S.B. No. 2368 is a legislative bill aimed at enhancing the regulation of critical infrastructure and utilities in Texas, particularly concerning affiliations with foreign entities in the electricity market. The bill empowers the Public Utility Commission of Texas to impose administrative penalties of up to $1 million on business entities that violate regulations by granting access to their critical electric grid equipment or infrastructure. Additionally, it establishes stricter requirements for independent organizations certified under the Utilities Code, mandating them to ensure compliance with new provisions regarding the submission of accurate information and the background checks of prospective employees in critical positions.

The bill also introduces confidentiality measures for enforcement information related to commission proceedings, ensuring that such information is not disclosed under public records laws, except under specific circumstances. Furthermore, it clarifies the definition of "person" for the purposes of imposing penalties to include electric utilities, municipally owned utilities, and electric cooperatives. The act is set to take effect on September 1, 2025, and includes provisions that allow for the immediate suspension or termination of a business entity's registration as a market participant if there is reasonable suspicion of non-compliance with the new regulations.

Statutes affected:
Introduced: Utilities Code 15.023 (Utilities Code 15)
Senate Committee Report: Utilities Code 15.023 (Utilities Code 15)
Engrossed: Utilities Code 15.023 (Utilities Code 15)
House Committee Report: Utilities Code 15.023 (Utilities Code 15)
Enrolled: Utilities Code 15.023 (Utilities Code 15)