Substitute the following for the Oliveira Amendment to the P. 
King Amendment to CSSB 482:
	Amend Amendment No. 1 by P. King to CSSB 482 by adding the 
following appropriately numbered item to read as follows and 
renumbering subsequent items as necessary as follows:
	(__)  Add the following appropriately numbered SECTION to 
read as follows and renumber subsequent SECTIONS accordingly:
	SECTION ____.  Subchapter E, Chapter 39, Utilities Code, is 
amended by adding Section 39.2025 to read as follows:
	Sec. 39.2025.  ELECTRICITY RATE REDUCTION.  (a) In this 
section, "residential customers under a price to beat tariff on 
December 31, 2006" means residential customers who both:
		(1)  were served at the price to beat on December 31, 
2006; and      
		(2)  have not affirmatively chosen an electric service 
plan after December 31, 2006.
	(b)  Notwithstanding any other provision of this code, on the 
effective date of this section, a retail electric provider shall 
reduce the price charged to residential customers under a price to 
beat tariff on December 31, 2006, by 15 percent from the price 
charged on December 31, 2006.
	(c)  Every six months, the retail electric provider shall 
increase or decrease the price charged to residential customers 
under a price to beat tariff on December 31, 2006, by a percentage 
equal to the percentage by which alternative electric service plans 
increased or decreased during that period.
	(d)  Notwithstanding Subsections (b) and (c), the commission 
shall authorize a retail electric provider to adjust the price 
charged to residential customers under a price to beat tariff on 
December 31, 2006, to reflect increases in fuel costs resulting 
from natural disasters, other acts of God, or acts of war.
	(e)  This section expires September 1, 2009.