Washington Energy was exempt due to the intrastate character of its business. PacifiCorp is exempt because it organized all non-utility subsidiary companies under the utility operation. In order to answer this question, a brief review of Congress' efforts to repeal the Act is necessary. In addition, it provides increased access to affiliate's books and records so that states can effectively regulate within their respective jurisdictions. Both the SEC and FERC have testified in favor of the measure.
Consumer groups take the opposite position.
My sense is that S. 206 has a legitimate chance of passage this session. My review of S. 206 is limited, but it would clearly transfer the evaluation of affiliated transactions within a utility holding company exclusively to FERC and state commissions. FERC would be responsible for affiliate transactions affecting transactions in interstate commerce. Therefore, FERC would establish the costs to be included in generation, and its review of generation within a holding company structure would effectively pre-empt state oversight of generation costs. Furthermore, if FERC is successful in its efforts to form RTOs, states would no longer have jurisdiction over the rate for most transmission service.