[rayiner]

That's mostly incorrect. In Maryland, like in most places in the country, the distribution infrastructure is controlled by regulated monopolies that buy power on the market from generators. Your bills separate out the fees for usage and the fees for distribution, and the Maryland PSC has to approve both.

[fooqux]

Yes, but the cost per kilowatt is at least partially based on capex recovery. That might be approved by the PSC but what they approve are capex projects and the recovery of them.