Bill Text: TX SB1211 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to regulation of mergers and consolidations of power generation companies.
Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: (Passed) 2019-06-04 - Effective on 9/1/19 [SB1211 Detail]
Download: Texas-2019-SB1211-Enrolled.html
S.B. No. 1211 |
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relating to regulation of mergers and consolidations of power | ||
generation companies. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 39.158, Utilities Code, is amended by | ||
amending Subsection (a) and adding Subsections (a-1), (a-2), and | ||
(a-3) to read as follows: | ||
(a) A power generation company [ |
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transaction to merge, consolidate, or otherwise become affiliated | ||
with another power generation company [ |
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same power region shall obtain the approval of the commission | ||
before closing if the merged, consolidated, or affiliated entity | ||
would own and control more than 10 [ |
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located in, or capable of delivering electricity to, [ |
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(a-1) An [ |
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proposed closing of the transaction. | ||
(a-2) The commission shall approve a [ |
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described by Subsection (a) unless the commission finds that the | ||
transaction results in a violation of Section 39.154. If the | ||
commission finds that the transaction as proposed would violate | ||
Section 39.154, the commission may condition approval of the | ||
transaction on adoption of reasonable modifications to the | ||
transaction as prescribed by the commission to mitigate potential | ||
market power abuses. | ||
(a-3) If the commission does not issue an order consistent | ||
with Subsection (a-2) before the 121st day after the date the | ||
commission receives a request for approval under Subsection (a), | ||
the request is considered approved by the commission. | ||
SECTION 2. Section 39.158(a), Utilities Code, as amended by | ||
this Act, and Sections 39.158(a-1), (a-2), and (a-3), Utilities | ||
Code, as added by this Act, apply only to a request for an approval | ||
of a transaction received by the Public Utility Commission of Texas | ||
on or after the effective date of this Act. A request for an | ||
approval received by that commission before the effective date of | ||
this Act is governed by the law in effect immediately before the | ||
effective date of this Act, and that law is continued in effect for | ||
that purpose. | ||
SECTION 3. This Act takes effect September 1, 2019. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 1211 passed the Senate on | ||
April 11, 2019, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 1211 passed the House on | ||
May 17, 2019, by the following vote: Yeas 141, Nays 1, two | ||
present not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |