In this subtitle, the following terms have the meanings indicated. Terms Defined. “Commission” means the Public Service Commission of Maryland. “Customer” has the meaning stated in Public Utilities Article, §7-501, Annotated Code of Maryland. “Electric company” has the meaning stated in Public Utilities Article, §1-101, Annotated Code of Maryland. “FERC” means the Federal Energy Regulatory Commission. “HPS” means hourly priced nonresidential electricity service provided by an investor-owned electric company. “LMP” means locational marginal price. “PJM” means the PJM Interconnection, LLC. “Standard offer service” or (SOS) has the meaning stated in Public Utilities Article, §7-501, Annotated Code of Maryland. “Type I” means standard offer service provided by a utility under Public Utilities Article, §7-510(c), Annotated Code of Maryland, to certain commercial customers through a Commission-approved rate schedule. Type II. “Type II” means standard offer service offered by a utility to nonresidential customers ineligible for Type I service with a PJM capacity peak load contribution of less than 600 kilowatts (kW). “Type II” does not include nonresidential electricity supply service provided to a customer ineligible for Type I service with a PJM capacity peak load contribution of less than 600 kilowatts (kW) receiving electric supply service under an existing special electric supply contract with a utility. Type III. “Type III” means a large customer taking regulated electric supply service from a utility available to a nonresidential customer ineligible for Type I or Type II service. “Type III” does not include a large customer with a special electric supply contract with a utility or excluded by a Commission order. “Utility” means an electric company that is investor owned.