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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.