| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to disclosure of certain offers for the sale of |
|
|
electricity in wholesale transactions. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter D, Chapter 39, Utilities Code, is |
|
|
amended by adding Section 39.1517 to read as follows: |
|
|
Sec. 39.1517. DISCLOSURE OF CERTAIN WHOLESALE OFFERS. (a) |
|
|
This section applies to any entity that sells electricity at |
|
|
wholesale, including a power generation company, power marketer, |
|
|
municipally owned utility, electric cooperative, and river |
|
|
authority. |
|
|
(b) An entity that offers to sell electricity in a wholesale |
|
|
energy market at a price of more than $499 per megawatt hour shall |
|
|
disclose the offer to the independent organization certified under |
|
|
Section 39.151 that administers that market. The entity must send |
|
|
the disclosure to the organization at the time the entity makes the |
|
|
offer. |
|
|
(c) Not later than the 48th hour after the hour the |
|
|
independent organization receives a disclosure under Subsection |
|
|
(b), the organization shall post on the organization's publicly |
|
|
available Internet website: |
|
|
(1) the identity of the entity that made the offer; |
|
|
(2) the price at which the offer was made; and |
|
|
(3) the market location and period for which the offer |
|
|
was made. |
|
|
SECTION 2. This Act applies only to an offer to sell |
|
|
electricity that is made on or after the effective date of this Act. |
|
|
An offer made before the effective date of this Act is governed by |
|
|
the law in effect on the date the offer was made, and that law is |
|
|
continued in effect for that purpose. |
|
|
SECTION 3. This Act takes effect September 1, 2011. |