Texas Utilities Code - Section 102.051. Report Of Certain Transactions; Railroad Commission Consideration
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Texas Laws > Utilities Code > Texas Utilities Code - Section 102.051. Report Of Certain Transactions; Railroad Commission Consideration
Section: 101.054 102.001 102.002 102.003 102.004 102.005 102.006 102.051 102.052 102.053 102.101 102.102 102.103 102.104 102.151
§ 102.051. REPORT OF CERTAIN TRANSACTIONS; RAILROAD
COMMISSION CONSIDERATION. (a) Not later than the 60th day after
the date the transaction takes effect, a gas utility shall report to
the railroad commission:
(1) a sale, acquisition, or lease of a plant as an
operating unit or system in this state for a total consideration of
more than $1 million; or
(2) a merger or consolidation with another gas utility
operating in this state.
(b) On the filing of a report with the railroad commission,
the railroad commission shall investigate the transaction
described by Subsection (a), with or without a public hearing, to
determine whether the action is consistent with the public
interest. In reaching its determination, the railroad commission
shall consider the reasonable value of the property, facilities, or
securities to be acquired, disposed of, merged, or consolidated.
(c) If the railroad commission finds that a transaction is
not in the public interest, the railroad commission shall take the
effect of the transaction into consideration in ratemaking
proceedings and disallow the effect of the transaction if the
transaction will unreasonably affect rates or service.
(d) This section does not apply to:
(1) the purchase of a unit of property for
(2) an addition to the facilities of a gas utility by
Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 32, § 1, eff. Sept. 1, 1999; Acts
2005, 79th Leg., ch. 1000, § 1, eff. Sept. 1, 2005.
Last modified: August 11, 2007