82R10383 ALL-F
By: Elkins H.B. No. 3248
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.