The bill amends the Utilities Code to enhance regulations regarding affiliations with foreign entities for individuals involved in the electricity market and increases administrative penalties for violations. Specifically, it introduces a new subsection (b-2) to Section 15.023, allowing for penalties of up to $1 million for business entities that submit false or incomplete information to the independent organization certified for the ERCOT power region. Additionally, it modifies Section 39.360 by updating definitions and requirements for business entities operating as market participants, including the necessity for attestation of compliance with Chapter 117 of the Business & Commerce Code.

Further amendments include provisions that allow independent organizations to require additional information from business entities to verify compliance and to suspend or terminate registrations if there is reasonable suspicion of non-compliance. The bill also empowers the attorney general to investigate the accuracy of information provided to independent organizations and to disclose findings. These changes aim to strengthen oversight and ensure the integrity of the electricity market in Texas, with the act set to take effect on September 1, 2025.

Statutes affected:
Introduced: Utilities Code 15.023 (Utilities Code 15)