SB 137: PUBLIC UTILITIES COMMISSION; ELECTRIC UTILITY COMPANIES; ACQUISITIONS; MERGERS; CONSOLIDATIONS; APPLICATION REVIEW PROCESS; ALTERNATIVE APPLICATIONS; NON-INVESTOR-OWNED UTILITIES OWNERSHIP MODELS; COLLECTIVE BARGAINING AGREEMENTS; POWER PURCHASE AGREEMENTS
- Session Year: 2025-2026
- House: Senate
- Latest Version Date: 2025-03-13
Current Status:
In Progress
(2025-12-08: Carried over to 2026 Regular Session.)
Introduced
In Committee
First Chamber
In Committee
Second Chamber
Final Decking
Enacted
Requires the Public Utilities Commission to consider whether approving a proposed merger or acquisition would or would not further the State's renewable energy goals. Prohibits the acquiring entity of an electric utility company from terminating or attempting to renegotiate any existing and valid power purchase agreements and requires the acquiring entity to assume and be bound by existing collective bargaining agreements and retain all covered employees. Establishes a process to ensure that when an electric utility is subject to an application for a proposed acquisition, merger, or consolidation by a potential acquiring entity that is an investor-owned utility and seeks approval of the application from the Public Utilities Commission, the electric utility shall demonstrate that it solicited bids from potential acquiring entities that operate under a non-investor-owned utility ownership model. Requires the electric utility to submit acceptable bids from a potential acquiring entity operating under a non-investor-owned utility ownership model concurrently with an application by a potential acquiring entity that is an investor-owned utility and the Public Utilities Commission to review those applications concurrently. Effective 7/1/3000. (HD1)
Discussed in Hearing
16MINHouse Standing Committee on Consumer Protection & Commerce
9MINHouse Standing Committee on Energy & Environmental Protection
7MIN