
$65 PER MEGAWATT –HOUR. 10
(D) TO BE ELIGIBLE FOR CE RTIFICATION UNDER TH E PROGRAM, A 11
NUCLEAR ENERGY REACTOR SHALL: 12
(1) BE LOCATED IN THE STATE; 13
(2) BE ELIGIBLE FOR INCLUSI ON IN MEETING THE RE NEWABLE 14
ENERGY PORTFOLIO STA NDARD; 15
(3) HAVE THE GENERATING CAPACITY REQUIRED BY THE 16
COMMISSION; AND 17
(4) BE PLACED IN SERVICE AFTER OCTOBER 1, 2025. 18
(E) THE COMMISSION, AT THE TIME OF CERTI FYING A NUCLEAR ENERGY 19
REACTOR AS A TIER 1 RENEWABLE SOURCE , SHALL CERTIFY THE REACTOR AS 20
ELIGIBLE TO GENERATE CERTIFIED NRECS IN ACCORDANCE WITH SUBSECTION (C) 21
OF THIS SECTION IF T HE APPLICANT SUBMITS WITH ITS APPLICATION FOR 22
CERTIFICATION AS A TIER 1 RENEWABLE SOURCE : 23
(1) A FORM REQUESTING TO BE CERTIFIED TO RECE IVE CERTIFIED 24
NRECS WITH THE VALUE SPE CIFIED IN SUBSECTION (C) OF THIS SECTION; AND 25
(2) ANY OTHER INFORMATIO N REQUIRED BY THE COMMISSION. 26
(F) AN ELECTRICITY SUPPLI ER MAY APPLY THE CER TIFIED NRECS 27
GENERATED IN ACCORDANCE WITH THIS SECTION TOWARD THE R ENEWABLE 28
ENERGY PORTFOLIO STANDARD. 29
SUBTITLE 12. NUCLEAR ENERGY PROCUREMENT . 30
12 SENATE BILL 716
7–1201. 1
(A) AFTER THE EFFECTIVE D ATE OF COMMISSION REGULATION S 2
IMPLEMENTING THIS SU BTITLE, A PERSON MAY SUBMIT AN APPLICATION TO TH E 3
COMMISSION FOR APPROV AL OF A PROPOSED NUC LEAR ENERGY GENERATI ON 4
PROJECT. 5
(B) (1) ON RECEIPT OF AN APPL ICATION FOR APPROVAL OF A PROPOSED 6
NUCLEAR ENERGY GENER ATION PROJECT , THE COMMISSION SHALL : 7
(I) OPEN AN APPLICATION PERIOD DURING WHICH OTHER 8
INTERESTED PERSONS MAY SUB MIT APPLICATIONS FOR APPROVAL OF A PROPOS ED 9
NUCLEAR ENERGY GENER ATION PROJECT ; AND 10
(II) PROVIDE NOTICE THAT THE COMMISSION IS ACCEPTI NG 11
APPLICATIONS FOR APP ROVAL OF PROPOSED NU CLEAR ENERGY GENERAT ION 12
PROJECTS. 13
(2) THE COMMISSION SHALL SET THE CLOSIN G DATE FOR THE 14
APPLICATION PERIOD T O BE NOT SOONER THAN 90 DAYS AFTER THE NOTIC E 15
PROVIDED UNDER PARAG RAPH (1) OF THIS SUBSECTION . 16
(C) THE COMMISSION SHALL PROV IDE AT LEAST TWO ADD ITIONAL 17
APPLICATION PERIODS BEFORE JANUARY 1, 2031. 18
(D) THE COMMISSION MAY PROVID E ADDITIONAL APPLICA TION PERIODS 19
THAT MEET THE REQUIR EMENTS OF THIS SECTI ON. 20
7–1202. 21
UNLESS EXTENDED BY MU TUAL CONSENT OF THE PARTIES, THE COMMISSION 22
SHALL APPROVE , CONDITIONALLY APPROV E, OR DENY AN APPLICATI ON SUBMITTED 23
UNDER § 7–1201 OF THIS SUBTITLE WITHIN 1 YEAR AFTER THE CLOSE OF THE 24
APPLICATION PERIOD . 25
7–1203. 26
AN APPLICATION SUBMITTED FOR A NUCL EAR ENERGY GENERATIO N 27
PROJECT UNDER § 7–1201 OF THIS SUBTITLE SHALL INCLUDE : 28
(1) A DETAILED DESCRIPTI ON AND FINANCIAL ANALYSIS O F THE 29
PROJECT; 30
SENATE BILL 716 13
(2) THE PROPOSED METHOD OF FINANCING THE PRO JECT; 1
(3) A COST–BENEFIT ANALYSIS OF THE ECONOMIC , ENVIRONMENTAL , 2
AND HEALTH BENEFITS THAT THE PROJECT IS ANTICIPATED TO PROVI DE TO THE 3
STATE; 4
(4) A PROPOSED LONG –TERM PRICING SCHEDULE FOR THE PROJECT 5
THAT SHALL SPECIFY A PRICE FOR THE GENERA TION ATTRIBUTES ; 6
(5) A DECOMMISSIONING AN D WASTE STORAGE PLAN FOR THE 7
PROJECT, INCLUDING PROVISIONS FOR DECOMMISSIONING OR WASTE STORAGE AS 8
REQUIRED BY THE U.S. NUCLEAR REGULATORY COMMISSION; 9
(6) A COMMITMENT TO ABIDE BY THE REQUIRE MENTS SET FORTH IN 10
§ 7–1206 OF THIS SUBTITLE; 11
(7) A DESCRIPTION OF THE APPLICANT’S PLAN FOR ENGAGING SMALL 12
BUSINESSES, AS DEFINED IN § 14–501 OF THE STATE FINANCE AND PROCUREMENT 13
ARTICLE; 14
(8) IF APPLICABLE, THE STATEMENT SPECIF IED IN § 7–1204(C)(2) OF 15
THIS SUBTITLE; AND 16
(9) ANY OTHER INFORMATIO N THE COMMISSION REQUIRES . 17
7–1204. 18
(A) THE COMMISSION SHALL USE THE FOLLOWING CRITER IA TO EVALUATE 19
AND COMPARE APPLICATIONS FOR NUCLEAR ENERGY GENERATION PROJECTS 20
SUBMITTED DURING AN APPLICATION PERIOD UNDER § 7–1201 OF THIS SUBTITLE: 21
(1) THE LOWEST COST IMPA CT ON RATEPAYERS OF THE PRICE SET 22
UNDER A PROPOSED PRI CING SCHEDULE ; 23
(2) POTENTIAL REDUCTIONS IN TRANSMISSION CONG ESTION PRICES 24
WITHIN THE STATE; 25
(3) POTENTIAL CHANGES IN CAPACITY PRICES WITH IN THE STATE; 26
(4) POTENTIAL REDUCTIONS IN LOCATIONAL MARGIN AL PRICING; 27
14 SENATE BILL 716
(5) POTENTIAL LONG –TERM CHANGES IN CAPA CITY PRICES WITHIN 1
THE STATE FROM THE PROJEC T AS IT COMPARES TO CONVENTIONAL ENERGY 2
SOURCES; 3
(6) THE EXTENT TO WHICH THE COST–BENEFIT ANALYSIS SUB MITTED 4
UNDER § 7–1203 OF THIS SUBTITLE DEM ONSTRATES POSITIVE N ET ECONOMIC , 5
ENVIRONMENTAL , AND HEALTH BENEFITS TO THE STATE; 6
(7) THE EXTENT TO WHICH AN APPLICANT ’S PLAN FOR ENGAGING 7
SMALL BUSINESSES MEE TS THE GOALS SPECIFI ED IN TITLE 14, SUBTITLE 5 OF THE 8
STATE FINANCE AND PROCUREMENT ARTICLE; 9
(8) THE EXTENT TO WHICH AN APPLICANT’S PLAN PROVIDES FOR THE 10
USE OF SKILLED LABOR , PARTICULARLY WITH RE GARD TO THE CONSTRUC TION AND 11
MANUFACT URING COMPONENTS OF THE PROJECT , THROUGH OUTREACH , HIRING, 12
OR REFERRAL SYSTEMS THAT ARE AFFILIATED WITH REGISTERED APPR ENTICESHIP 13
PROGRAMS UNDER TITLE 11, SUBTITLE 4 OF THE LABOR AND EMPLOYMENT 14
ARTICLE; 15
(9) THE EXTENT TO WHICH AN APPLICANT’S PLAN PROVID ES FOR THE 16
USE OF AN AGREEMENT DESIGNED TO ENSURE T HE USE OF SKILLED LA BOR AND TO 17
PROMOTE THE PROMPT , EFFICIENT, AND SAFE COMPLETION OF THE PROJECT , 18
PARTICULARLY WITH RE GARD TO THE CONSTRUC TION, MANUFACTURING , AND 19
MAINTENANCE OF THE P ROJECT; 20
(10) THE EXTENT TO WHICH AN APP LICANT’S PLAN PROVIDES FOR 21
COMPENSATION TO ITS EMPLOYEES AND SUBCON TRACTORS CONSISTENT WITH 22
WAGES OUTLINED UNDER TITLE 17, SUBTITLE 2 OF THE STATE FINANCE AND 23
PROCUREMENT ARTICLE; 24
(11) SITING AND PROJECT F EASIBILITY; 25
(12) THE EXTE NT TO WHICH THE PROJ ECT WOULD REQUIRE 26
TRANSMISSION OR DIST RIBUTION INFRASTRUCT URE IMPROVEMENTS IN THE 27
STATE; AND 28
(13) ANY OTHER CRITERIA T HAT THE COMMISSION DETERMINES ARE 29
APPROPRIATE . 30
(B) IN EVALUATING AND COM PARING AN APPLICA TION FOR A NUCLEAR 31
ENERGY GENERATION PROJECT UNDER SUBSECTION (A) OF THIS SECTION , THE 32
COMMISSION MAY CONTRA CT FOR THE SERVICES OF INDEPENDENT CONSU LTANTS 33
AND EXPERTS. 34 SENATE BILL 716 15
(C) (1) IN THIS PARAGRAPH , “MINORITY” MEANS AN INDIVIDUAL WHO IS 1
A MEMBER OF ANY OF T HE GROUPS LISTED IN § 14–301(K)(1)(I) OF THE STATE 2
FINANCE AND PROCUREMENT ARTICLE. 3
(2) IF AN APPLICANT IS SE EKING INVESTORS IN A PROPOSED 4
NUCLEAR ENERGY GENER ATION PROJECT , THE APPLICANT SHALL TAKE THE 5
FOLLOWING STEPS BEFO RE THE COMMISSION MAY APPROV E THE PROPOSED 6
PROJECT: 7
(I) MAKE SERIOUS , GOOD–FAITH EFFORTS TO SOL ICIT AND 8
INTERVIEW A REASONAB LE NUMBER OF MINORIT Y INVESTORS; 9
(II) AS PART OF THE APPLI CATION, SUBMIT A STATEMENT T O 10
THE COMMISSION THAT LISTS THE NAMES AND ADDRES SES OF ALL MINORITY 11
INVESTORS INTERVIEWE D AND WHETHER OR NOT ANY O F THOSE INVESTORS HA VE 12
PURCHASED AN EQUITY SHARE IN THE ENTITY SUBMITTING THE APPLI CATION; 13
(III) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 14
COMMISSION THAT REQUI RES THE APPLICANT TO AGAIN MAKE SERIOUS , 15
GOOD–FAITH EFFORTS TO SOL ICIT AND INTERVIEW A R EASONABLE NUMBER OF 16
MINORITY INVESTORS I N ANY FUTURE ATTEMPT S TO RAISE VENTURE C APITAL OR 17
ATTRACT NEW INVESTOR S TO THE PROJECT ; 18
(IV) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 19
COMMISSION THAT REQUI RES THE APPLICANT TO USE BEST EFF ORTS AND 20
EFFECTIVE OUTREACH T O OBTAIN , AS A GOAL , CONTRACTORS AND 21
SUBCONTRACTORS FOR T HE PROJECT THAT ARE MINORITY BUSINESS 22
ENTERPRISES , TO THE EXTENT PRACTI CABLE, AS SUPPORTED BY A DI SPARITY 23
STUDY; AND 24
(V) SIGN A MEMORANDUM OF UNDERSTANDING WITH T HE 25
COMMISSION AND SKILLE D LABOR ORGANIZATION S THAT REQUIRES THE 26
APPLICANT TO FOLLOW THE PORTIONS OF THE APPLICANT’S PLAN THAT RELATE T O 27
THE CRITERIA SET FOR TH IN SUBSECTION (A)(8) AND (9) OF THIS SECTION. 28
(3) THE GOVERNOR’S OFFICE OF SMALL, MINORITY, AND WOMEN 29
BUSINESS AFFAIRS, IN CONSULTATION WITH THE OFFICE OF THE ATTORNEY 30
GENERAL, SHALL PROVIDE ASSIST ANCE TO ALL POTENTIA L APPLICANTS AND 31
POTENTIAL MINORITY I NVESTORS TO SATISFY THE REQUIREMENTS UND ER 32
PARAGRAPH (2)(I) AND (III) OF THIS SUBSECTION . 33
7–1205. 34 16 SENATE BILL 716
(A) THE COMMISSION MAY NOT AP PROVE AN APPLICA TION FOR A NUCLEAR 1
ENERGY GENERATION PR OJECT SUBMITTED UNDER § 7–1201 OF THIS SUBTITLE 2
UNLESS: 3
(1) THE PROJECT IS CONNE CTED TO THE ELECTRIC DISTRIBUTION 4
SYSTEM SERVING THE STATE; 5
(2) OVER THE DURATION OF THE PROPOSED LONG –TERM PRICING 6
SCHEDULE, THE PROJECTED NET RA TE IMPACT FOR AN AVE RAGE RESIDENTIAL 7
CUSTOMER, BASED ON ANNUAL CONS UMPTION OF 12,000 KILOWATT–HOURS AND 8
COMBINED WITH THE PR OJECTED NET RATE IMP ACT OF OTHER NUCLEAR ENERGY 9
GENERATION PROJECTS , DOES NOT EXCEED AN AMO UNT DETERMINED BY TH E 10
COMMISSION; 11
(3) OVER THE DURATION OF THE PROPOSED LONG –TERM PRICING 12
SCHEDULE, THE PROJECTED NET RA TE IMPACT FOR ALL NO NRESIDENTIAL 13
CUSTOMERS , CONSIDERED AS A BLEN DED AVERAGE AND COMB INED WITH THE 14
PROJECTED NET R ATE IMPACT OF OTHER NUCLEAR ENERGY GENER ATION 15
PROJECTS, DOES NOT EXCEED A PE RCENTAGE DETERMINED BY THE COMMISSION 16
OF NONRESIDENTIAL CU STOMERS’ TOTAL ANNUAL ELECTRI C BILLS; AND 17
(4) THE PRICE SPECIFIED IN THE PROPOSED LONG –TERM PRICING 18
SCHEDULE DOES NOT E XCEED AN AMOUNT DETE RMINED BY THE COMMISSION. 19
(B) WHEN CALCULATING THE PROJECTED NET AVERAG E RATE IMPACTS 20
FOR NUCLEAR ENERGY G ENERATION PROJECTS U NDER THIS SECTION , THE 21
COMMISSION SHALL APPL Y THE SAME NET LONG –TERM COST PER 22
MEGAWATT –HOUR TO RESIDENTIAL AND NONRESIDENTIAL C USTOMERS. 23
7–1206. 24
(A) AN APPLICATION FOR A NUCLEAR ENERGY GENER ATION PROJECT 25
SUBMITTED UNDER § 7–1207 OF THIS SUBTITLE IS SUBJECT TO A COMM UNITY 26
BENEFIT AGREEMENT . 27
(B) A COMMUNITY BENEFIT AG REEMENT SHALL : 28
(1) BE APPLICABLE TO THE DEVELOPMENT OF A NUCLEAR ENERGY 29
GENERATION PROJECT ; 30
SENATE BILL 716 17
(2) PROMOTE INCREASED OP PORTUNITIES FOR LOCA L BUSINESSES 1
AND SMALL, MINORITY, WOMEN–OWNED, AND VETERAN –OWNED BUSINESSES IN THE 2
CLEAN ENERGY INDUSTR Y; 3
(3) ENSURE THE TIMELY , SAFE, AND EFFICIENT C OMPLETION OF THE 4
PROJECT BY: 5
(I) FACILITATING A STEAD Y SUPPLY OF HIGHLY S KILLED 6
CRAFT WORKERS WHO SH ALL BE PAID NOT LESS THAN THE PREVAILING WAGE RATE 7
DETERMINED BY THE COMMISSIONER OF LABOR AND INDUSTRY UNDER TITLE 17, 8
SUBTITLE 2 OF THE STATE FINANCE AND PROCUREMENT ARTICLE; AND 9
(II) GUARANTEEING THAT TH E CONSTRUCTION WORK 10
PERFORMED IN CONNECT ION WITH THE PROJECT WILL BE SUBJECT TO A N 11
AGREEMENT THAT : 12
1. IS WITH ONE OR MORE LABOR ORGANIZATIONS ; AND 13
2. ESTABLISHES, IN ACCORDANCE WITH T HIS SECTION, 14
THE TERMS AND CONDIT IONS OF EMPLOYMENT A T THE CONSTRUCTION S ITE OF THE 15
PROJECT OR A PORTION OF THE PROJECT ; 16
(4) PROMOTE SAFE COMPLET ION OF THE PROJECT B Y ENSURING 17
THAT AT LEAST 80% OF THE CRAFT WORKERS ON THE PROJECT HAVE COMPLETED 18
AN OCCUPATION AL SAFETY AND HEALTH ADMINISTRATION 10–HOUR OR 30–HOUR 19
COURSE; 20
(5) PROMOTE CAREER TRAIN ING OPPORTUNITIES IN THE 21
MANUFACTURING , MAINTENANCE , AND CONSTRUCTION IND USTRIES FOR LOCAL 22
RESIDENTS, VETERANS, WOMEN, AND MINORITIES ; 23
(6) PROVIDE FOR BEST EFF ORTS AND EFFECTIVE OUTREA CH TO 24
OBTAIN, AS A GOAL, THE USE OF A WORKFOR CE INCLUDING MINORIT IES, TO THE 25
EXTENT PRACTICABLE ; 26
(7) REFLECT A 21ST–CENTURY LABOR –MANAGEMENT APPROACH BY 27
DEVELOPERS AND SUPPL IERS BASED ON COOPER ATION, HARMONY, AND 28
PARTNERSHIP THAT PR OACTIVELY SEEKS TO E NSURE THAT WORKERS C AN FREELY 29
CHOOSE TO BOTH ORGAN IZE AND COLLECTIVELY BARGAIN; 30
(8) PROVIDE PLANS TO USE DOMESTIC IRON , STEEL, AND 31
MANUFACTURED GOODS T O THE GREATEST EXTEN T PRACTICABLE BY DIS CLOSING 32
CONTRACTED SUPPLIERS ; 33 18 SENATE BILL 716
(9) USE LOCALLY AND DOME STICALLY MANUFACTURE D 1
CONSTRUCTION MATERIA LS AND COMPONENTS ; 2
(10) MAXIMIZE THE USE OF SKILLED LOCAL LABOR , PARTICULARLY 3
WITH REGARD TO THE C ONSTRUCTION AND MANU FACTURING COMPONENTS OF THE 4
PROJECT, USING METHODS INCLUD ING OUTREACH , HIRING, OR REFERRAL 5
METHODS THAT ARE AFF ILIATED WITH REGISTE RED APPRENTICESHIP P ROGRAMS 6
UNDER TITLE 11, SUBTITLE 4 OF THE LABOR AND EMPLOYMENT ARTICLE; 7
(11) GUARANTEE AGAINST ST RIKES, LOCKOUTS, AND SIMILAR 8
DISRUPTIONS; 9
(12) ENSURE THAT ALL WORK ON THE PROJECT FULLY CONF ORMS TO 10
ALL RELEVANT STATE AND FEDERAL LAW S, RULES, AND REGULATIONS ; 11
(13) CREATE MUTUALLY BIND ING PROCEDURES FOR R ESOLVING 12
LABOR DISPUTES ARISI NG DURING THE TERM O F THE PROJECT; 13
(14) SET FORTH OTHER MECH ANISMS FOR LABOR –MANAGEMENT 14
COOPERATION ON MATTE RS OF MUTUAL INTERES T AND CONCERN , INCLUDING 15
PRODUCTIVITY , QUALITY OF WORK , SAFETY, AND HEALTH; AND 16
(15) BIND ALL CONTRACTORS AND SUBCONTRACTORS T O THE TERMS 17
OF THE AGREEMENT THR OUGH THE INCLUSION O F APPROPRIATE PROVIS IONS IN 18
ALL RELEVANT SOLICITATION AND CONTRACT DOCUMEN TS. 19
7–1207. 20
(A) AN ORDER THE COMMISSION ISSUES APP ROVING AN APPLICATION FOR 21
A NUCLEAR ENERGY GENER ATION PROJECT SUBMITTED UNDER § 7–1201 OF THIS 22
SUBTITLE SHALL: 23
(1) SPECIFY THE LONG –TERM PRICING SCHEDUL E; 24
(2) SPECIFY THE DURATION OF THE LONG–TERM PRICING SCHEDUL E, 25
NOT TO EXCEED 30 YEARS; 26
(3) PROVIDE THAT : 27
(I) A PAYMENT MAY NOT BE MADE UNDER A LONG –TERM 28
PRICING SCHEDULE UNT IL ELECTRICITY SUPPL Y IS GENERATED BY TH E PROJECT; 29
AND 30 SENATE BILL 716 19
(II) RATEPAYERS AND THE STATE SHALL BE HELD H ARMLESS 1
FOR ANY COST OVERRUN S ASSOCIATED WITH TH E PROJECT; AND 2
(4) REQUIRE THAT ANY DEB T INSTRUMENT ISSUED IN CONNECTION 3
WITH THE PROJECT INC LUDE LANGUAGE SPECIF YING THAT THE DEBT I NSTRUMENT 4
DOES NOT ESTABLISH A DEBT, OBLIGATION, OR LIABILITY OF THE STATE. 5
(B) AN ORDER APPROVING A NUCLEAR ENERGY GENER ATION PROJECT 6
VESTS THE OWNER OF T HE PROJECT WITH THE RIGHT TO RECEIVE PAY MENTS 7
ACCORDING TO THE TER MS IN THE ORDER . 8
(C) ON OR BEFORE MARCH 1 EACH YEAR, THE COMMISSION SHALL REPO RT 9
TO THE GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE 10
GOVERNMENT ARTICLE, TO THE SENATE COMMITTEE ON EDUCATION, ENERGY, 11
AND THE ENVIRONMENT AND THE HOUSE ECONOMIC MATTERS COMMITTEE ON : 12
(1) APPLICANT COMPLIANCE WITH THE MINORITY BU SINESS 13
ENTERPRISE PARTICIPATION GOALS UNDER § 7–1204(C) OF THIS SUBTITLE; AND 14
(2) WITH RESPECT TO THE COMMUNITY BENEFIT AG REEMENT UNDER 15
§ 7–1206 OF THIS SUBTITLE: 16
(I) THE AVAILABILITY AND USE OF OPPORTUNITIES FOR LOCAL 17
BUSINESSES AND SMALL , MINORITY, WOMEN–OWNED, AND VETERAN –OWNED 18
BUSINESSES; 19
(II) THE SUCCESS OF EFFOR TS TO PROMOTE CAREER TRAINING 20
OPPORTUNITIES IN THE MANUFACTURING , MAINTENANCE , AND CONSTRUCTION 21
INDUSTRIES FOR LOCAL RESIDENTS, VETERANS, WOMEN, AND MINORITIES ; AND 22
(III) COMPLIANCE WITH THE MINORITY WORKFORCE G OAL 23
UNDER § 7–1206(B) OF THIS SUBTITLE. 24
7–1208. 25
(A) (1) SUBJECT TO SUBSECTION (B) OF THIS SECTION , IF THE 26
COMMISSION APPROVES P ROPOSALS THAT DEMONS TRATE, BASED ON THE 27
CRITERIA SPECIFIED I N § 7–1203 OF THIS SUBTITLE , POSITIVE NET ECO NOMIC, 28
ENVIRONMENTAL , AND HEALTH BENEFITS TO THE STATE, THE COMMISSION SHALL 29
APPROVE ORDERS TO FA CILITATE THE FINANCI NG OF NUCLEAR ENERGY 30
GENERATION PROJECTS . 31
20 SENATE BILL 716
(2) WHEN CALCULATING THE NET BENEFITS TO THE STATE UNDER 1
PARAGRAPH (1) OF THIS SUBSECTION , THE COMMISSION MAY CONTRA CT FOR THE 2
SERVICES OF INDEPEND ENT CONSULTANTS AND EXPERTS. 3
(B) THE COMMISSION MAY NOT AP PROVE AN ORDER TO FA CILITATE THE 4
FINANCING OF A NUCLE AR ENERGY GENERATION PROJECT UNLESS THE P ROJECT IS 5
SUBJECT TO A COMMUNI TY BENEFIT AGREEMEN T UNDER § 7–1206 OF THIS 6
SUBTITLE. 7
7–1209. 8
(A) THE FINDINGS AND EVID ENCE RELIED ON BY TH E GENERAL ASSEMBLY 9
FOR THE CONTINUATION OF THE MINORITY BUSINESS ENTERPRISE PROGRAM 10
UNDER TITLE 14, SUBTITLE 3 OF THE STATE FINANCE AND PROCUREMENT 11
ARTICLE ARE INCORPORATED IN THIS SECTION. 12
(B) TO THE EXTENT PRACTIC ABLE AND AUTHORIZED BY THE UNITED 13
STATES CONSTITUTION, AN APPLICANT APPROVED FOR A NUCLEAR ENERGY 14
GENERATION PROJECT UNDER § 7–1208 OF THIS SUBTITLE SHALL COMPLY WITH 15
THE STATE’S MINORITY BUSINESS ENTERPRISE PROGRAM. 16
(C) (1) WITHIN 6 MONTHS AFTER THE ISS UANCE OF AN ORDER TH AT 17
APPROVES A NUCLEAR E NERGY GENERATION PRO JECT AND INCLUDES A 18
LONG–TERM PRICING COMPONE NT, THE GOVERNOR’S OFFICE OF SMALL, 19
MINORITY, AND WOMEN BUSINESS AFFAIRS, IN CONSULTATION WITH THE OFFICE 20
OF THE ATTORNEY GENERAL AND THE APPRO VED APPLICANT , SHALL ESTABLISH A 21
CLEAR PLAN FOR SETTI NG REASONABLE AND AP PROPRIATE MINORITY B USINESS 22
ENTERPRISE PARTICIPA TION GOALS AND PROCE DURES FOR EACH PHASE OF THE 23
NUCLEAR ENERGY GENER ATION PROJECT . 24
(2) TO THE EXTENT PRACTIC ABLE, THE GOALS AND PROCED URES SET 25
IN ACCORDANCE WITH P ARAGRAPH (1) OF THIS SUBSECTION S HALL BE BASED ON 26
THE REQUIREMENTS OF TITLE 14, SUBTITLE 3 OF THE STATE FINANCE AND 27
PROCUREMENT ARTICLE AND THE REGUL ATIONS IMPLEMENTING THAT SUBTITLE. 28
(3) EVERY 6 MONTHS FOLLOWING THE ISSUANCE OF AN ORDER THAT 29
APPROVES A NUCLEAR E NERGY GENERATION PRO JECT AND INCLUDES A 30
LONG–TERM PRICING COMPONE NT, THE APPROVED APPLICANT SHALL SUBM IT A 31
REPORT ON THE PROGRESS MADE TO ESTABLISH AND IMPLEM ENT MINORITY 32
BUSINESS ENTERPRISE GOALS AND PROCEDURES TO THE COMMISSION. 33
7–1210. 34
SENATE BILL 716 21
(A) THE COMMISSION SHALL ADOPT REGULATIONS TH AT: 1
(1) ESTABLISH THE NUCLEA R ENERGY LONG –TERM PRICING 2
PURCHASE OBLIGATION SUFFICIENTLY IN ADVA NCE TO ALLOW AN ELEC TRIC 3
COMPANY TO REFLECT NUCLEAR E NERGY LONG –TERM PRICING COSTS A S A 4
NONBYPASSABLE SURCHA RGE PAID BY ALL DIST RIBUTION CUSTOMERS O F THE 5
ELECTRIC COMPANY ; 6
(2) ESTABLISH A NONBYPAS SABLE SURCHARGE THAT ALLOWS AN 7
ELECTRIC COMPANY TO RECOVER ALL COSTS AS SOCIATED WITH THE PURCHASE OF 8
NUCLEAR ENERGY FROM ALL DISTRIBUTION CUS TOMERS OF THE ELECTR IC 9
COMPANY; 10
(3) ESTABLISH AN ESCROW ACCOUNT THAT IS UNDE R COMMISSION 11
SUPERVISION; AND 12
(4) DEFINE RULES THAT FA CILITATE AND ENSURE THE SECURE AND 13
TRANSPARENT TRANSFER OF REVENU ES AND LONG –TERM PRICING PAYMENT S 14
AMONG PARTIES . 15
(B) (1) EACH ELECTRIC COMPANY SHALL PROCURE FROM T HE ESCROW 16
ACCOUNT ESTABLISHED BY REGULATION UNDER THIS SECTION A VOLUM E OF 17
NUCLEAR ENERGY EQUAL TO THE ELECTRIC COMP ANY’S RESPECTIVE PERCENT AGE 18
OF RETAIL ELECTRIC SALES EACH Y EAR. 19
(2) (I) SUBJECT TO ANY ESCROW ACCOUNT RESERVE 20
REQUIREMENT THE COMMISSION ESTABLISHE S, IF THERE IS INSUFFIC IENT 21
NUCLEAR ENERGY AVAIL ABLE TO SATISFY THE ELECTRIC COMPANIES ’ NUCLEAR 22
ENERGY OBLIGATION , THE OVERPAYMENT SHAL L BE DISTRIBUTED TO ELECTRIC 23
COMPANIES TO BE REFU NDED OR CREDITED TO EACH DISTRIBUTION CU STOMER 24
BASED ON THE CUSTOME R’S CONSUMPTION OF ELE CTRICITY SUPPLY THAT IS 25
SUBJECT TO THE RENEWABLE ENERGY PORTFOLIO STA NDARD. 26
(II) SUBJECT TO ANY ESCROW ACCOUNT RESERVE 27
REQUIREMENT THE COMMISSION ESTABLISHE S, THE CALCULATION OF A N 28
ELECTRIC COMPANY ’S NUCLEAR ENERGY PUR CHASE OBLIGATION SHA LL BE BASED 29
ON FINAL ELECTRICITY SALES DATA AS REPORT ED BY PJM INTERCONNECTION , 30
LLC, AND MEASURED AT THE CUSTOMER METER . 31
(3) FOR EACH LONG–TERM PRICING SCHEDUL E FOR WHICH A 32
NUCLEAR ENERGY GENER ATION PROJECT RECEIV ES PAYMENT , THE PROJECT 33
SHALL: 34
22 SENATE BILL 716
(I) SELL ALL ENERGY , CAPACITY, AND ANCILLARY SERVIC ES 1
ASSOCIATED WITH THE CREATION OF THE LONG –TERM PRICING INTO TH E MARKETS 2
OPERATED BY PJM INTERCONNECTION , LLC; AND 3
(II) DISTRIBUTE THE PROCE EDS RECEIVED FROM TH E SALES 4
UNDER ITEM (I) OF THIS PARAGRAPH TO ELECTRIC COMPANIES T O BE REFUNDED 5
OR CREDITED TO EACH DISTRIBUTION CUSTOME R BASED ON THE CUSTO MER’S 6
CONSUMPTION OF ELECT RICITY SUPPLY THAT IS SUBJECT TO THE CL EAN ENERGY 7
PORTFOLIO STANDARD . 8
(C) A DEBT, AN OBLIGATION , OR A LIABILITY OF A NUCLEAR ENERGY 9
GENERATION PROJECT O R OF AN OWNER OR OPE RATOR OF A NUCLEAR E NERGY 10
GENERATION PROJECT M AY NOT BE CONSIDERED A DEBT, AN OBLIGATION , OR A 11
LIABILITY OF THE STATE. 12
7–1211. 13
ON OR BEFORE JANUARY 1, 2026, THE COMMISSION SHALL ADOP T 14
REGULATIONS TO CARRY OUT THIS SUBTITLE . 15
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 16
1, 2025. 17