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A BILL TO BE ENTITLED
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AN ACT
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relating to wholesale indexed products offered by retail electric |
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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. (a) In this |
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section, "wholesale indexed product" means a retail electric |
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product that includes in the rates charged for electricity a direct |
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pass through of real time settlement point prices calculated for |
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the ERCOT power region. |
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(b) A retail electric provider may not offer wholesale |
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indexed products to residential customers. |
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SECTION 2. As soon as practicable but not later than |
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December 1, 2021, the Public Utility Commission of Texas shall |
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adopt any rules necessary to enforce Section 39.110, Utilities |
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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. |