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

March 26, 2003

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

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.'.

END