(a) At the request of an electric company, the Commission may adopt a qualified rate order providing for retiring and refunding rate stabilization bonds if the Commission finds that the future qualified rate stabilization charges required to service the new rate stabilization bonds, including transaction costs, will be less than the future qualified rate stabilization charges required to service the rate stabilization bonds being refunded. (b) On the retirement of the refunded rate stabilization bonds, the Commission shall adjust the related qualified rate stabilization charges accordingly.
Maryland Legal Code