S.864 - Access to Competitive Power Act of 2007110th Congress (2007-2008)
Summary: S.864 — 110th Congress (2007-2008)
Introduced in Senate (03/13/2007)
Access to Competitive Power Act of 2007 - Amends the Federal Power Act to authorize the Federal Energy Regulatory Commission (FERC) to order transmission service by the administrator or board of directors of the Bonneville, Southeastern, Western Area, and Southwestern Power Administrations, and the Tennessee Valley Authority (TVA).
Grants FERC jurisdiction over the rates, terms, and conditions of TVA's provision of transmission service in interstate commerce.
Requires the TVA Board of Directors to file with FERC an open access transmission tariff containing just, reasonable, and not unduly preferential or discriminatory rates, terms, and conditions.
Prohibits certain territory-restricted electric utilities from recovering stranded costs associated with the provision of transmission services to a distributor.
Authorizes distributors which, by December 31, 2006, gave notice of termination of a power supply contract with a territory-restricted electric utility (such as TVA) to negotiate partial requirements services with such utility, as well as receive sufficient transmission services. Allows such distributors also to elect to rescind a termination notice without imposition of a reintegration or similar fee.
Authorizes distributors that did not give a termination notice by such date to receive partial requirements services from any such utility, subject to specified requirements.
Allows a distributor receiving any electric service or power from at least two generators to elect to retain it regardless of whether an applicable contract, or portion of it, has been terminated.
Directs the Comptroller General to study and report to Congress on: (1) the costs, benefits, and other effects of privatizing the TVA; and (2) the TVA's financial structure, as well as the amount of debt it holds.