Texas 2019 - 86th Regular

Texas Senate Bill SB1211 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	S.B. No. 1211
	1	+	By: Hancock S.B. No. 1211
	2	+	(King of Parker, Patterson, Harless, Parker,
	3	+	Hernandez)
2	4
3	5
	6	+	A BILL TO BE ENTITLED
4	7		AN ACT
5	8		relating to regulation of mergers and consolidations of power
6	9		generation companies.
7	10		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
8	11		SECTION 1. Section 39.158, Utilities Code, is amended by
9	12		amending Subsection (a) and adding Subsections (a-1), (a-2), and
10	13		(a-3) to read as follows:
11	14		(a) A power generation company [An owner of electric
12	15		generation facilities] that offers electricity for sale in this
13	16		[the] state in a power region open to customer choice and proposes a
14	17		transaction to merge, consolidate, or otherwise become affiliated
15	18		with another power generation company [owner of electric generation
16	19		facilities] that offers electricity for sale in this state in the
17	20		same power region shall obtain the approval of the commission
18	21		before closing if the merged, consolidated, or affiliated entity
19	22		would own and control more than 10 [electricity offered for sale in
20	23		the power region by the merged, consolidated, or affiliated entity
21	24		will exceed one] percent of the total installed generation capacity
22	25		located in, or capable of delivering electricity to, [electricity
23	26		for sale in] the power region.
24	27		(a-1) An [The] approval required by Subsection (a) must
25	28		[shall] be requested at least 120 days before the date of the
26	29		proposed closing of the transaction.
27	30		(a-2) The commission shall approve a [the] transaction
28	31		described by Subsection (a) unless the commission finds that the
29	32		transaction results in a violation of Section 39.154. If the
30	33		commission finds that the transaction as proposed would violate
31	34		Section 39.154, the commission may condition approval of the
32	35		transaction on adoption of reasonable modifications to the
33	36		transaction as prescribed by the commission to mitigate potential
34	37		market power abuses.
35	38		(a-3) If the commission does not issue an order consistent
36	39		with Subsection (a-2) before the 121st day after the date the
37	40		commission receives a request for approval under Subsection (a),
38	41		the request is considered approved by the commission.
39	42		SECTION 2. Section 39.158(a), Utilities Code, as amended by
40	43		this Act, and Sections 39.158(a-1), (a-2), and (a-3), Utilities
41	44		Code, as added by this Act, apply only to a request for an approval
42	45		of a transaction received by the Public Utility Commission of Texas
43	46		on or after the effective date of this Act. A request for an
44	47		approval received by that commission before the effective date of
45	48		this Act is governed by the law in effect immediately before the
46	49		effective date of this Act, and that law is continued in effect for
47	50		that purpose.
48	51		SECTION 3. This Act takes effect September 1, 2019.
49		-	______________________________ ______________________________
50		-	President of the Senate Speaker of the House
51		-	I hereby certify that S.B. No. 1211 passed the Senate on
52		-	April 11, 2019, by the following vote: Yeas 31, Nays 0.
53		-	______________________________
54		-	Secretary of the Senate
55		-	I hereby certify that S.B. No. 1211 passed the House on
56		-	May 17, 2019, by the following vote: Yeas 141, Nays 1, two
57		-	present not voting.
58		-	______________________________
59		-	Chief Clerk of the House
60		-	Approved:
61		-	______________________________
62		-	Date
63		-	______________________________
64		-	Governor