(a) This section applies only to a public institution of higher education that owns, manages, or maintains a steam system or an electric system for the purpose of providing services exclusively for the benefit of the institution.
(b) A person that enters into an agreement or lease with a public institution of higher education to facilitate or undertake the financing, whole or partial ownership, operation, generation, construction, distribution, or maintenance of an on–site steam or electric generation, production, or distribution system for the institution may not be considered a public service company, as defined in § 1–101 of the Public Utilities Article, subject to the jurisdiction of the Public Service Commission as a result of the financing, leasing, ownership, operation, control, management, construction, distribution, or maintenance of the steam or electric system.