[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4826 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 4826

To amend the Federal Power Act to prohibit round trip sales of electric 
                     power, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2002

    Mr. Walden (for himself, Mr. John, Mr. DeFazio, and Mrs. Bono) 
 introduced the following bill; which was referred to the Committee on 
                          Energy and Commerce

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Power Act to prohibit round trip sales of electric 
                     power, 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 cited as the ``Truth in Electricity Trading Act of 
2002''.

SEC. 2. PROHIBITION OF ROUND TRIP SALES OF ELECTRIC POWER.

    (a) Prohibition.--Part II of the Federal Power Act is amended by 
adding the following new section at the end thereof:

``SEC. 215. PROHIBITION OF ROUND TRIP SALES OF ELECTRIC POWER.

    ``It shall be unlawful for any person or other entity to enter into 
any contract or other arrangement to purchase from any person or other 
entity and subsequently sell to such person or entity, or to sell to 
any person or other entity and subsequently purchase from such person 
or entity, within any 7-day period the same quantity of electric power 
at wholesale at the same price.''.
    (b) Jurisdiction.--(1) Sections 201(b)(2) and 201(e) of such Act 
are each amended by striking ``and 212'' and inserting ``212, and 
215''.
    (2) Section 201(f) of such Act is amended by inserting ``(other 
than section 215)''.
    (c) Penalties.--(1) Section 316(c) of such Act is amended by 
striking ``or 214'' and inserting ``214, or 215''.
    (2) Section 316A of such Act is amended by striking ``or 214'' in 
each place it appears and inserting ``214, or 215''.
                                 <all>