Introduction

On April 8, 1999, Maryland Governor Parris Glendening signed the Electric Utility Industry Restructuring Act. The signing marked the beginning of the end of the state’s regulated-monopoly electricity industry that had operated for much of the 20th century. In its place, Maryland would embrace a “deregulated”1 market in which consumers would purchase electricity at market-established rates. At the time of the legislation’s adoption, deregulation efforts of various designs were underway in most other Northeast states, Texas, and California.