TX
Texas House Bill HB2553

Texas 2019 - 86th Regular

Texas House Bill HB2553 Compare Versions

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1-86R19737 BRG-D
2- By: King of Parker, Patterson, Harless, H.B. No. 2553
3- Parker, Hernandez
4- Substitute the following for H.B. No. 2553:
5- By: Parker C.S.H.B. No. 2553
1+86R7223 BRG-D
2+ By: King of Parker H.B. No. 2553
63
74
85 A BILL TO BE ENTITLED
96 AN ACT
107 relating to regulation of mergers and consolidations of power
118 generation companies.
129 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1310 SECTION 1. Section 39.158, Utilities Code, is amended by
14- amending Subsection (a) and adding Subsections (a-1), (a-2), and
15- (a-3) to read as follows:
11+ amending Subsection (a) and adding Subsections (a-1) and (a-2) to
12+ read as follows:
1613 (a) A power generation company [An owner of electric
17- generation facilities] that offers electricity for sale in this
18- [the] state in a power region open to customer choice and proposes a
14+ generation facilities] that offers electricity for sale in a power
15+ region open to customer choice [the state] and proposes a
1916 transaction to merge, consolidate, or otherwise become affiliated
2017 with another power generation company [owner of electric generation
21- facilities] that offers electricity for sale in this state in the
22- same power region shall obtain the approval of the commission
18+ facilities] that offers electricity for sale in the same power
19+ region [this state] shall obtain the approval of the commission
2320 before closing if the merged, consolidated, or affiliated entity
24- would own and control more than 10 [electricity offered for sale in
21+ would own or control more than 10 [electricity offered for sale in
2522 the power region by the merged, consolidated, or affiliated entity
2623 will exceed one] percent of the total installed generation capacity
2724 located in, or capable of delivering electricity to, [electricity
2825 for sale in] the power region.
2926 (a-1) An [The] approval required by Subsection (a) must
3027 [shall] be requested at least 120 days before the date of the
3128 proposed closing of the transaction.
3229 (a-2) The commission shall approve a [the] transaction
3330 described by Subsection (a) unless the commission finds that the
3431 transaction results in a violation of Section 39.154. If the
3532 commission finds that the transaction as proposed would violate
3633 Section 39.154, the commission may condition approval of the
3734 transaction on adoption of reasonable modifications to the
3835 transaction as prescribed by the commission to mitigate potential
3936 market power abuses.
40- (a-3) If the commission does not issue an order consistent
41- with Subsection (a-2) before the 121st day after the date the
42- commission receives a request for approval under Subsection (a),
43- the request is considered approved by the commission.
4437 SECTION 2. Section 39.158(a), Utilities Code, as amended by
45- this Act, and Sections 39.158(a-1), (a-2), and (a-3), Utilities
46- Code, as added by this Act, apply only to a request for an approval
47- of a transaction received by the Public Utility Commission of Texas
48- on or after the effective date of this Act. A request for an
49- approval received by that commission before the effective date of
50- this Act is governed by the law in effect immediately before the
51- effective date of this Act, and that law is continued in effect for
52- that purpose.
38+ this Act, and Sections 39.158(a-1) and (a-2), Utilities Code, as
39+ added by this Act, apply only to a request for an approval of a
40+ transaction received by the Public Utilities Commission of Texas on
41+ or after the effective date of this Act. A request for an approval
42+ received by that commission before the effective date of this Act is
43+ governed by the law in effect immediately before the effective date
44+ of this Act, and that law is continued in effect for that purpose.
5345 SECTION 3. This Act takes effect September 1, 2019.