Investor-Owned Electric, Gas, and Gas and Electric Companies - Cost Recovery - Limitations

This bill (SB 2) restricts investor-owned electric, gas, and combined gas/electric utility companies in Maryland from recovering certain costs through customer rates. It prohibits rate recovery for employee bonuses (except those approved before December 2025 or in collective bargaining agreements) and limits recovery of supervisor compensation exceeding a set amount. The bill also requires utility boards to adopt company-wide policies capping spending on entertainment, office renovations, transportation (including private planes), staff development, and performance incentives. These changes take effect October 1, 2026.