3.0.0 681 2023-01-15T23:03:27Z 2023-01-15T23:03:27Z Senate S S 2003-03-21 108 sseg00 Energy and Natural Resources Committee Senate Standing Referred to 2003-03-21T18:11:43Z 2003-03-21 sseg00 Energy and Natural Resources Committee Senate Read twice and referred to the Committee on Energy and Natural Resources. IntroReferral 2003-03-21 Sponsor introductory remarks on measure. (CR S4277-4278) IntroReferral B00100 9 Library of Congress 2003-03-21 Introduced in Senate IntroReferral 10000 9 Library of Congress C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA N M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2003-03-21 True Energy Commerce Contracts Crime and Law Enforcement Electric utilities Energy prices Fines (Penalties) Marketing Wholesale trade Energy 00 2003-03-21 Introduced in Senate 2003-07-15T20:58:05Z The Electricity Market Manipulation Prevention Act - Amends the Federal Power Act to instruct the Federal Energy Regulatory Commission (FERC) to review, at least annually, the characteristics of each market in which a public utility is authorized to sell wholesale electric energy at market-based rates to determine whether sales by the public utility in that market are subject to effective competition.

Requires FERC to revoke immediately the authority of a public utility to sell wholesale electric energy at market-based rates upon a determination that: (1) sales in a market by such utility are not subject to effective competition; (2) rates charged by the utility are unjust, unreasonable, unduly discriminatory or preferential; (3) the public utility has intentionally engaged in an activity in a wholesale electric energy market that violates a FERC rule, tariff, or order; or (4) the public utility has engaged in or attempted to engage in fraudulent, manipulative, or deceptive activity in a wholesale electric energy market.

Directs FERC, upon a finding of fraudulent, manipulative, or deceptive activity, to: (1) establish the just and reasonable rate for all prospective sales made by the public utility; and (2) require the public utility to refund any revenues collected in excess of the average wholesale power cost of service within the regional power market for the period in which the public utility engaged in the activity.

Prohibits FERC from applying the public interest standard in reviewing a transaction executed at market-based rates, unless: (1) the standard is explicitly contained in the contract at issue; and (2) FERC does not find that the contract was not subject to effective competition.

]]> Electricity Market Manipulation Prevention Act Display Title Electricity Market Manipulation Prevention Act Official Title as Introduced A bill to provide for the enhanced protection of electricity consumers under the Federal Power Act. Introduced in Senate IS Short Titles as Introduced Electricity Market Manipulation Prevention Act Introduced in Senate 2003-03-21T05:00:00Z 2003-03-21 Read twice and referred to the Committee on Energy and Natural Resources. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.