Energy (Oil & Gas)

HB 674 requires Maryland's Public Service Commission to analyze the full costs and benefits of different electricity generation sources for ratepayers. The commission must compare three scenarios: current natural gas and nuclear capacity, 8,500 megawatts of offshore wind plus storage, and calculate additional reliability costs for wind energy. Using the Levelized Full System Cost model, the analysis will identify the lowest-cost options and recommend policy changes to support them. The commission must submit findings to relevant legislative committees by December 1, 2027, with the bill taking effect October 1, 2026. This directly affects electricity ratepayers through potential cost comparisons for state energy choices.

HB 572 authorizes Maryland’s Attorney General to sue large fossil fuel companies (with over $1 billion in market capitalization involved in extracting or processing coal, oil, or gas) for unlawful conduct contributing to climate change, including fraud or deception. It creates the Climate Crimes Accountability Fund, financed by settlements or judgments from these lawsuits, to pay for programs addressing specific climate harms like flooding, extreme heat, drought, and waterborne pathogens. The fund is a special, non-lapsing account managed by the state, with interest earnings automatically added to it. All money must directly support climate harm prevention, mitigation, or repair efforts as defined in the bill.