[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 723 Introduced in Senate (IS)]






108th CONGRESS
  1st Session
                                 S. 723

   To amend the Federal Power Act to provide refunds for unjust and 
  unreasonable charges on electric energy in the State of California.


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                   IN THE SENATE OF THE UNITED STATES

                             March 26, 2003

 Mrs. Boxer introduced the following bill; which was read twice and 
        referred to the Committee on Energy and Natural ResourcesYYYYYY

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                                 A BILL


 
   To amend the Federal Power Act to provide refunds for unjust and 
  unreasonable charges on electric energy in the State of California.

    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 ``Electricity Gouging Refund Act of 
2003''.

SEC. 2. REFUNDS FOR EXCESSIVE CHARGES.

    Section 206 of the Federal Power Act (16 U.S.C 824e) is amended by 
adding at the end the following:
    ``(e) Refunds for Excessive Charges.--
            ``(1) In general.--
                    ``(A) Refunds.--Notwithstanding any other provision 
                of this section, not later than 60 days after the date 
                of enactment of this subsection, the Commission shall 
                issue an order requiring a refund of the portion of 
                charges on the transmission or sale of electric energy 
                that are or have been found by the Commission to be 
                unjust or unreasonable.
                    ``(B) Interest.--A refund under subparagraph (A) 
                shall include interest from the date on which the 
                charges were paid.
                    ``(C) Amount.--The total amount of refunds ordered 
                under subparagraph (A) shall be not less than 
                $8,900,000,000.
            ``(2) Applicability.--Paragraph (1) applies to charges for 
        electric energy transmitted or sold during the period beginning 
        on June 1, 2000, and ending on June 19, 2001.
    ``(f) Renegotiation of Contracts.--Not later than 30 days after the 
date of enactment of this subsection, the Commission shall order the 
renegotiation of the long-term electricity contracts entered into 
between the energy companies and the State of California between 
January 1 and May 31, 2001.''.
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