S.Amdt. 1458

1. Rewrites section 1182

   Replaces

   In S. 14 · Placed on Calendar Senate

   Struck: SEC. 1182. UNFAIR TRADE PRACTICES.

   Struck: (a) Slamming.--The Federal Trade Commission shall issue rules prohibiting the change of selection of an electric utility except with the informed consent of the electric consumer or if determined by the appropriate State regulatory authority to be necessary to prevent loss of service.

   Struck: (b) Cramming.--The Federal Trade Commission shall issue rules prohibiting the sale of goods and services to an electric consumer unless expressly authorized by law or the electric consumer.

   Struck: (c) State Authority.--If the Federal Trade Commission determines that a State's regulations provide equivalent or greater protection than the provisions of this section, such State regulations shall apply in that State in lieu of the regulations issued by the Commission under this section.

   Inserted: SEC. ____. MARKET-BASED RATES.

   Inserted: (a) Approval of Market-Based Rates.--Section 205 of the Federal Power Act (16 U.S.C. 824d) is amended by adding at the end the following:

   Inserted: "(h) Market-Based Rates.--

   Inserted: "(1) In general.--In determining whether to grant a public utility authority to sell wholesale electric energy at a market-based rate, the Commission shall consider--

   Inserted: "(A) whether the seller and affiliates of the seller have, or have adequately mitigated, market power in the generation and transmission of electric energy;

   Inserted: "(B) whether the sale is made in an effectively competitive market;

   Inserted: "(C) whether market mechanisms function adequately;

   Inserted: "(D) the adequacy of reserve margins; and

   Inserted: "(E) such other matters as the Commission considers to be appropriate and in the public interest.

   Inserted: "(2) Annual review.--

   Inserted: "(A) In general.--For each public utility granted the authority by the Commission to sell wholesale electric energy at a market-based rate, the Commission shall review, at least annually, the characteristics of each market in which the public utility is authorized to sell wholesale electric energy at a market-based rate to determine whether sales by the public utility in that market are subject to effective competition.

   Inserted: "(B) Corrective action.--If, in a review under subparagraph (A), the Commission determines that effective competition does not exist, the Commission shall take appropriate corrective action.".

   Show 4 more inserted paragraphsShow less

   Inserted: (b) Review of Market-Based Rates.--Section 206 of the Federal Power Act (16 U.S.C. 824e) is amended by adding at the end the following:

   Inserted: "(f) Market-Based Rules.--If the Commission, after a hearing on its own motion or on complaint, finds that a rate charged by a public utility authorized to charge a market-based rate under section 205 is unjust, unreasonable, or unduly discriminatory or preferential, the Commission shall--

   Inserted: "(1) determine the just and reasonable rate and fix the rate by order in accordance with this section; or

   Inserted: "(2) order such other action as will, in the judgment of the Commission, ensure a just and reasonable market-based rate.".

   Original wording

   Strike section 1182 and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed