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A BILL TO BE ENTITLED
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AN ACT
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relating to the supply of power and the financial stability of the |
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competitive wholesale and retail electricity markets. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 39, Utilities Code, is amended by adding |
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Sections 39.1513 and 39.1514 to read as follows: |
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Sec. 39.1513 ADEQUACY OF SUPPLY IN THE WHOLESALE |
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ELECTRICITY MARKET (a) The commission shall adopt and enforce |
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rules to promote adequacy of generation supply. |
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(b) Rules adopted under subsection (a) shall require: |
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(1) appropriate price signals in the wholesale power |
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market; and |
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(2) seasonal or annual procurement of energy or |
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generation capacity. |
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(c) Rules adopted under this section regarding wholesale |
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power market price signals shall be designed to: |
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(1) moderate price volatility; and |
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(2) ensure revenues sufficient to encourage |
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construction and operation of dispatchable generation resources |
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necessary to ensure reliable power supply. |
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(d) The commission shall require the use of risk-weighted |
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analysis to determine the quantities to be procured under |
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subsection (b)(2). |
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(e) The commission shall ensure the costs of procuring |
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adequate generation supply under this section shall be equitably |
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apportioned to market participants. |
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Sec. 39.1514 FINANCIAL STABILITY OF WHOLESALE MARKET The |
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commission shall ensure that each participant in the wholesale |
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power market posts sufficient collateral or otherwise provides |
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sufficient assurance that it will meet its financial obligations |
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incurred in high and low customer demand conditions. |
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SECTION 2. This Act takes effect September 1, 2021. |