[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 635 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 635

   To amend the Federal Power Act to protect consumers of multistate 
                utility systems, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

               March 23 (legislative day, March 3), 1993

  Mr. Riegle introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend the Federal Power Act to protect consumers of multistate 
                utility systems, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be referred to as the ``Multistate Utility Company 
Consumer Protection Act of 1993''.

SEC. 2. AFFILIATE CHARGES.

    (a) Section 205(a) of the Federal Power Act (16 U.S.C. 824d(a)) is 
amended--
            (1) by inserting ``(1)'' immediately after ``(a)''; and
            (2) by adding at the end the following:
    ``(2) Notwithstanding any provision of the Public Utility Holding 
Company Act of 1935, if a public utility engages in a transaction with 
an affiliated company, the Commission shall have the authority to 
review and disallow the costs associated with such transaction for the 
purposes of determining a just and reasonable rate under subsection 
(a)(1).''.
    (b) Section 206(a) of the Federal Power Act (16 U.S.C. 824e(a)) is 
amended--
            (1) by inserting ``(1)'' immediately after ``(a)''; and
            (2) by adding at the end the following:
    ``(2) Notwithstanding any provision of the Public Utility Holding 
Company Act of 1935, if a public utility engages in a transaction with 
an affiliated company, the Commission shall have the authority to 
review and disallow the costs associated with such transaction for the 
purposes of determining a just and reasonable rate under subsection 
(a)(1).''.

SEC. 3. TRANSFER OF AUTHORITY.

    There are hereby transferred to, and vested in, the Federal Energy 
Regulatory Commission all of the functions of the Securities and 
Exchange Commission under the Public Utility Holding Company Act of 
1935.

SEC. 4. CONFORMING AMENDMENTS.

    (a) Section 2(a)(6) of the Public Utility Holding Company Act of 
1935 (15 U.S.C. 79b(a)(6)) is amended to read as follows:
            ``(6) `Commission' means the Federal Energy Regulatory 
        Commission.''.
    (b) Section 12(i) of the Public Utility Holding Company Act (15 
U.S.C. 791(i)) is amended by striking out ``or Federal Power 
Commission, or any member, officer, or employee of either such 
Commission'' in the first sentence and inserting in lieu thereof ``or 
any member, officer, or employee of the Commission''.
    (c) Section 20(d) of the Public Utility Holding Company Act (15 
U.S.C. 79t(d)) is repealed.
    (d) Section 21 of the Public Utility Holding Company Act of 1935 
(15 U.S.C. 79u) is amended to read as follows:
    ``Sec. 21. Nothing in this title shall affect--
            ``(1) the jurisdiction of the Securities and Exchange 
        Commission under the Securities Act of 1933, or the Securities 
        Exchange Act of 1934 over any person, security, or contract;
            ``(2) the rights, obligations, duties, or liabilities of 
        any person under the Securities Act of 1933 or the Securities 
        Exchange Act of 1934; or
            ``(3) the jurisdiction of any other commission, board, 
        agency, or officer of the United States (or of any State or 
        political subdivision of any State) over any person, security, 
        or contract.''.
    (e) Section 32(a) of the Public Utility Holding Company Act is 
amended by striking out ``and shall notify the Commission whenever a 
determination is made under this paragraph that any person is an exempt 
wholesale generator'' in the fourth sentence.
    (f) Section 318 of the Federal Power Act (16 U.S.C. 825q) is 
amended to read as follows:
    ``Sec. 318. If any person is subject to both--
            ``(1) a requirement of the Public Utility Holding Company 
        Act of 1935 (or to a rule, regulation, or order issued pursuant 
        to the Public Utility Holding Company Act of 1935); and
            ``(2) a requirement of this title (or to a rule, 
        regulation, or order issued pursuant to this title) with 
        respect to the same subject matter, the Commission shall 
        consolidate consideration of the matter into a single 
        proceeding and resolve the matter in a manner consistent with 
        the purposes of both statutes.''.

SEC. 5. AFFILIATE TRANSACTIONS.

    (a) Section 13(b) of the Public Utility Holding Company Act of 1935 
(15 U.S.C. 79m(b)) is amended by striking out ``at cost'' in the first 
sentence and inserting in lieu thereof ``at a price not to exceed 
cost''.
    (b) Section 13(d) of the Public Utility Holding Company Act of 1935 
(15 U.S.C. 79m(d)) is amended by striking out ``at cost'' in the second 
sentence and inserting in lieu thereof ``at a price not to exceed 
cost''.

SEC. 6. INCREASED EFFICIENCY.

    Not later than 6 months after the date of enactment of this Act, 
the Federal Energy Regulatory Commission shall promulgate rules to 
eliminate duplication in the administration of the Public Utility 
Holding Company Act and the Federal Power Act.

                                 <all>