Marylanders are outraged about their rising utility bills. Monthly payments to keep their lights on and heat running are rivaling grocery bills.

Although utility costs are just one component of an increasingly unaffordable world, Annapolis lawmakers have promised to offer relief this legislative session.

A score of energy-related bills have been filed, but lawmakers’ first bite at the apple, House Bill 1, is aimed at the people who run these utilities. House Speaker Joseline Peña-Melnyk, whose chamber voted overwhelmingly to pass the measure, called it her caucus’ “No. 1 priority.” Environmental and consumer advocacy groups also back the bill.

Companies such as Exelon, which owns Baltimore Gas and Electric and Pepco, are raking in profits, and their executives are paid by the millions. Last year, Exelon made $2.7 billion in profit, its most recent earnings report shows.

The proposed law would prevent utility companies from charging customers for supervisor compensation beyond roughly $260,000. The companies could still pay high salaries, but the money would have to come out of profits.

Divorcing that compensation from customer rates should theoretically lead to savings. And, at first glance, the law reads as though it’s sticking it to the fat cats of capitalism.

But dig in further and it doesn’t do much.

The Public Service Commission, the entity that regulates utility rates in Maryland, already has the authority to review whether executive compensation and employee costs should be passed on to utility customers, according to testimony it submitted.

Second, the proposal, which is almost certain to pass the Senate, might not provide much of a discount to consumers.

BGE was the lone company to provide an approximate savings — Pepco and Delmarva Power, another Exelon subsidiary, could not reliably generate an estimate. The original version of the proposal, which went after executive bonuses, would have saved the average BGE customer $1.70 per bill, or $20.40 a year.

The bill was amended to exclude certain employees and types of compensation, and now BGE’s number crunchers estimate the average residential energy customer would save 80 cents per bill, or $9.60 a year.

Put another way, regulating utilities is so cumbersome it took an act of the legislature to potentially save some utility customers enough money to purchase a Big Mac.

“I don’t care whether it’s a dollar, $2, $40. It does reduce utility bills,” Del. Linda Foley, a Montgomery County Democrat and one of House Bill 1’s many cosponsors, said on the House floor.

Although 80 cents per bill is nothing for a single customer, added up across every customer the difference is significant for the power companies.

Exelon and its subsidiaries pushed back hard against the bill in committee hearings.

Anne Klase, Pepco’s in-house lobbyist, submitted written testimony to the House Environment and Transportation Committee suggesting further regulation of the energy industry could lead to pulled-back investments in Maryland.

“Creating a unique regulatory burden for one sector may raise broader concerns for companies evaluating long term investment in the state,” Klase wrote, noting the state is seeking to reshape its economy after losing 25,000 federal jobs last year.

Paying compensation out of profits instead of customer rates could also lower Exelon’s stock valuation. That could hurt people’s pension and investment portfolios, a company official said. Exelon’s stock price is up 9% this year, and it’s unclear how much it could be impacted.

The fight over the bill spilled onto the House floor, a dayslong debate that was remarkably spirited given how predestined the outcome was — the first bills introduced in either chamber of the General Assembly almost always become law, given the Democratic super majorities.

Republicans, though outnumbered 2 to 1, argued vociferously. “The bill doesn’t do anything,” they’d say, which was usually met with “yes, it does” and “something is better than nothing.”

At one point, lawmakers were poorly quoting Chinese proverbs to explain their positions.

“The first step in a 10,000-mile journey begins with the first step,” Del. David Fraser-Hidalgo said, taking liberties with the Taoist proverb “a journey of a thousand miles begins with a single step.”

Fraser-Hidalgo, a Montgomery County Democrat, said this was only the beginning of what the legislature would take up this session.

Not to be outdone, Del. Brian Chisholm, Republican of Anne Arundel County, took Chinese wisdom — “Muddy waters makes it easy to catch fish” — and offered his own version.

“I’m just trying to clear the waters here,” Chisholm said. “I want people to fully understand what we’re looking at.” The PSC should just continue to handle the issue, he said.

At the same time the legislature is working to send House Bill 1 — its companion legislation is Senate Bill 2 — to the governor, a Democratic state senator introduced legislation that could help the companies make even more money.

Sen. Kevin Harris, who represents parts of Calvert, Charles and Prince George’s counties, is backing a controversial bill that would allow Exelon to build and operate power plants in Maryland, passing the costs on to customers.

Top lawmakers, including Gov. Wes Moore and Senate President Bill Ferguson, both Democrats, have argued the state needs to produce more of its own power to ensure reliable and more affordable energy— more supply should lower rates — but neither has committed to Exelon’s proposal.

Even if the power plant bill passes — Ferguson expressed skepticism at a news conference last week — it would be years before new facilities come online. That means potential savings are far out.

There are other avenues for the legislature to bring relief to utility customers. Last year, lawmakers provided Marylanders with one-time rebates. Moore proposed a similar plan this year, though Ferguson is unsure whether it would be a one-time discount or something doled out over time.

Another piece of potential legislation, from Del. Elizabeth Embry, a Baltimore Democrat, would place more regulatory scrutiny on infrastructure improvements such as new transmission lines, to make sure they’re needed and that customers aren’t being overbilled for them.

At this point in the proceedings — it’s still February — details on lots of bills are being worked out. But one thing is clear: More needs to get done.

“I think we want to look beyond just 80 cents to the degree feasible,” Ferguson said.