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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.''.
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.