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(1) By inserting ‘‘, electric utility, transmitting
utility, or other entity’’ after ‘‘person’’ each time it
appears.
(2) By striking the period at the end of the
first sentence and inserting the following: ‘‘or in ob-
taining information about the sale of electric energy
at wholesale in interstate commerce and the trans-
mission of electric energy in interstate commerce.’’.
(d) CRIMINAL PENALTIES.—Section 316 of the Fed-
eral Power Act (16 U.S.C. 825o) is amended—
(1) in subsection (a), by striking ‘‘$5,000’’ and
inserting ‘‘$1,000,000’’, and by striking ‘‘two years’’
and inserting ‘‘5 years’’;
(2) in subsection (b), by striking ‘‘$500’’ and
inserting ‘‘$25,000’’; and
(3) by striking subsection (c).
(e) CIVIL PENALTIES.—Section 316A of the Federal
Power Act (16 U.S.C. 825o–1) is amended as follows:
(1) In subsections (a) and (b), by striking ‘‘sec-
tion 211, 212, 213, or 214’’ each place it appears
and inserting ‘‘Part II’’.
(2) In subsection (b), by striking ‘‘$10,000’’
and inserting ‘‘$1,000,000’’.
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SEC. 1284. REFUND EFFECTIVE DATE.
Section 206(b) of the Federal Power Act (16 U.S.C.
824e(b)) is amended as follows:
(1) By striking ‘‘the date 60 days after the fil-
ing of such complaint nor later than 5 months after
the expiration of such 60-day period’’ in the second
sentence and inserting ‘‘the date of the filing of such
complaint nor later than 5 months after the filing of
such complaint’’.
(2) By striking ‘‘60 days after’’ in the third
sentence and inserting ‘‘of’’.
(3) By striking ‘‘expiration of such 60-day pe-
riod’’ in the third sentence and inserting ‘‘publica-
tion date’’.
(4) By striking the fifth sentence and inserting
the following: ‘‘If no final decision is rendered by the
conclusion of the 180-day period commencing upon
initiation of a proceeding pursuant to this section,
the Commission shall state the reasons why it has
failed to do so and shall state its best estimate as
to when it reasonably expects to make such deci-
sion.’’.
SEC. 1285. REFUND AUTHORITY.
Section 206 of the Federal Power Act (16 U.S.C.
824e) is amended by adding the following new subsection
at the end thereof:
616
‘‘(e)(1) Except as provided in paragraph (2), if an
entity described in section 201(f) voluntarily makes a
short-term sale of electric energy and the sale violates
Commission rules in effect at the time of the sale, such
entity shall be subject to the Commission’s refund author-
ity under this section with respect to such violation.
‘‘(2) This section shall not apply to—
‘‘(A) any entity that sells less than 8,000,000
megawatt hours of electricity per year; or
‘‘(B) any electric cooperative.
‘‘(3) For purposes of this subsection, the term ‘short-
term sale’ means an agreement for the sale of electric en-
ergy at wholesale in interstate commerce that is for a pe-
riod of 31 days or less (excluding monthly contracts sub-
ject to automatic renewal).
‘‘(4) The Commission shall have refund authority
under subsection (e)(1) with respect to a voluntary short-
term sale of electric energy by the Bonneville Power Ad-
ministration (in this section ‘Bonneville’) only if the sale
is at an unjust and unreasonable rate and, in that event,
may order a refund only for short-term sales made by
Bonneville at rates that are higher than the highest just
and reasonable rate charged by any other entity for a
short-term sale of electric energy in the same geographic
617
market for the same, or most nearly comparable, period
as the sale by Bonneville.
‘‘(5) With respect to any Federal power marketing
agency or the Tennessee Valley Authority, the Commission
shall not assert or exercise any regulatory authority or
powers under subsection (e)(1) other than the ordering of
refunds to achieve a just and reasonable rate.’’.
SEC. 1286. SANCTITY OF CONTRACT.
(a) IN GENERAL.—The Federal Energy Regulatory
Commission (in this section, ‘‘the Commission’’) shall have
no authority to abrogate or modify any provision of an
executed contract or executed contract amendment de-
scribed in subsection (b) that has been entered into or
taken effect, except upon a finding that failure to take
such action would be contrary to the public interest.
(b) LIMITATION.—Except as provided in subsection
(c), this section shall apply only to a contract or contract
amendment—
(1) executed on or after the date of enactment
of this Act; and
(2) entered into—
(A) for the purchase or sale of electric en-
ergy under section 205 of the Federal Power
Act (16 U.S.C. 824d) where the seller has been