Investor-Owned Electric, Gas, and Gas and Electric Companies - Cost Recovery - Limitations and Reporting Requirements (Ratepayer Freedom Act)

HB 960, the "Ratepayer Freedom Act," prohibits investor-owned electric, gas, and combined gas/electric utilities in Maryland from recovering certain costs through customer rates. It bans cost recovery for lobbying or political activities (including trade association dues, policy research, and advertising to attract new customers), executive travel, entertainment, and investor relations expenses - unless specific public interest criteria are met. Utilities must now report all costs tied to these prohibited activities in annual filings to the Public Service Commission, including itemized expenses, employee roles, and hours spent. This directly affects major utility companies like Baltimore Gas and Electric or Potomac Edison, aiming to prevent ratepayers from funding activities unrelated to core service delivery. The bill focuses on transparency and cost accountability, requiring detailed disclosures without altering utility service standards.