MD HB1404

Authorizes construction, permitting, and operation of natural gas energy generating systems in Maryland, subject to obtaining a Certificate of Public Convenience and Necessity or Commission approval

Allows investor-owned electric companies and electricity suppliers to construct, acquire, lease, and operate their own generating facilities and transmission infrastructure necessary to interconnect with the electric system

Permits investor-owned electric companies to recover all prudently incurred generation investments and costs—including acquisition, capital, construction, operation, maintenance, financing, fuel, and stranded costs—through electric rates or a nonbypassable surcharge

Requires Public Service Commission orders for generating facilities over 2 megawatts to obtain a credit rating assessment from a premier rating agency confirming the order is unlikely to negatively impact the utility's creditworthiness before taking effect

States the General Assembly's support for additional nuclear energy development, including small modular reactors, and encourages PJM Interconnection, LLC to provide expedited interconnection for new thermal generation resources; effective October 1, 2026