Maryland Energy: $200 million fund targets power costs

Maryland residents may see changes to their utility bills as the state allocates $200 million for new power infrastructure. Governor Wes Moore announced the Megawatts for Maryland initiative on October 26. The funds will support renewable energy generation and battery storage projects designed to expand electricity supplies.

The program will operate over two years, distributing up to $100 million annually. The state’s Strategic Energy Investment Fund will manage these competitive grants. Developers will use the money to finance large-scale facilities. State officials argue that increased local generation can reduce pressure on regional rates.

The initiative targets the addition of several hundred megawatts of capacity. This new supply could serve more than 150,000 homes each year. However, the governor’s office notes that immediate bill relief is not guaranteed. New facilities must first secure financing, complete construction, and begin operations before they impact household costs.

The Maryland Energy Administration will oversee the competitive bidding process. Developers must apply in two stages. Preliminary applications are due by November 30, 2026. Final bids from qualified applicants are due on January 22, 2027. Grant awards will prioritize proposals that request the lowest public subsidy relative to the electricity produced.

The program was established under the 2026 Utility RELIEF Act. That legislation also provided $100 million in direct relief for utility customers. Governor Moore has also pressed the regional grid operator, PJM, to address rising costs driven by electricity demand, including pressure from data centers. The new grants aim to strengthen the state’s energy supply and improve affordability over time.