Sec. 13. RTO and ISO Governance
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Each vote cast by any party during a stakeholder process of a Regional Transmission Organization or Independent System Operator shall be made public. Not later than 180 days after the date of enactment of this Act, the Commission shall promulgate regulations requiring Regional Transmission Organizations and Independent System Operators to develop a process to provide intervenor compensation or other funding to assist with public interest participation in the stakeholder processes of the Regional Transmission Organization or Independent System Operator.
Not later than 18 months after the date of enactment of this Act, the Commission shall promulgate regulations requiring each Regional Transmission Organization and Independent System Operator— to grant full voting and participation rights for consumer organizations within stakeholder processes; and to consider membership fee waivers for stakeholder processes. Each stakeholder meeting of a Regional Transmission Organization or Independent System Operator shall be recorded and transcribed, and the recording and transcription shall be made freely available to the public.
An individual described in subparagraph
(B)shall publicly disclose, at any stakeholder meeting of a Regional Transmission Organization or Independent System Operator that the individual attends or in which the individual otherwise participates— that the individual is attending or participating on behalf of a Regional Transmission Organization or Independent System Operator; and the identity of that Regional Transmission Organization or Independent System Operator. An individual referred to in subparagraph
(A)is any representative of a law firm or consulting firm, or any other agent, that is compensated to represent or advocate for the interests of a Regional Transmission Organization or Independent System Operator. Section 552 of title 5, United States Code (commonly known as the Freedom of Information Act ), including any exceptions under that section, shall apply to the activities, records, and proceedings of each Regional Transmission Organization and Independent System Operator, including with respect to the operations of the Regional Transmission Organization or Independent System Operator. Not later than 180 days after the date of enactment of this Act, the Commission shall promulgate regulations— to prohibit entities with interests in matters before a Regional Transmission Organization or Independent System Operator from serving as financial sponsors of special events or activities at Regional Transmission Organization or Independent System Operator meetings; or if the Commission determines appropriate, to establish disclosure requirements for entities with interests in matters before a Regional Transmission Organization or Independent System Operator that serve as financial sponsors of special events or activities at Regional Transmission Organization or Independent System Operator meetings. Not later than 180 days after the date of enactment of this Act, the Commission shall promulgate regulations requiring, subject to exceptions defined by the Commission, that the board of directors of a Regional Transmission Organization or Independent System Operator be independent from, and not affiliated with, the members of the Regional Transmission Organization or Independent System Operator. Not later than 18 months after the date of enactment of this Act, the Commission shall promulgate regulations— requiring the board of directors of each Regional Transmission Organization and Independent System Operator to have members who have expertise and experience in representing consumers, including at least 1 member with expertise in the interests of retail residential consumers; establishing the number of members described in subparagraph
(A)that shall be required on a board of directors described in that subparagraph in order to avoid marginalization of the perspectives and contributions of those members; and requiring each Regional Transmission Organization and Independent System Operator to designate at least 1 member of the board of directors of that Regional Transmission Organization or Independent System Operator who shall represent and be directly accountable, in such manner as the Commission determines to be appropriate, to the public interest within the geographic footprint of the Regional Transmission Organization or Independent System Operator. Not later than 180 days after the date of enactment of this Act, the Commission shall promulgate regulations requiring Regional Transmission Organizations and Independent System Operators to establish rules prohibiting the Regional Transmission Organization or Independent System Operator from employing, during the periods described in subparagraph (B), an individual who is or was an executive of a utility (commonly known as a revolving door prohibition ). The periods referred to in subparagraph
(A)are— any period during which the individual is an executive of a utility; and the 1-year period beginning on the date on which the employment of the individual as an executive of a utility ends. Not later than 180 days after the date of enactment of this Act, the Commission shall establish guidelines for executive compensation at Regional Transmission Organizations and Independent System Operators in order to limit excessive compensation of those executives. The Commission shall enforce the requirements of this section using the authority of the Commission under sections 205 and 206 of the Federal Power Act ( 16 U.S.C. 824d , 824e).
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Sec. 13
RTO and ISO Governance
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