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electric utility except with the informed consent of the
electric consumer or if approved by the appropriate State
regulatory authority.
(c) CRAMMING.—The Federal Trade Commission
may issue rules prohibiting the sale of goods and services
to an electric consumer unless expressly authorized by law
or the electric consumer.
(d) RULEMAKING.—The Federal Trade Commission
shall proceed in accordance with section 553 of title 5,
United States Code, when prescribing a rule under this
section.
(e) STATE AUTHORITY.—If the Federal Trade Com-
mission determines that a State’s regulations provide
equivalent or greater protection than the provisions of this
section, such State regulations shall apply in that State
in lieu of the regulations issued by the Commission under
this section.
(f) DEFINITIONS.—For purposes of this section:
(1) STATE
REGULATORY
AUTHORITY.—The
term ‘‘State regulatory authority’’ has the meaning
given that term in section 3(21) of the Federal
Power Act (16 U.S.C. 796(21)).
(2) ELECTRIC CONSUMER AND ELECTRIC UTIL-
ITY.—The terms ‘‘electric consumer’’ and ‘‘electric
utility’’ have the meanings given those terms in sec-
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tion 3 of the Public Utility Regulatory Policies Act
of 1978 (16 U.S.C. 2602).
Subtitle H—Merger Reform
SEC. 1291. MERGER REVIEW REFORM AND ACCOUNT-
ABILITY.
(a) MERGER REVIEW REFORM.—Within 180 days
after the date of enactment of this Act, the Secretary of
Energy, in consultation with the Federal Energy Regu-
latory Commission and the Attorney General of the United
States, shall prepare, and transmit to Congress each of
the following:
(1) A study of the extent to which the authori-
ties vested in the Federal Energy Regulatory Com-
mission under section 203 of the Federal Power Act
are duplicative of authorities vested in—
(A) other agencies of Federal and State
Government; and
(B) the Federal Energy Regulatory Com-
mission, including under sections 205 and 206
of the Federal Power Act.
(2) Recommendations on reforms to the Fed-
eral Power Act that would eliminate any unneces-
sary duplication in the exercise of regulatory author-
ity or unnecessary delays in the approval (or dis-
621
approval) of applications for the sale, lease, or other
disposition of public utility facilities.
(b) MERGER REVIEW ACCOUNTABILITY.—Not later
than 1 year after the date of enactment of this Act and
annually thereafter, with respect to all orders issued with-
in the preceding year that impose a condition on a sale,
lease, or other disposition of public utility facilities under
section 203(b) of the Federal Power Act, the Federal En-
ergy Regulatory Commission shall transmit a report to
Congress explaining each of the following:
(1) The condition imposed.
(2) Whether the Commission could have im-
posed such condition by exercising its authority
under any provision of the Federal Power Act other
than under section 203(b).
(3) If the Commission could not have imposed
such condition other than under section 203(b), why
the Commission determined that such condition was
consistent with the public interest.
SEC. 1292. ELECTRIC UTILITY MERGERS.
(a) AMENDMENT.—Section 203(a) of the Federal
Power Act (16 U.S.C. 824b(a)) is amended to read as fol-
lows:
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‘‘(a)(1) No public utility shall, without first having
secured an order of the Commission authorizing it to do
so—
‘‘(A) sell, lease, or otherwise dispose of the
whole of its facilities subject to the jurisdiction of
the Commission, or any part thereof of a value in
excess of $10,000,000;
‘‘(B) merge or consolidate, directly or indi-
rectly, such facilities or any part thereof with those
of any other person, by any means whatsoever; or
‘‘(C) purchase, acquire, or take any security
with a value in excess of $10,000,000 of any other
public utility.
‘‘(2) No holding company in a holding company sys-
tem that includes a public utility shall purchase, acquire,
or take any security with a value in excess of $10,000,000
of, or, by any means whatsoever, directly or indirectly,
merge or consolidate with, a public utility or a holding
company in a holding company system that includes a
public utility with a value in excess of $10,000,000 with-
out first having secured an order of the Commission au-
thorizing it to do so.
‘‘(3) Upon receipt of an application for such approval
the Commission shall give reasonable notice in writing to
the Governor and State commission of each of the States