To amend the Federal Power Act to provide the Federal Energy Regulatory Commission with authority to order certain refunds of electric rates, and for other purposes.

May 22, 2001

Mr. OSE (for himself and Mr. HORN) introduced the following bill; which was referred to the Committee on Energy and Commerce

To amend the Federal Power Act to provide the Federal Energy Regulatory Commission with authority to order certain refunds of electric rates, 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 `Electric Refund Fairness Act of 2001'.

SEC. 2. WHOLESALE RATE REFUND AUTHORITY.

Section 206(b) of the Federal Power Act (16 U.S.C. 824e(b)) is amended as follows:

(1) In the second sentence, strike `shall not be earlier than the date 60 days after the filing of such complaint nor later than 5 months after the expiration of such 60-day period' and insert `shall be the date of the filing of such complaint'.

(2) In the third sentence, strike `shall not be earlier than the date 60 days after the publication by the Commission of notice of its intention to initiate such proceeding nor later than 5 months after the expiration of such 60-day period' and insert `shall be the date of publication by the Commission of notice of its intention to initiate such proceeding'.

(3) Beginning in the seventh sentence, strike `through a date fifteen months after such refund effective date' and all that follows down through `prior to the conclusion of the proceeding' and insert `through the conclusion of the proceeding'.

(4) In the last sentence, after `interest' insert `and any penalties the Commission deems appropriate'.

END