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Amend CSHB 1779 by adding a new SECTION to read as follows:
SECTION __. Subchapter D, Chapter 39, Utilities Code, is
amended by adding Section 39.1515 to read as follows:
Sec. 39.1515. WHOLESALE ELECTRIC MARKET MONITOR. (a) An
independent organization certified under Section 39.151 shall
contract with an entity selected by the commission to act as the
commission's wholesale electric market monitor to detect and
prevent market manipulation strategies and recommend measures to
enhance the efficiency of the wholesale market.
(b) The independent organization shall provide to the
personnel of the market monitor:
(1) full access to the organization's main operations
center and the organization's records that concern operations,
settlement, and reliability; and
(2) other support and cooperation the commission
determines is necessary for the market monitor to perform the
market monitor's functions.
(c) The independent organization shall use money from the
rate authorized by Section 39.151(e) to pay for the market
monitor's activities.
(d) The commission is responsible for ensuring that the
market monitor has the resources, expertise, and authority
necessary to monitor the wholesale electric market effectively and
shall adopt rules and perform oversight of the market monitor as
necessary. The market monitor shall operate under the supervision
and oversight of the commission. The commission shall retain all
enforcement authority conferred under this title, and this section
may not be construed to confer enforcement authority on the market
monitor or to authorize the commission to delegate the commission's
enforcement authority to the market monitor. The commission by rule
shall define:
(1) the market monitor's monitoring responsibilities,
including reporting obligations and limitations;
(2) the standards for funding the market monitor,
including staffing requirements;
(3) qualifications for personnel of the market
monitor; and
(4) ethical standards for the market monitor and the
personnel of the market monitor.
(e) In adopting rules governing the standards for funding
the market monitor, the commission shall consult with a
subcommittee of the independent organization's governing body to
receive information on how money is or should be spent for
monitoring functions. Rules governing ethical standards must
include provisions designed to ensure that the personnel of the
market monitor are professionally and financially independent from
market participants. The commission shall develop and implement
policies that clearly separate the policy making responsibilities
of the commission and the monitoring, analysis, and reporting
responsibilities of the market monitor.
(f) The market monitor immediately shall report directly to
the commission any potential market manipulations and any
discovered or potential violations of commission rules or rules of
the independent organization.
(g) The personnel of the market monitor may communicate with
commission staff on any matter without restriction.
(h) The market monitor annually shall submit to the
commission and the independent organization a report that
identifies market design flaws and recommends methods to correct
the flaws. The commission and the independent organization shall
review the report and evaluate whether changes to rules of the
commission or the independent organization should be made.