| Home > 106th Congressional Bills > S. 682 (is) To implement the Hague Convention on Protection of Children and Co- operation in Respect of Intercountry Adoption, and for other purposes. [Introduced in Senate] ...
S. 682 (is) To implement the Hague Convention on Protection of Children and Co- operation in Respect of Intercountry Adoption, and for other purposes. [Introduced in Senate] ...
108th CONGRESS 1st Session S. 681 To provide for the enhanced protection of electricity consumers under the Federal Power Act. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 21, 2003 Ms. Cantwell (for herself and Mrs. Murray) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources _______________________________________________________________________ A BILL To provide for the enhanced protection of electricity consumers under the Federal Power Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as ``The Electricity Market Manipulation Prevention Act''. SEC. 2. MARKET-BASED RATES. Section 205 of the Federal Power Act (16 U.S.C. 824d) is amended by adding at the end the following: ``(g) Market-Based Rates.-- ``(1) In general.--For each public utility granted the authority by the Commission to sell wholesale electric energy at market-based rates, 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 market-based rates to determine whether sales by the public utility in that market are subject to effective competition. ``(2) No effective competition.--On determining that sales in a market by a public utility are not subject to effective competition, the Commission shall issue an order immediately revoking the authority of the public utility to sell wholesale electric energy at market-based rates in that market. ``(3) Condition.--In each authorization to a public utility to sell wholesale electric energy at market-based rates, the Commission shall include a condition requiring the public utility to notify the Commission promptly of any change in any characteristic of the market that the Commission relied on in granting the authority.''. SEC. 3. REMEDIES. Section 206 of the Federal Power Act (16 U.S.C. 824e) is amended by adding at the end the following: ``(d) Market-Based Rates.--The Commission shall issue an order immediately revoking or modifying the authority of a public utility to sell electric energy at market-based rates if, after a hearing had upon its own motion or upon complaint, the Commission finds that-- ``(1) a rate charged by the public utility authorized to sell electric energy at market-based rates in a wholesale electric energy market is unjust, unreasonable, unduly discriminatory or preferential; ``(2) the public utility has intentionally engaged in an activity in a wholesale electric energy market that violates any rule, tariff, or order of the Commission; or ``(3) the public utility has engaged in or attempted to engage in fraudulent, manipulative, or deceptive activity in a wholesale electric energy market. ``(e) Fraudulent, Manipulative, or Deceptive Activities.-- Notwithstanding subsection (a), if the Commission finds that a public utility has engaged in or attempted to engage in a fraudulent, manipulative, or deceptive activity in a wholesale electric energy market, the Commission shall-- ``(1) establish the just and reasonable rate for all prospective sales subject to the jurisdiction of the Commission made by the public utility; and ``(2) require the public utility to refund any revenues collected in excess of the average wholesale power cost of service within the regional power market for the period in which the public utility engaged in the activity. ``(f) Public Interest Standard.-- ``(1) In general.--Except as provided in paragraph (2), the Commission shall not apply the public interest standard in a proceeding under this section for review of a transaction executed at market-based rates. ``(2) No effective competition.--If the public interest standard is explicitly contained in the contract at issue in a proceeding described in paragraph (1), the Commission shall apply the public interest standard in the proceeding unless the Commission finds that the contract was not subject to effective competition.''. <all>
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