Tex. Utils. Code Section 35.034
Transfer of Assets

(a)

Unless an electric utility receives commission approval under Subsection (b), the utility may not sell or transfer a facility to an affiliate or otherwise consider the facility to be an eligible facility as defined by federal law if on May 27, 1995, the utility had a rate or charge in effect:

(1)

for or in connection with the construction of the facility;

(2)

for electric energy produced by the construction of the facility; or

(3)

for electric energy produced by the facility other than a portion of a rate or charge that represents recovery of the cost of a wholesale rate or charge.

(b)

The commission, after notice and hearing, may allow an electric utility to sell or transfer a facility governed by Subsection (a) to an affiliate or otherwise allow the facility to become an eligible facility only if the transaction:

(1)

will benefit ratepayers of the utility making the sale or transfer;

(2)

is in the public interest; and

(3)

otherwise complies with state law.

(c)

For purposes of this section, “electric utility” does not include a river authority.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 405, Sec. 20, eff. Sept. 1, 1999.

Source: Section 35.034 — Transfer of Assets, https://statutes.­capitol.­texas.­gov/Docs/UT/htm/UT.­35.­htm#35.­034 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 35.034’s source at texas​.gov