Bill Number: S. 552
Short Title: Transition to Competition in the Electric Industry Act
Introduced: March 15, 2001
Sponsor: Senator Bob Graham (D-FL)

Purpose: To provide that no electric utility shall be required to enter into a new contract or obligation to purchase or to sell electricity or capacity under Section 210 of the Public Utility Regulatory Policies Act of 1978.

Summary: States that no electric utility shall be required, under the Public Utility Regulatory Policies Act of 1978 (PURPA), to enter into a new contract or obligation to purchase or sell electricity or capacity from or to qualifying cogeneration and small power production facilities. Requires the Federal Energy Regulatory Commission to promulgate and enforce regulations designed to ensure that no electric utility shall be required to absorb the costs associated with purchases of electric power or capacity from a qualifying facility pursuant to PURPA obligations before enactment of this Act.