Maryland Lawmakers Introduce the SAVINGS Act to Cut Grid Costs and Lower Electric Bills
“The SAVINGS Act is exactly what it sounds like”
ANNAPOLIS, MD – Today, Maryland lawmakers introduced the Securing Affordable, Valuable Investments in Next-Generation Grid Solutions (SAVINGS) Act (HB 723), legislation that could save customers hundreds of millions of dollars on their electricity bills. The SAVINGS Act will rein in rising electric bills by requiring utilities to prioritize cost-effective grid solutions over expensive new infrastructure.
As electricity demand grows and grid costs continue to rise, the SAVINGS Act shifts utility planning toward smart low-cost investments like demand flexibility, grid-enhancing technologies, and non-wires solutions that reduce peak demand, improve reliability, and deliver measurable savings for customers.
“The costs of building, upgrading, and maintaining our electric grid are a huge part of customers’ utility bills,” says Maryland State Delegate Lily Qi.“It can be almost half of a customer’s bill in some cases. For at least fifteen years, these costs have far outpaced inflation. By promoting financial discipline, the SAVINGS Act could save customers hundreds of millions of dollars for decades to come.”
“My number one priority is bringing down residents’ energy bills. Rising distribution costs have been unchecked,” says Maryland State Senator Katie Fry-Hester. “It’s time to pressure utilities to modernize the grid with non-wire alternatives and contain their costs.”
“The SAVINGS Act is exactly what it sounds like: real savings for Maryland ratepayers at a time when electric bills are rising and families can’t afford business as usual,” said Katie Mettle, Maryland Policy Lead at Advanced Energy United. “For too long, utilities have defaulted to expensive grid buildouts and passed the costs onto customers, even when cheaper, faster solutions are available. This legislation changes that.”
The bill will soon be heard in the House Environment and Transportation Committee and the Senate Education, Energy, and Environment Committee.