Journal of the House of Representatives of the Regular Session of the Eightieth Legislature of the State of Texas, Volume 6 Page: 6,494
6459-7408, S49-S79 p. ; 23 cm.View a full description of this legislative document.
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80th LEGISLATURE REGULAR SESSION
Explanation: The addition of those sections to the bill is necessary both to
clarify the applicability of Sections 15.023 and 15.024, Utilities Code, when a
penalty may be imposed as provided by Section 39.157, Utilities Code, as
amended by the bill, and to clarify the authority of the Public Utility Commission
of Texas to conduct hearings in administrative penalty matters.
(2) House Rule 13, Section 9(a)(2), is suspended to permit the committee to
omit amended Section 39.101(h), Utilities Code, from the bill.
Explanation: The change is necessary to retain the current law's flexibility
and certainty concerning the period for deferrals of electric utility bill payments
because of extreme weather.
(3) House Rule 13, Sections 9(a)(3) and (4), are suspended to permit the
committee to add the following Subsection (i) to added Section 39.1015, Utilities
Code, to read:
(i) This section does not apply to metered electric service sold to residential
customers on a prepaid basis.
Explanation: The change is necessary to prevent the application of the
prohibition on disconnecting certain customers' electric service, intended to apply
to customers with whom arrangements are made for periodic payments for
service, to differently situated prepaid electric service customers.
(4) House Rule 13, Section 9(a)(4), is suspended to permit the committee to
add the following sections to the bill, to amend Sections 39.262(c), 39.301,
39.302(4), 39.303(a), and 39.303(b), Utilities Code, to read:
SECTION 15. Section 39.262(c), Utilities Code, is amended to read as
follows:
(c) After January 10, 2004, at a schedule and under procedures to be
determined by the commission, each transmission and distribution utility, its
affiliated retail electric provider, and its affiliated power generation company
shall jointly file to finalize stranded costs under Subsections (h) and (i) and
reconcile those costs with the estimated stranded costs used to develop the
competition transition charge in the proceeding held under Section 39.201. Any
resulting difference shall be applied to the nonbypassable delivery rates of the
transmission and distribution utility, except that at the utility's option, any or all
of the amounts recovered under this section [remaining -tandcd c-t3] may 1e
securitized under Subchapter G.
SECTION 16. Section 39.301, Utilities Code, is amended to read as follows:
Sec. 39.301. PURPOSE. The purpose of this subchapter is to enable utilities
to use securitization financing to recover regulatory assets, all other amounts
determined under Section 39.262, and any amounts being recovered under a
competition transition charge determined as a result of the proceedings under
Sections 39.201 and 39.262. This [and tranded coat, b"caue thi3] type of debt
will lower the carrying costs of the assets relative to the costs that would be
incurred using conventional utility financing methods. The proceeds of the
transition bonds shall be used solely for the purposes of reducing the amount of
recoverable regulatory assets and other amounts [stranded-eests], as determined
by the commission in accordance with this chapter, through the refinancing or
retirement of utility debt or equity. The commission shall ensure that6494
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Texas. Legislature. House of Representatives. Journal of the House of Representatives of the Regular Session of the Eightieth Legislature of the State of Texas, Volume 6, legislative document, 2007; (https://texashistory.unt.edu/ark:/67531/metapth97476/m1/40/: accessed April 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.