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(b) EFFECT ON OTHER COMMISSION AUTHORITY.--Nothing in this subtitle limits the authority of the Commission under the Federal
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SEC. 232. IMPLEMENTATION.
Not later than 18 months after the date of enactment of this subtitle, the Commission shall--
(1) promulgate such regulations as may be necessary or appropriate to implement this subtitle (other than section 225); and
(2) submit to the Congress detailed recommendations on technical and conforming amendments to Federal law necessary to carry out this subtitle and the amendments made by this subtitle.
SEC. 233. TRANSFER OF RESOURCES.
All books and records that relate primarily to the functions transferred to the Commission under this subtitle shall be transferred from the Securities and Exchange Commission to the Commission.
SEC. 234. INTER-AGENCY REVIEW OF COMPETITION IN THE WHOLESALE AND RETAIL MARKETS FOR ELECTRIC ENERGY.
(a) TASK FORCE.--There is established an inter-agency task force, to be known as the ``Electric Energy Market Competition Task Force'' (referred to in this section as the ``task force''), which shall consist of--
(1) 1 member each from--
(A) the Department of Justice, to be appointed by the Attorney General of the United States;
(B) the Federal Energy Regulatory Commission, to be appointed by the chairman of that Commission; and
(C) the Federal Trade Commission, to be appointed by the chairman of that Commission; and
(2) 2 advisory members (who shall not vote), of whom--
(A) 1 shall be appointed by the Secretary of Agriculture to represent the Rural Utility Service; and
(B) 1 shall be appointed by the Chairman of the Securities and Exchange Commission to represent that Commission.
(b) STUDY AND REPORT.--
(1) STUDY.--The task force shall perform a study and analysis of the protection and promotion of competition within the wholesale and retail market for electric energy in the United States.
(2) REPORT.--
(A) FINAL REPORT.--Not later than 1 year after the effective date of this subtitle, the task force shall submit a final report of its findings under paragraph (1) to the Congress.
(B) PUBLIC COMMENT.--At least 60 days before submission of a final report to the Congress under subparagraph (A), the task force shall publish a draft report in the Federal Register to provide for public comment.
(c) FOCUS.--The study required by this section shall examine--
(1) the best means of protecting competition within the wholesale and retail electric market;
(2) activities within the wholesale and retail electric market that may allow unfair and unjustified discriminatory and deceptive practices;
(3) activities within the wholesale and retail electric market, including mergers and acquisitions, that deny market access or suppress competition;
(4) cross-subsidization that may occur between regulated and nonregulated activities; and
(5) the role of State public utility commissions in regulating competition in the wholesale and retail electric market.
(d) CONSULTATION.--In performing the study required by this section, the task force shall consult with and solicit comments from its advisory members, the States, representatives of the electric power industry, and the public.
SEC. 235. GAO STUDY ON IMPLEMENTATION.
(a) STUDY.--The Comptroller General shall conduct a study of the success of the Federal Government and the States during the 18-month period following the effective date of this subtitle in--
(1) the prevention of anticompetitive practices and other abuses by public utility holding companies, including cross-subsidization and other market power abuses; and
(2) the promotion of competition and efficient energy markets to the benefit of consumers.
(b) REPORT TO CONGRESS.--Not earlier than 18 months after the effective date of this subtitle or later than 24 months after that effective date, the Comptroller General shall submit a report to the Congress on the results of the study conducted under subsection (a), including probable causes of its findings and recommendations to the Congress and the States for any necessary legislative changes.
SEC. 236. EFFECTIVE DATE.
This subtitle shall take effect 18 months after the date of enactment of this subtitle.
SEC. 237. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated such funds as may be necessary to carry out this subtitle.
SEC. 238. CONFORMING AMENDMENTS TO THE FEDERAL POWER ACT.
(a) CONFLICT OF JURISDICTION.--Section 318 of the Federal Power Act (16 U.S.C. 825q) is repealed.
(b) DEFINITIONS.--
(1) Section 201(g) of the Federal Power Act (16 U.S.C. 824(g)) is amended by striking ``1935'' and inserting ``2002''.
(2) Section 214 of the Federal Power Act (16 U.S.C. 824m) is amended by striking ``1935'' and inserting ``2002''.
Subtitle C--Amendments to the Public Utility Regulatory Policies Act of 1978
SEC. 241. REAL-TIME PRICING STANDARD.
(a) ADOPTION OF STANDARD.--Section 111(d) of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2621(d)) is amended by adding at the end the following:
``(11) REAL-TIME PRICING.--(A) Each electric utility shall, at the request of an electric consumer, provide electric service under a real-time rate schedule, under which the rate charged by the electric utility varies by the hour (or smaller time interval) according to changes in the electric utility's wholesale power cost. The real-time pricing service shall enable the electric consumer to manage energy use and cost through real-time metering and communications technology.
``(B) For purposes of implementing this paragraph, any reference contained in this section to the date of enactment of the Public Utility Regulatory Policies Act of 1978 shall be deemed to be a reference to the date of enactment of this paragraph.
``(C) Notwithstanding subsections (b) and (c) of section 112, each State regulatory authority shall consider and make a determination concerning whether it is appropriate to implement the standard set out in subparagraph (A) not later than one year after the date of enactment of this paragraph.''.
(b) SPECIAL RULES FOR REAL-TIME PRICING STANDARD.--Section 115 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2625) is amended by adding at the end the following:
``(i) REAL-TIME PRICING.--In a state that permits third-party marketers to sell electric energy to retail electric consumers, the electric consumer shall be entitled to receive the same real-time metering and communication service as a direct retail electric consumer of the electric utility.''.
SEC. 242. ADOPTION OF ADDITIONAL STANDARDS.
(a) ADOPTION OF STANDARDS.--Section 113(b) of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2623(b)) is amended by adding at the end the following:
``(6) DISTRIBUTED GENERATION.--Each electric utility shall provide distributed generation, combined heat and power, and district heating and cooling systems competitive access to the local distribution grid and competitive pricing of service, and shall use simplified standard contracts for the interconnection of generating facilities that have a power production capacity of 250 kilowatts or less.
``(7) DISTRIBUTION INTERCONNECTIONS.--No electric utility may refuse to interconnect a generating facility with the distribution facilities of the electric utility if the owner or operator of the generating facility complies with technical standards adopted by the State regulatory authority and agrees to pay the costs established by such State regulatory authority.
``(8) MINIMUM FUEL AND TECHNOLOGY DIVERSITY STANDARD.--Each electric utility shall develop a plan to minimize dependence on one fuel source and to ensure that the electric energy it sells to consumers is generated using a diverse range of fuels and technologies, including renewable technologies.
``(9) FOSSIL FUEL EFFICIENCY.--Each electric utility shall develop and implement a ten-year plan to increase the efficiency of its fossil fuel generation and shall monitor and report to its State regulatory authority excessive greenhouse gas emissions resulting from the inefficient operation of its fossil fuel generating plants.''.
(c) TIME FOR ADOPTING STANDARDS.--Section 113 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2623) is further amended by adding at the end the following:
``(d) SPECIAL RULE.--For purposes of implementing paragraphs (6), (7), (8), and (9) of subsection (b), any reference contained in this section to the date of enactment of the Public Utility Regulatory Policies Act of 1978 shall be deemed to be a reference to the date of enactment of this subsection.''.
SEC. 243. TECHNICAL ASSISTANCE.
Section 132(c) of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2642(c)) is amended to read as follows:
``(c) TECHNICAL ASSISTANCE FOR CERTAIN RESPONSIBILITIES.--The Secretary may provide such technical assistance as he determines appropriate to assist State regulatory authorities and electric utilities in carrying out their responsibilities under section 111(d)(11) and paragraphs (6), (7), (8), and (9) of section 113(b).''.
SEC. 244. COGENERATION AND SMALL POWER PRODUCTION PURCHASE AND SALE REQUIREMENTS.
(a) TERMINATION OF MANDATORY PURCHASE AND SALE REQUIREMENTS.--Section 210 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 824a-3) is amended by adding at the end the following:
``(m) TERMINATION OF MANDATORY PURCHASE AND SALE REQUIREMENTS.--
``(1) IN GENERAL.--After the date of enactment of this subsection, no electric utility shall be required to enter into a new contract or obligation to purchase or sell electric energy under this section.
``(2) NO EFFECT ON EXISTING RIGHTS AND REMEDIES.--Nothing in this subsection affects the rights or remedies of any party with respect to the purchase or sale of electric energy or capacity from or to a facility under this section under any contract or obligation to purchase or to sell electric energy or capacity on the date of enactment of this subsection, including--
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``(A) the right to recover costs of purchasing such electric energy or capacity; and
``(B) in States without competition for retail electric supply, the obligation of a utility to provide, at just and reasonable rates for consumption by a qualifying small power production facility or a qualifying cogeneration facility, backup, standby, and maintenance power.
``(3) RECOVERY OF COSTS.--
``(a) REGULATION .--To ensure recovery by an electric utility that purchases electric energy or capacity from a qualifying facility pursuant to any legally enforceable obligation entered into or imposed under this section before the date of enactment og this subsection, of all prudently incusred costs associated with the purchases, the Commission shall issue and enforce such regulations as may be required to ensure that the electric utility shall collect the prudently incurred costs associated with such purchases.
``(B) ENFORCEMENT.--A regulation under subparagraph (A) shall be enforceable in accordance with the provisions of law applicable to enforcement of regulations under the Federal Power Act (16 U.S.C. 791a et seq.).''.
(b) ELIMINATION OF OWNERSHIP LIMITATIONS.--
(1) Section 3(17)(C) of the Federal Power Act (16 U.S.C. 796(17)(C)) is amended to read as follows:
``(C) `qualifying small power production facility' means a small power production facility that the Commission determinesl by rule, meets such requirements (including requirements respecting minimum size, fuel use, and fuel efficiency) as the Commission may, by rule, prescribe.''.
(2) Section 3(18)(B) of the Federal Power Act (16 U.S.C. 796(18)(B)) is amended to read as follows:
``(B) `qualifying cogeneration facility' means a cogeneration facility that the Commission determines, by rule, meets such requirements (including requirements respecting minimum size, fuel use, and fuel efficiency) as the Commission may, by rule, prescribe.''.
SEC. 245. NET METERING.
Title VI of the Public Utility Regulatory Policies Act of 1978 is amended by adding at the end the following:
``SEC. 605. NET METERING FOR RENEWABLE ENERGY AND FUEL CELLS.
``(a) DEFINITIONS.--For purposes of this section:
``(1) The term 'eligible on-site generating facility' means--
``(A) a facility on the site of a residential electric consumer with a maximum generating capacity of 10 kilowatts or less that is fueled by solar energy, wind energy, or fuel cells; or
``(B) a facility on the site of a commercial electric consumer with a maximum generating capacity of 500 kilowatts or less that is fueled solely by a renewable energy resource, landfill gas, or a high efficiency system.
``(2) The term `renewable energy resource' means solar, wind, biomass, or geothermal energy.
``(3) The term `high efficiency system' means fuel cells or combined heat and power.
``(4) The term `net metering service' means service to an electric consumer under which electric energy generated by that electric consumer from an eligible on-site generating facility and delivered to the local distribution facilities may be used to offset electric energy provided by the electric utility to the electric consumer during the applicable billing period.
``(b) REQUIREMENT TO PROVIDE NET METERING SERVICE.--Each electric utility shall make available upon request net metering service to an electric consumer that the electric utility serves.
``(c) RATES AND CHARGES.--
``(1) IDENTICAL CHARGES.--An electric utility--
``(A) shall charge the owner or operator of an on-site generating facility rates and charges that are identical to those that would be charged other electric consumers of the electric utility in the same rate class; and
``(B) shall not charge the owner or operator of an on-site generating facility any additional standby, capacity, interconnection, or other rate or charge.
``(2) MEASUREMENT.--An electric utility that sells electric energy to the owner or operator of an on-site generating facility shall measure the quantity of electric energy produced by the on-site facility and the quantity of electric energy consumed by the owner or operator of an on-site generating facility during a billing period in accordance with normal metering practices.
``(3) ELECTRIC ENERGY SUPPLIED EXCEEDING ELECTRIC ENERGY GENERATED.--If the quantity of electric energy sold by the electric utility to an on-site generating facility exceeds the quantity of electric energy supplied by the on-site generating facility to the electric utility during the billing period, the electric utility may bill the owner or operator for the net quantity of electric energy sold, in accordance with normal metering practices.
``(4) ELECTRIC ENERGY GENERATED EXCEEDING ELECTRIC ENERGY SUPPLIED.--If the quantity of electric energy supplied by the on-site generating facility to the electric utility exceeds the quantity of electric energy sold by the electric utility to the on-site generating facility during the billing period--
``(A) the electric utility may bill the owner or operator of the on-site generating facility for the appropriate charges for the billing period in accordance with paragraph (2); and
``(B) the owner or operator of the on-site generating facility shall be credited for the excess kilowatt-hours generated during the billing period, with the kilowatt-hour credit appearing on the bill for the following billing period.
``(d) SAFETY AND PERFORMANCE STANDARDS.--
``(1) An eligible on-site generating facility and net metering system used by an electric consumer shall meet all applicable safety, performance, reliability, and interconnection standards established by the National Electrical Code, the Institute of Electrical and Electronics Engineers, and Underwriters Laboratories.
``(2) The Commission, after consultation with State regulatory authorities and nonregulated electric utilities and after notice and opportunity for comment, may adopt, by rule, additional control and testing requirements for on-site generating facilities and net metering systems that the Commission determines are necessary to protect public safety and system reliability.
``(e) APPLICATION.--This section applies to each electric utility during any calendar year in which the total sales of electric energy by such utility for purposes other than resale exceeded 1,000,000,000 kilowatt-hours during the preceding calendar year.''.
Subtitle D--Consumer Protections
SEC. 251. INFORMATION DISCLOSURE.
(a) OFFERS AND SOLICITATIONS.--The Federal Trade Commission shall issue rules requiring each electric utility that makes an offer to sell electric energy, or solicits electric consumers to purchase electric energy to provide the electric consumer a statement containing the following information:
(1) the nature of the service being offered, including information about interruptibility of service;
(2) the price of the electric energy, including a description of any variable charges;
(3) a description of all other charges associated with the service being offered, including access charges, exit charges, back-up service charges, stranded cost recovery charges, and customer service charges; and
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