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A BILL TO BE ENTITLED
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AN ACT
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relating to the sale of wholesale indexed products by retail |
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electric providers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 39, Utilities Code, is |
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amended by adding Section 39.110 to read as follows: |
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Sec. 39.110. WHOLESALE INDEXED PRODUCTS PROHIBITED. (a) |
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In this section, "wholesale indexed product" means a retail |
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electric product in which the price a customer pays for electricity |
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includes a direct pass-through of real-time settlement point prices |
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determined by the independent organization certified under Section |
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39.151 for the ERCOT power region. |
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(b) A retail electric provider may not offer a wholesale |
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indexed product to a residential customer. |
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SECTION 2. Not later than December 1, 2021, the Public |
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Utility Commission of Texas shall adopt any rules necessary to |
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enforce Section 39.110, Utilities Code, as added by this Act. |
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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, 2021. |