[Congressional Record Volume 147, Number 18 (Thursday, February 8, 2001)]
[Senate]
[Page S1220]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mrs. FEINSTEIN (for herself and Mrs. Boxer):
  S. 287. A bill to direct the Federal Energy Regulatory Commission to 
impose cost-of-service based rates on sales by public utilities of 
electric energy at wholesale in the western energy market; to the 
Committee on Energy and Natural Resources.
  Mrs. FEINSTEIN. I rise today to introduce a bill to direct the 
Federal Energy Regulatory Commission to institute cost-of-service based 
rates with a reasonable rate of return on energy produced in the 
western energy market.
  I had planned on introducing this bill as an amendment to the 
pipeline safety bill but I understand that the chairman of the Energy 
and Natural Resources Committee, Senator Murkowski and the ranking 
member of that committee, Senator Bingaman, would be amendable to 
scheduling a hearing on this bill before the end of the month, if the 
legislation is introduced as a stand-alone bill rather than as an 
amendment to the pipeline safety bill.
  After the hearing, I intend to exercise my right under the rules of 
the committee to ask that the chairman put this bill on the schedule 
for mark-up.
  Mr. MURKOWSKI. I remain concerned about the energy crisis that is 
affecting not just California but other Western states as well. I am 
willing to hold a hearing on your legislation during the week of 
February 26, right after the Senate recess.
  I cannot commit to a markup of the bill, but I expect that the 
Senator's legislation will be given its due consideration by the 
committee in a timely manner.
  Mr. BINGAMAN. The situation in California is very serious. It is now 
affecting not only the price and supply of electricity in California 
but the price and supply of electricity throughout the West. It poses a 
grave danger to the economy of the nation as a whole. The State of 
California is doing what it can to cope with this crisis. It is past 
time for the Federal Energy Regulatory Commission to use its existing 
authority to bring wholesale prices under control.
  I commend the Senator from California, Senator Feinstein, for her 
initiative in crafting the bill, and the chairman of the Energy 
Committee, Senator Murkowski, for agreeing to give us a hearing on it.
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