16 U.S.C. § 824w — Joint boards on economic dispatch

Page 1437 TITLE 16—CONSERVATION § 825 has entered into a contract for the sale of elec- tric energy at wholesale or transmission service subject to the jurisdiction of the Commission has engaged in fraudulent market manipulation activities materially affecting the contract in violation of section 824v of this title. (f) ERCOT utilities This section shall not apply to a transaction for the purchase or sale of wholesale electric en- ergy or transmission services within the area described in section 824k(k)(2)(A) of this title. (June 10, 1920, ch. 285, pt. II, § 220, as added Pub. L. 109–58, title XII, § 1281, Aug. 8, 2005, 119 Stat. 978.) Editorial Notes REFERENCES IN TEXT The Commodity Exchange Act, referred to in subsec. (c)(2), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables. § 824u. Prohibition on filing false information No entity (including an entity described in section 824(f) of this title) shall willfully and knowingly report any information relating to the price of electricity sold at wholesale or the availability of transmission capacity, which in- formation the person or any other entity knew to be false at the time of the reporting, to a Fed- eral agency with intent to fraudulently affect the data being compiled by the Federal agency. (June 10, 1920, ch. 285, pt. II, § 221, as added Pub. L. 109–58, title XII, § 1282, Aug. 8, 2005, 119 Stat. 979.) § 824v. Prohibition of energy market manipula- tion (a) In general It shall be unlawful for any entity (including an entity described in section 824(f) of this title), directly or indirectly, to use or employ, in con- nection with the purchase or sale of electric en- ergy or the purchase or sale of transmission services subject to the jurisdiction of the Com- mission, any manipulative or deceptive device or contrivance (as those terms are used in sec- tion 78j(b) of title 15), in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the pub- lic interest or for the protection of electric rate- payers. (b) No private right of action Nothing in this section shall be construed to create a private right of action. (June 10, 1920, ch. 285, pt. II, § 222, as added Pub. L. 109–58, title XII, § 1283, Aug. 8, 2005, 119 Stat. 979.) § 824w. Joint boards on economic dispatch (a) In general The Commission shall convene joint boards on a regional basis pursuant to section 824h of this title to study the issue of security constrained economic dispatch for the various market re- gions. The Commission shall designate the ap- propriate regions to be covered by each such joint board for purposes of this section. (b) Membership The Commission shall request each State to nominate a representative for the appropriate regional joint board, and shall designate a mem- ber of the Commission to chair and participate as a member of each such board. (c) Powers The sole authority of each joint board con- vened under this section shall be to consider issues relevant to what constitutes ‘‘security constrained economic dispatch’’ and how such a mode of operating an electric energy system af- fects or enhances the reliability and afford- ability of service to customers in the region con- cerned and to make recommendations to the Commission regarding such issues. (d) Report to the Congress Within 1 year after August 8, 2005, the Com- mission shall issue a report and submit such re- port to the Congress regarding the recommenda- tions of the joint boards under this section and the Commission may consolidate the rec- ommendations of more than one such regional joint board, including any consensus rec- ommendations for statutory or regulatory re- form. (June 10, 1920, ch. 285, pt. II, § 223, as added Pub. L. 109–58, title XII, § 1298, Aug. 8, 2005, 119 Stat. 986.) SUBCHAPTER III—LICENSEES AND PUBLIC UTILITIES; PROCEDURAL AND ADMINIS- TRATIVE PROVISIONS § 825. Accounts and records (a) Duty to keep Every licensee and public utility shall make, keep, and preserve for such periods, such ac- counts, records of cost-accounting procedures, correspondence, memoranda, papers, books, and other records as the Commission may by rules and regulations prescribe as necessary or appro- priate for purposes of the administration of this chapter, including accounts, records, and memo- randa of the generation, transmission, distribu- tion, delivery, or sale of electric energy, the fur- nishing of services or facilities in connection therewith, and receipts and expenditures with respect to any of the foregoing: Provided, how- ever, That nothing in this chapter shall relieve any public utility from keeping any accounts, memoranda, or records which such public utility may be required to keep by or under authority of the laws of any State. The Commission may prescribe a system of accounts to be kept by li- censees and public utilities and may classify such licensees and public utilities and prescribe a system of accounts for each class. The Com- mission, after notice and opportunity for hear- ing, may determine by order the accounts in which particular outlays and receipts shall be entered, charged, or credited. The burden of proof to justify every accounting entry ques- tioned by the Commission shall be on the person making, authorizing, or requiring such entry,