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A BILL TO BE ENTITLED
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AN ACT
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relating to the procedure by which prices are established in |
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competitive wholesale electric energy and capacity markets. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 39, Utilities Code, is |
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amended by adding Section 39.1516 to read as follows: |
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Sec. 39.1516. PRICES IN WHOLESALE ELECTRICITY MARKETS. (a) |
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The legislature finds that a wholesale market in which all sellers |
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receive a price that is based on the highest price accepted by an |
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independent organization certified under Section 39.151 is not in |
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the public interest and is harmful to the availability of just and |
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reasonable electric rates in areas with competitive energy markets. |
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As a result, an independent organization certified under Section |
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39.151 may not establish the price paid to a seller in a wholesale |
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market based on the highest bid accepted by the organization in |
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order to meet the energy or capacity requirements of the market. |
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(b) The commission shall adopt rules establishing a |
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wholesale market consistent with these findings. The rules must |
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ensure that the price paid to a seller in a wholesale market |
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reflects the average price of the cost of all forms of energy |
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brought to the market. |
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SECTION 2. The Public Utility Commission of Texas shall |
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adopt rules consistent with Section 39.1516, Utilities Code, as |
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added by this Act, not later than July 1, 2010. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |