Rep. Steve Largent (R-OK) plans to introduce a comprehensivebill to restructure the retail power industry early in the 106thCongress.

“I am now in the process of drafting a restructuring bill thatreflects the views, values and priorities” of the members of theenergy and power subcommittee, he said in a “Dear Colleague” letterto House lawmakers. His office would not predict when Largent, whohas been working on the measure since last April, would unveil hisbill.

“Electricity restructuring is one of the issues we will need toaddress quickly. Electricity is a $250 billion per year industry,and the estimated savings realized by consumers from restructuringrange from $15 billion to $40 billion per year,” Largent wrote. Heindicated he would like to “hit the ground running” on this issuein the new Congress.

In talks with 15 of 21 subcommittee members about restructuringlast fall, “I found that members’ differences were regional ratherthan partisan, with the most frequently mentioned areas of concernbeing reliability, date certain, grandfathering, stranded costs anduniversal service,” he said.

Largent found that more than half of the subcommittee membersfavored the grandfathering of state retail plans in federallegislation; eight believed all consumers should benefit fromrestructuring; six opposed having a date certain in legislation;and five were concerned about reliability and how stranded costswould be addressed.

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