MD SB598

Electric companies must submit cost containment plans to the Public Service Commission by January 1, 2027, and every 3 years thereafter, detailing strategies to minimize capital expenditures on distribution and transmission systems

Plans must achieve at least a 20% reduction in peak electric system load from 2025 levels by 2030 through nonwires solutions, demand flexibility, virtual power plants, grid-enhancing technologies, and building electrification programs

Cost containment plans must describe coordination with PJM regional transmission planning and demonstrate how the company is prioritizing regional transmission investments over local and supplemental projects

The Commission must approve, conditionally approve, or deny plans based on whether they meet requirements and produce demonstrable cost savings under the unified benefit cost analysis framework

Electric companies that fail to meet the 20% peak load reduction goal face penalties including fines, reduced return on equity, and full or partial denial of cost recovery for plan implementation