§7–318.

    (a)    Beginning July 1, 2025, a person may not engage in the business of an energy vendor in the State unless the person holds a license issued by the Commission.

    (b)    (1)    An application for an energy vendor license shall:

            (i)    be made to the Commission in writing on a form adopted by the Commission;

            (ii)    be verified by oath or affirmation; and

            (iii)    contain information that the Commission requires, including payment of the applicable licensing fee.

        (2)    (i)    The term of an energy vendor license is 3 years.

            (ii)    The terms of licenses may be staggered as determined by the Commission.

            (iii)    Unless a license is renewed for a 3–year term in accordance with this subsection, the license expires on the date that the Commission sets.

            (iv)    A licensee may renew a license for a 3–year term before the license expires if the licensee:

                1.    otherwise is entitled to be licensed;

                2.    submits to the Commission a renewal application on the form that the Commission provides; and

                3.    pays to the Commission the applicable renewal fee set by the Commission.

    (c)    The Commission shall, by regulation or order:

        (1)    require proof of financial integrity;

        (2)    require a licensee to post a bond or other similar instrument if, in the Commission’s judgment, the bond or similar instrument is necessary to ensure an energy vendor’s financial integrity; and

        (3)    adopt any other requirements the Commission finds to be in the public interest.

    (d)    A license issued under this section may not be transferred without prior Commission approval.