To amend the Public Utility Regulatory Policies Act of 1978 to provide for an annual electric production cost report.

Summary: Transparent Review of the Affordability and Cost of Electricity (TRACE) Renewable Energy Act of 2010 - Amends the Public Utility Regulatory Policies Act of 1978 to direct the Secretary of Energy, acting through the Administrator of the Energy Information Administration, to prepare and publish an annual report setting forth the costs of electricity production per kilowatt hour, by sector and energy source, for each type of electric energy generation.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Transparent Review of the 
Affordability and Cost of Electricity (TRACE) Renewable Energy Act of 
2010''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) Federal energy-specific subsidies and support to all 
        forms of energy were estimated to be $16.6 billion in 2007, 
        indicating that total Federal energy subsidies have more than 
        doubled over the previous ten years, according to the Federal 
        Financial Interventions and Subsidies in Energy Markets 2007 
        report by the Energy Information Administration.
            (2) Research, development, and installation of renewable 
        and other low-emission technologies for electric power 
        generation have been a high priority for the 110th and 111th 
        Congresses.
            (3) There is a growing need for accurate reporting on the 
        costs associated with each form of alternative energy 
        generation technology because of the significant Federal action 
        and investment in such technology.
            (4) The costs associated with alternative energy generation 
        technology should be analyzed and made available to assess the 
        ability of each new technology to compete in the marketplace, 
        without Federal subsidy or support, and to optimize the 
        deployment of such technology.
            (5) The Energy Information Administration has previously 
        created forms and guidelines to collect the necessary 
        information for such reporting and has collected information 
        for several years; however, the program ended due to funding 
        constraints and the lack of an authorization from Congress.

SEC. 3. ELECTRIC PRODUCTION COST REPORT.

    Title II of the Public Utility Regulatory Policies Act of 1978 is 
amended by adding after section 214 (16 U.S.C. 824 note) the following:

``SEC. 215. ELECTRIC PRODUCTION COST REPORT.

    ``(a) Electricity Report.--The Secretary, acting through the 
Administrator of the Energy Information Administration (in this section 
referred to as the `Administrator'), shall prepare and publish an 
annual report, at the times specified in subsection (c), setting forth 
the costs of electricity production per kilowatt hour, by sector and 
energy source, for each type of electric energy generation. The report 
shall include each of the following for the period covered by the 
report:
            ``(1) The quantity of carbon dioxide emitted per kilowatt 
        hour.
            ``(2) The cost of electricity generation in cents per 
        kilowatt hour, or dollars per megawatt hour, for each type of 
        electric energy generation in the United States.
            ``(3) The factors used to levelize costs, including 
        amortized capital costs, current and projected fuel costs, 
        regular operation and maintenance, projected equipment, and 
        hardware lifetimes.
            ``(4) The costs for constructing new electric transmission 
        lines dedicated to, or intended specifically to benefit, 
        electric generation facilities in each sector and for each 
        energy source, to the extent practicable.
    ``(b) Collection and Use of Data.--
            ``(1) Data collection.--The Administrator shall collect 
        data and use all currently available data necessary to complete 
        the report under subsection (a). Such data may be collected 
        from any electric utility, including public utilities, 
        independent power producers, cogenerating and qualified 
        facilities, and all State, local, and federally owned power 
        producers.
            ``(2) Cooperation of other agencies.--The heads of other 
        Federal departments, agencies, and instrumentalities of the 
        United States shall assist with the collection of data as 
        necessary to complete the report under subsection (a), 
        including the Chairman of the Federal Energy Regulatory 
        Commission, the Administrator of the Rural Utilities Service, 
        the Director of the Minerals Management Service, and the 
        Administrator of the Environmental Protection Agency.
    ``(c) Issuance of Reports.--
            ``(1) Reports for data previously collected.--As soon as 
        practicable, the Administrator shall prepare and publish 
        reports containing the information specified in subsection (a) 
        for each year for which the data was collected before the date 
        of the enactment of this section.
            ``(2) Annual reports.--
                    ``(A) First report.--For the year 2012, the 
                Administrator shall collect all necessary data for the 
                completion of the report under subsection (a) by 
                January 31, 2013, and shall issue the report based on 
                that data by June 30, 2013.
                    ``(B) Subsequent annual reports.--For each year 
                after 2012, the Administrator shall collect all 
                necessary data for the completion of the report under 
                subsection (a) by January 31 of the year following the 
                year for which the data was collected, and shall issue 
                the report based on that data not later than April 30 
                of the year following the year for which the data was 
                collected.
    ``(d) Review of Electricity Report.--Following the completion of 
each report under subsection (a), the Administrator may review the 
findings with organizations that have expertise in the energy industry 
and demonstrated experience generating similar industry reports, for 
the purpose of improving the utility, accuracy, and timeliness of 
future reports.''.