To prohibit energy market manipulation.

January 24, 2005

Ms. CANTWELL (for herself, Mr. BINGAMAN, Mrs. FEINSTEIN, Mrs. MURRAY, and Mr. FEINGOLD) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

To prohibit energy market manipulation.

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 Needs Rules and Oversight Now (ENRON) Act'.

SEC. 2. PROHIBITION OF ENERGY MARKET MANIPULATION.

(a) Prohibition- Part II of the Federal Power Act (16 U.S.C. 824 et seq.) is amended by adding at the end the following:

`SEC. 215. PROHIBITION OF MARKET MANIPULATION.

`It shall be unlawful for any person, directly or indirectly, to use or employ, in connection with the purchase or sale of electric energy or the purchase or sale of transmission services subject to the jurisdiction of the Commission, any manipulative or deceptive device or contrivance in contravention of such regulations as the Commission may promulgate as appropriate in the public interest or for the protection of electric ratepayers.'.

(b) Rates Resulting From Market Manipulation- Section 205(a) of the Federal Power Act (16 U.S.C. 824d(a)) is amended by inserting after `not just and reasonable' the following: `or that result from a manipulative or deceptive device or contrivance'.

END