II
Calendar No. 87
109th CONGRESS
1st Session
S. 870
IN THE SENATE OF THE UNITED STATES
April 21, 2005
Ms. Cantwell introduced the following bill; which was read the first time
April 22, 2005
Read the second time and placed on the calendar
A BILL
To prohibit energy market manipulation.
Short title
This Act may be cited as the
Electricity Needs Rules and Oversight
Now (ENRON) Act
.
Prohibition of energy market manipulation
Prohibition
Part II of the Federal Power Act (16 U.S.C. 824 et seq.) is amended by adding at the end the following:
Prohibition of market manipulation
It shall be unlawful for any person, directly or indirectly, to use or employ, in connection with the purchase or sale of electric energy or the purchase or sale of transmission services subject to the jurisdiction of the Commission, any manipulative or deceptive device or contrivance in contravention of such regulations as the Commission may promulgate as appropriate in the public interest or for the protection of electric ratepayers.
.
Rates resulting from market manipulation
Section 205(a) of the Federal Power Act (16
U.S.C. 824d(a)) is amended by inserting after not just and
reasonable
the following: or that result from a manipulative or
deceptive device or contrivance
.
April 22, 2005
Read the second time and placed on the calendar