To amend section 203 of the Federal Power Act.

Mr. Speaker, I yield myself such time as I may consume.

I rise in support of H.R. 1109, sponsored by Representatives Walberg and Dingell, which would add a $10 million threshold to trigger FERC review of a merger or consolidation. This is a significant change to current law as established through the Energy Policy Act of 2005.

Obviously, FERC should not have to rely on trade publications or on word of mouth to know that merger or consolidation activity involving regulated utilities is occurring. This bill, as reported by the Energy and Commerce Committee, includes language requiring FERC to undertake a rulemaking to develop a short, simple, notification process for transactions above the $1

million mark that fall below the new $10 million threshold.

This addresses a problem, in that FERC lacked a standardized way to acquire the information necessary to know that these below-threshold transactions were occurring. Without that knowledge, it would be too easy for someone looking to evade the new $10 million threshold to break their transaction into smaller pieces and, thereby, escape review.

I want to commend the gentleman and the gentlewoman from Michigan for their work to address this matter. I think this is sensible legislation that reduces the burden on industry and on the government, while ensuring the public good is fully protected.

I urge the passage of this legislation, and I reserve the balance of my time.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1109) to amend section 203 of the Federal Power Act.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and insert extraneous material in the Record on the bill.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, this bill, H.R. 1109, is, again, a bipartisan bill introduced by the gentleman from Michigan (Mr. Walberg). It was reported by unanimous consent from the Energy and Commerce Committee. It amends the Federal Power Act with respect to the prohibition regarding mergers or consolidations by a public utility.

Any merger or consolidation of a public utility whose value exceeds $10 million must first be authorized by the Federal Energy Regulatory Commission. In addition, FERC is required to promulgate a rule within 180 days that mandates any public utility seeking to merge or consolidate to notify FERC within 30 days of transaction consummation if the value of such merger or consolidation exceeds $1 million but, in fact, is less than $10 million.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield such time as he may consume to the gentleman from Michigan (Mr. Walberg), the author of the legislation.

Mr. Speaker, I urge my colleagues to support this bipartisan legislation, and I yield back the balance of my time.

Mr. Speaker, I thank my colleague and friend from Michigan, the chairman of the Energy Subcommittee, as well as the ranking member of the subcommittee for this opportunity.

I also want to start off by thanking the Energy and Commerce Committee staff on both sides of the aisle for their time and work on this issue.

Additionally, I would like also to thank my colleague, Debbie Dingell, for being an original cosponsor of H.R. 1109 and helping advance this bipartisan and, might I add, commonsense rule.

Based on current statute, the Federal Energy Regulatory Commission takes the position that approval from the Commission is necessary for all mergers and acquisitions, no matter how small or insignificant the value of the facilities involved, even down to zero.

FERC's interpretation has led to trivial paperwork that bogs down the Commission and creates unnecessary red tape for American businesses, ultimately increasing utility bills for the consumer. H.R. 1109 will help reduce excessive paperwork burdens and bring down energy prices for American families.

This bipartisan solution unties FERC's hands and allows the Commission to ensure American consumers are getting the most affordable and reliable electricity possible in a commonsense sort of way. Mr. Speaker, I urge my colleagues to support H.R. 1109.

Mr. President, I ask unanimous consent that the committee-reported amendments be agreed to, the bills, as amended, be considered read a third time en bloc.

I know of no further debate on the bills, as amended, en bloc.

PRESIDING OFFICER. The bills having been read the third time, the question is, Shall the bills pass en bloc?

The bill (H.R. 1109), as amended, was passed.

The bill (S. 186), as amended, was passed.

I ask unanimous consent that the motions to reconsider be considered made and laid upon the table, all en bloc.

Mr. Speaker, I ask unanimous consent to take from the Speaker's table the bill (H.R. 1109) to amend section 203 of the Federal Power Act, with the Senate amendment thereto, and concur in the Senate amendment.