Electricity Generation and Storage - Investor-Owned Electric Companies and Front-of-the-Meter Storage (Affordable Energy Act)

SB 954, the "Affordable Energy Act," requires Maryland's Public Service Commission to mandate investor-owned electric companies to submit resource adequacy plans if the state faces insufficient power supply or a "price stability event" (when PJM capacity market prices exceed projected new generation costs). These plans must prioritize renewable energy investments and address shortages through new generation or storage projects. The bill also allows utilities to recover prudently incurred costs - including stranded investments - for constructing or operating generation facilities, with a minimum annual return tied to federal transmission rates. It directly affects Maryland's investor-owned electric utilities by shaping how they plan for reliability and recover infrastructure costs.