Bill Text: TX SB2129 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the establishment of an independent market monitor for the natural gas market by the Railroad Commission of Texas.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-03-21 - Referred to Natural Resources & Economic Development [SB2129 Detail]

Download: Texas-2023-SB2129-Introduced.html
  88R10664 JXC-F
 
  By: Miles S.B. No. 2129
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the establishment of an independent market monitor for
  the natural gas market by the Railroad Commission of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter C, Chapter 81, Natural Resources
  Code, is amended by adding Section 81.0615 to read as follows:
         Sec. 81.0615.  NATURAL GAS INDEPENDENT MARKET MONITOR. (a)
  The commission shall contract with an entity to act as an
  independent market monitor to detect and prevent market
  manipulation strategies in and recommend measures to enhance the
  efficiency of the natural gas market.
         (b)  The commission shall provide to the personnel of the
  market monitor support and cooperation the commission determines is
  necessary for the market monitor to perform the market monitor's
  functions.
         (c)  A person who produces, processes, or transports natural
  gas shall cooperate with the personnel of the market monitor in a
  manner the commission determines is necessary for the market
  monitor to perform the market monitor's functions.
         (d)  The commission is responsible for ensuring that the
  market monitor has the resources, expertise, and authority
  necessary to monitor the natural gas market in this state
  effectively and shall adopt rules and perform oversight of the
  market monitor as necessary. The market monitor shall operate
  under the supervision and oversight of the commission.
         (e)  The commission retains all enforcement authority
  conferred under this title and Title 3, Utilities Code, and this
  section may not be construed to confer enforcement authority on the
  market monitor or to authorize the commission to delegate the
  commission's enforcement authority to the market monitor. The
  commission by rule shall define:
               (1)  the market monitor's monitoring responsibilities,
  including reporting obligations and limitations;
               (2)  the standards for funding the market monitor,
  including staffing requirements;
               (3)  qualifications for personnel of the market
  monitor; and
               (4)  ethical standards for the market monitor and the
  personnel of the market monitor.
         (f)  In adopting rules governing the standards for funding
  the market monitor, the commission shall ensure that rules
  governing ethical standards include provisions designed to ensure
  that the personnel of the market monitor are professionally and
  financially independent from participants in the natural gas
  market. The commission shall develop and implement policies that
  clearly separate the policy-making responsibilities of the
  commission and the monitoring, analysis, and reporting
  responsibilities of the market monitor.  The commission shall
  establish an advisory committee that includes producers,
  processors, and transporters of natural gas and consult with the
  advisory committee on how money is or should be spent for monitoring
  functions.
         (g)  The market monitor immediately shall report directly to
  the commission any potential market manipulations and any
  discovered or potential violations of commission rules.
         (h)  The personnel of the market monitor may communicate with
  commission staff on any matter without restriction.
         (i)  The market monitor annually shall submit to the
  commission a report that identifies market flaws and recommends
  methods to correct the flaws. The commission shall review the
  report and evaluate whether changes to rules of the commission
  should be made.
         SECTION 2.  This Act takes effect September 1, 2023.
feedback