text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Continuity of Electric Capacity 
  Resources Act''.
  
  SEC. 2. DIVERSITY OF SUPPLY AND CONTINUITY OF ELECTRIC CAPACITY 
                RESOURCES.
  
      Title II of the Federal Power Act (16 U.S.C. 824 et seq.) is 
  amended by adding at the end the following:
  
  ``SEC. 224. DIVERSITY OF SUPPLY AND CONTINUITY OF ELECTRIC CAPACITY 
                RESOURCES.
  
      ``(a) Definitions.--In this subsection:
              ``(1) Bulk-power system; transmission organization.--The 
          terms `bulk-power system' and `transmission organization' have 
          the meaning given the terms in section 215.
              ``(2) Electric capacity resource.--The term `electric 
          capacity resource' means an electric generating resource, as 
          measured by the maximum load-carrying ability of the resource, 
          exclusive of station use and planned, unplanned, or other 
          outage or derating.
              ``(3) Regional reliability coordinator.--The term `regional 
          reliability coordinator' has the meaning given the term 
          `reliability coordinator' (as defined by the Electric 
          Reliability Organization).
      ``(b) Electric Capacity Resources Report.--
              ``(1) Notice.--Not later than 14 days after the date of 
          enactment of this section, the Commission shall submit to each 
          transmission organization with a tariff on file with the 
          Commission that includes provisions addressing the procurement 
          of electric capacity resources notice that the transmission 
          organization is required to file with the Commission a report 
          in accordance with paragraph (2).
              ``(2) Report.--Not later than 180 days after the date on 
          which a transmission organization receives a notice under 
          paragraph (1), the transmission organization shall submit to 
          the Commission a report that--
                      ``(A)(i) identifies electric capacity resources 
                  that are available to the transmission organization as 
                  of the date of the report; and
                      ``(ii) describes the fuel sources and operational 
                  characteristics of each electric capacity resource 
                  identified under clause (i);
                      ``(B) evaluates, using generally accepted metrics, 
                  the financial health, viability, and projected 
                  remaining years of service of the available electric 
                  capacity resources identified under subparagraph 
                  (A)(i);
                      ``(C) identifies--
                              ``(i) over the short- and long-term periods 
                          in the planning cycle of the transmission 
                          organization, announced and projected 
                          retirements of the available electric capacity 
                          resources;
                              ``(ii) the projected future needs of the 
                          transmission organization for electric capacity 
                          resources; and
                              ``(iii) the availability of transmission 
                          facilities and transmission support services 
                          necessary to provide for the transmission 
                          organization reasonable assurances of essential 
                          reliability services, including adequate 
                          voltage support;
                      ``(D) assesses the current and projected status of 
                  the reliability of the elements of the bulk-power 
                  system under the control of the transmission 
                  organization, over the short- and long-term periods in 
                  the planning cycle of the transmission organization 
                  (including the current and projected status of electric 
                  capacity resources), as determined by the regional 
                  reliability coordinator that has been designated by the 
                  Electric Reliability Organization to have oversight 
                  over the bulk-power system elements under the control 
                  of the transmission organization; and
                      ``(E) prior to the submission of the report, has 
                  been made available to members of the transmission 
                  organization and to the public for comment.
      ``(c) Tariff Amendments.--
              ``(1) In general.--Not later than 180 days after the date 
          on which the Commission receives a report submitted under 
          subsection (b), the transmission organization that submitted 
          the report shall file with the Commission--
                      ``(A) 1 or more tariff amendments that would 
                  achieve each of the objectives described in paragraph 
                  (2) with respect to the transmission organization; and
                      ``(B) supporting information that demonstrates the 
                  manner in which the amendments would achieve each of 
                  those objectives, taking into account the report 
                  submitted under subsection (b)(2).
              ``(2) Objectives.--The objectives referred to in paragraph 
          (1) are the following:
                      ``(A) A diverse generation portfolio and the 
                  availability of transmission facilities and 
                  transmission support services necessary to provide 
                  reasonable assurances of a continuous supply of 
                  electricity for customers of the transmission 
                  organization at the proper voltage and frequency.
                      ``(B) An enhanced opportunity for self-supply of 
                  electric capacity resources by electric cooperatives, 
                  Federal power marketing agencies, and State utilities 
                  with a service obligation (as those terms are defined 
                  in section 217(a)), with the term `self-supply' to be 
                  defined in the supporting information filed under 
                  paragraph (1).
                      ``(C) A reasonable assurance of short- and long-
                  term reliability, with the terms `short-term 
                  reliability' and `long-term reliability' to be defined 
                  by the applicable regional reliability coordinator 
                  referred to in subsection (b)(2)(D).
                      ``(D) A reasonable likelihood of prudent investment 
                  in, and adequate fuel supply for, existing and future 
                  electric capacity resources over the short- and long-
                  term periods in the planning cycle identified in the 
                  applicable report submitted under subsection (b)(2).''.
  
  SEC. 3. ACTIVITIES CARRIED OUT UNDER AN AUTHORIZATION DURING WAR OR 
                EMERGENCY.
  
      Section 202(c) of the Federal Power Act (16 U.S.C. 824a(c)) is 
  amended--
              (1) in the first sentence, by striking ``(c) During'' and 
          inserting the following:
      ``(c) Authorization During War or Emergency.--
              ``(1) In general.--During''; and
              (2) by adding at the end the following:
              ``(2) No liability.--Any person subject to an order issued 
          under this subsection shall not be liable for actions carried 
          out in compliance with the order.''.
target:  Continuity of Electric Capacity Resources Act  This bill amends the Federal Power Act to require the Federal Energy Regulatory Commission (FERC) to notify transmission organizations that they must file an electric capacity resources report if they have a tariff on file that addresses the procurement of electric capacity resources.  Report contents must:   identify electric capacity resources available to the transmission organization;  describe the fuel sources and operational characteristics of each electric capacity resource;  evaluate the financial health, viability, and projected remaining years of service of these available electric capacity resources; and  assess the current and projected reliability of the elements of the bulk-power system under the transmission organization's control.  Subsequent to this report, transmission organizations must also submit tariff amendments that would achieve specified objectives, including a diverse generation portfolio and the availability of transmission facilities and transmission support services that would provide a continuous supply of electricity for customers.  The bill shields any person from liability for actions taken to comply with a FERC order for temporary connections and exchanges of facilities during war or an energy emergency.
feat_title: Continuity of Electric Capacity Resources Act