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A BILL TO BE ENTITLED
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AN ACT
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relating to correcting the prices of wholesale power and ancillary |
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services sold in the ERCOT market during a certain period. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. In this Act, the term "ERCOT" has the meaning |
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assigned by Section 31.002, Utilities Code. |
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SECTION 2. The legislature finds that: |
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(1) there is a compelling public interest in |
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correcting the prices of wholesale power and ancillary services |
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sold in the ERCOT market during the period beginning 11:55 p.m., |
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February 17, 2021, and ending 9 a.m., February 19, 2021; and |
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(2) the Public Utility Commission of Texas has all |
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necessary authority under Section 39.151(d), Utilities Code, to |
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order a correction of prices of wholesale power and ancillary |
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services sold in the ERCOT market during the period described by |
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Subdivision (1) of this section in accordance with this Act. |
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SECTION 3. (a) The Public Utility Commission of Texas |
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shall order the independent organization certified for the ERCOT |
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power region under Section 39.151, Utilities Code, to correct the |
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prices of wholesale power and ancillary services sold in the ERCOT |
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market during the period beginning 11:55 p.m., February 17, 2021, |
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and ending 9 a.m., February 19, 2021, to reflect the prices of |
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wholesale power and ancillary services that would have been paid in |
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the ERCOT market during that period absent any action of the |
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independent organization or commission to raise prices. |
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(b) By the order described by Subsection (a) of this |
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section, the Public Utility Commission of Texas shall require the |
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independent organization to issue all orders and take all other |
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actions necessary to correct the prices not later than March 20, |
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2021. |
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(c) Notwithstanding any other law: |
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(1) Chapter 551, Government Code, does not apply to a |
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meeting of the Public Utility Commission of Texas called for the |
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purpose of discussing or issuing an order as required by Subsection |
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(a) of this section; and |
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(2) the action of a single member of the Public Utility |
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Commission of Texas is sufficient to issue that commission's order |
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as required by Subsection (a) of this section if on the effective |
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date of this Act there is a vacancy in the office of a commissioner |
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of that commission. |
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SECTION 4. (a) Immediately on the governor's signing of |
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this Act, the governor shall: |
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(1) file this Act with the secretary of state; and |
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(2) notify the Public Utility Commission of Texas that |
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this Act has been signed. |
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(b) The Public Utility Commission of Texas shall issue the |
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order required by Section 3 of this Act immediately on receiving |
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notice under Subsection (a) of this section. |
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SECTION 5. 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. |