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.
Source:
Section 35.034 — Transfer of Assets, https://statutes.capitol.texas.gov/Docs/UT/htm/UT.35.htm#35.034 (accessed May 26, 2025).
