H.R.3878 - Power Marketing Administration Privatization and Reform Act of 1996104th Congress (1995-1996)
|Sponsor:||Rep. Franks, Bob [R-NJ-7] (Introduced 07/23/1996)|
|Committees:||House - Resources; Transportation and Infrastructure; Commerce|
|Latest Action:||House - 08/09/1996 Referred to the Subcommittee on Energy and Power, for a period to be subsequently determined by the Chairman. (All Actions)|
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Summary: H.R.3878 — 104th Congress (1995-1996)All Information (Except Text)
Introduced in House (07/23/1996)
TABLE OF CONTENTS:
Title I: Full Cost Recovery and Market Rates
Title II: Privatization of PMA and TVA Assets
Power Marketing Administration Privatization and Reform Act of 1996 - Title I: Full Cost Recovery and Market Rates - Directs the Secretary of Energy to develop and implement interim and final rates for power sales by Federal Power Marketing Administrations (PMAs) designed to recover all power related operations and maintenance expenses, including project investment costs pertaining to power production.
(Sec. 102) Cites conditions under which the Secretary may price power sold by PMAs at market rates if the transition to full cost recovery rates would result in rates that exceed market rates.
Instructs the Secretary to establish: (1) procedures to assure that all power sold by PMAs is sold at prices set by demand and supply within the relevant bulk power supply market; and (2) bid and auction procedures to implement market-based pricing for power marketing.
Grants public bodies and cooperatives rights of first refusal with respect to future Federal power allocations or reallocations.
Instructs the Secretary to require each PMA to implement: (1) program management in order to assign personnel and incur expenses exclusively for authorized power marketing, reclamation, and flood control activities; and (2) annual public disclosures of PMA activities, including the full costs of power projects and power marketing programs.
Limits PMA power marketing contracts five year terms.
Subjects a PMA (except the Bonneville Power Administration) to the facility construction restrictions imposed by the Flood Control Act of 1944.
(Sec. 103) Grants the Federal Energy Regulatory Commission (FERC): (1) ratemaking jurisdiction over transmission service provided by the PMAs and the Tennessee Valley Authority (TVA); and (2) review, rejection, and revision authority over rate schedules for PMA power sales, and over rate schedule determinations made by the Secretary until a full transition is made to market-based rates for power sold by the PMAs.
(Sec. 105) Makes conforming amendments to the Department of Energy Organization Act and other specified Federal law.
Title II: Privatization of PMA and TVA Assets - Directs the Secretary of Energy to sell the hydroelectric power generation facilities used to generate the electric power marketed by the PMAs, together with all PMA contracts, interests and obligations, and all federally-owned electric power transmission facilities operated by a PMA. Directs TVA to sell its hydroelectric power generation facilities. Prescribes guidelines for such sales. Terminates the PMAs and TVA following the sale of all facilities and assets.
(Sec. 202) Confers jurisdiction upon FERC for: (1) all rates and charges established for the wholesale sale of electric power from such sold facilities; and (2) licensing the privatized facilities and operations.