ANNAPOLIS — Maryland's House of Delegates is pushing legislation to stop utility companies from charging customers more money to recoup costs of executive bonuses.
The bill comes as residents across the State continue experiencing increased utility rates.
At the beginning of this year's legislative session, Senate President Bill Ferguson called it the number one issue he's heard from constituents.
According to the State's fiscal analysis, the bill if passed, could bring down current gas & electricity rates and decrease future hikes.
Republicans say the bill doesn't go far enough.
"This is HB1, this should be the number one solution to lower energy prices, and this bill really is a bill about nothing," said Delegate Matt Morgan, a Republican from St. Mary's county.
The current bill goes beyond BGE, but to its parent company Exelon.
As the bill stands now, $250,000 of a CEO's compensation can be recovered by utility customers while the rest has to be funded through company profits.
"It's in everybody's interest to help limit the amount of money that these utility companies can make," said Delegate David Faser-Hidalgo, a Montgomery County Democrat.
Republicans in the House want to see more, particularly when it comes to generation in the state.
"This body has caused the electricity crisis and the affordability crisis in Maryland," said GOP Delegate Mark Fisher.
Democratic House members argue their policies aren't the reason why state energy generation plants are closing.
"We didn't close any power plants," said Fraser-Hidalgo. "If some of these power plants have chosen to close or they're running on RMR it's because they're no longer profitable."
How much money the bill may save you remains undetermined due to some changes since the fiscal analysis was submitted.
Maryland's Senate is hearing arguments for and against the bill Thursday. It's a top priority in that chamber as well.
