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Amend SB 743 on third reading by adding the following new
appropriately numbered SECTION and renumbering the remaining
SECTIONS:
SECTION . Subsection (c), Section 39.051, Utilities Code,
is amended as follows:
(c) An electric utility may accomplish the separation
required by Subsection (b) either through the creation of separate
nonaffiliated companies or separate affiliated companies owned by a
common holding company or through the sale of assets to a third
party. An electric utility may create separate transmission and
distribution utilities. Notwithstanding any other provision of
this Chapter, an electric utility that does not have stranded costs
described by Section 39.254 and that on September 1, 2005 has not
finalized unbundling pursuant to a commission order approving an
unbundling plan may also meet the requirements of Subsection (b)
for generation facilities existing on September 1, 2005 in the
Electric Reliability Council of Texas if it meets and maintains
compliance with the following requirements:
(1) the electric utility has no more than 400 megawatts
of Texas jurisdictional capacity from generating units within the
Electric Reliability Council of Texas that have not been mothballed
or retired;
(2) the electric utility has a contract or contracts
with separate nonaffiliated companies or separate affiliated
companies for the sale of all of the output from its generating
units that have not been mothballed or retired with a contract term
that is no shorter than twenty years or the life of the generating
units, whichever is shorter; and
(3) the electric utility has a separate division within
the electric utility for its generation business activities.
(c-1) A separate division described by Subsection (c)(3) is
subject to subsection (d) and, for the purposes of this Chapter, is
considered a separate affiliated power generation company and a
competitive affiliate.