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There is one summary for this bill. Bill summaries are authored by CRS.

National Power Grid Act - Title I: National Power Grid and Regional Bulk Power Distribution - Creates the National Power Grid Corporation which shall establish and operate a national power grid system. Specifies that the National Grid shall have a three member Board of Directors, which shall be appointed by the President, by and with the advice and consent of the Senate, and which shall exercise the functions of the National Grid.

Directs the National Grid to establish and operate a national power grid system, consisting of large electric power generating facilities, and a system of very high voltage transmission lines which, to the extent practicable, shall interconnect such generating facilities and the transmission systems of each regional corporation.

Provides that the National Grid shall contract to sell electric power to regional corporations at uniform rates throughout the United States which rates shall be set at the lowest possible level consistent with sound business principles and the environmental protection requirements of this Act.

Directs the National Grid to provide base load, peaking, or other power to regional corporations to meet requirements of which the National Grid has at least seven years notice.

Authorizes the National Grid to purchase surplus electric power generated by any electric utility on schedules and at rates agreed upon with such electric utility.

Makes it the duty of the National Grid to establish by regulation: (1) a number of bulk power supply regions which in the aggregation shall comprise the entire United States; and (2) a regional bulk power supply corporation in each region.

Provides that such regional corporations will be run by a 3 member Board of Directors selected by the national board.

Asserts that each regional corporation shall be the exclusive marketing agency for the National Grid within the region for which such corporation was established. Permits any electric utility, publicly or privately owned, to enter into a contract for services with a regional corporation which must market the electric power at the uniform rate established by the National Grid. Forbids a regional corporation from entering into a contract for services with any electric utility unless such utility agrees to permit the use of its excess transmission capacity for the purpose of wheeling power from facilities of such corporation or of the National Grid to load centers of other electric utilities contracting to purchase electric power from such Corporation.

Directs the National Grid to carry out a program of research development in the area of electric power generation and transmission, which program may include: (1) research and development activities conducted directly or through contracts with any person or public agency; (2) coordination of the National Grid program with programs of other public agencies, and (3) development of priorities for carrying out such a program, giving preference to environmental protection and land use research.

Authorizes to be appropriated to the National Grid for each fiscal year to carry out the research and development program an amount equal to (A) $250,000,000 less (B) two percent of the National Grid revenues.

Transfers to the National Grid all electric power generating and transmission facilities of the following agencies: Bureau of Reclamation, Army Corps of Engineers, Southwestern Power Administration, Southeastern Power Administration; Bonneville Power Administration; and Alaska Power Administration.

Title II: General Provisions Applicable to National Grid and to Regional Corporations - Subjects each corporation to Federal, State, and local environmental standards.

Requires that, prior to applying to any public agency for authority to construct any proposed facility, the corporation which proposes to construct such facility shall hold a public hearing, after adequate public notice, and allow interested persons to submit comments on such proposal.

Stipulates with regard to corporation Board of Director membership that: no more than 2 members may be of the same political party; one member shall represent consumer interests; one member shall represent the interests of publicly or cooperatively owned electric utilities; and one member shall represent the interests of privately owned electric companies.

Grants general corporate powers to corporations established under this Act and requires them to make complete and accurate books of account.

Authorizes each corporation to issue and sell bonds, notes, and other evidences of indebtedness to assist in financing its activities and to refund such bonds. Limits the aggregate outstanding amount of the United States guaranteed bonds issued by the National Grid and by all regional corporations to $15,000,000,000.

Requires each corporation to report to the President annually, and directs the President to transmit the report to the Congress with comments and recommendations.

Asserts that each corporation shall file with the President and with the Congress, in December of each year, a financial statement and a complete report as to the business of such corporation covering the preceding fiscal year.

There is one summary for this bill. Bill summaries are authored by CRS.

National Power Grid Act - Title I: National Power Grid and Regional Bulk Power Distribution - Creates the National Power Grid Corporation which shall establish and operate a national power grid system. Specifies that the National Grid shall have a three member Board of Directors, which shall be appointed by the President, by and with the advice and consent of the Senate, and which shall exercise the functions of the National Grid.

Directs the National Grid to establish and operate a national power grid system, consisting of large electric power generating facilities, and a system of very high voltage transmission lines which, to the extent practicable, shall interconnect such generating facilities and the transmission systems of each regional corporation.

Provides that the National Grid shall contract to sell electric power to regional corporations at uniform rates throughout the United States which rates shall be set at the lowest possible level consistent with sound business principles and the environmental protection requirements of this Act.

Directs the National Grid to provide base load, peaking, or other power to regional corporations to meet requirements of which the National Grid has at least seven years notice.

Authorizes the National Grid to purchase surplus electric power generated by any electric utility on schedules and at rates agreed upon with such electric utility.

Makes it the duty of the National Grid to establish by regulation: (1) a number of bulk power supply regions which in the aggregation shall comprise the entire United States; and (2) a regional bulk power supply corporation in each region.

Provides that such regional corporations will be run by a 3 member Board of Directors selected by the national board.

Asserts that each regional corporation shall be the exclusive marketing agency for the National Grid within the region for which such corporation was established. Permits any electric utility, publicly or privately owned, to enter into a contract for services with a regional corporation which must market the electric power at the uniform rate established by the National Grid. Forbids a regional corporation from entering into a contract for services with any electric utility unless such utility agrees to permit the use of its excess transmission capacity for the purpose of wheeling power from facilities of such corporation or of the National Grid to load centers of other electric utilities contracting to purchase electric power from such Corporation.

Directs the National Grid to carry out a program of research development in the area of electric power generation and transmission, which program may include: (1) research and development activities conducted directly or through contracts with any person or public agency; (2) coordination of the National Grid program with programs of other public agencies, and (3) development of priorities for carrying out such a program, giving preference to environmental protection and land use research.

Authorizes to be appropriated to the National Grid for each fiscal year to carry out the research and development program an amount equal to (A) $250,000,000 less (B) two percent of the National Grid revenues.

Transfers to the National Grid all electric power generating and transmission facilities of the following agencies: Bureau of Reclamation, Army Corps of Engineers, Southwestern Power Administration, Southeastern Power Administration; Bonneville Power Administration; and Alaska Power Administration.

Title II: General Provisions Applicable to National Grid and to Regional Corporations - Subjects each corporation to Federal, State, and local environmental standards.

Requires that, prior to applying to any public agency for authority to construct any proposed facility, the corporation which proposes to construct such facility shall hold a public hearing, after adequate public notice, and allow interested persons to submit comments on such proposal.

Stipulates with regard to corporation Board of Director membership that: no more than 2 members may be of the same political party; one member shall represent consumer interests; one member shall represent the interests of publicly or cooperatively owned electric utilities; and one member shall represent the interests of privately owned electric companies.

Grants general corporate powers to corporations established under this Act and requires them to make complete and accurate books of account.

Authorizes each corporation to issue and sell bonds, notes, and other evidences of indebtedness to assist in financing its activities and to refund such bonds. Limits the aggregate outstanding amount of the United States guaranteed bonds issued by the National Grid and by all regional corporations to $15,000,000,000.

Requires each corporation to report to the President annually, and directs the President to transmit the report to the Congress with comments and recommendations.

Asserts that each corporation shall file with the President and with the Congress, in December of each year, a financial statement and a complete report as to the business of such corporation covering the preceding fiscal year.

There is one summary for this bill. Bill summaries are authored by CRS.

National Power Grid Act - Title I: National Power Grid and Regional Bulk Power Distribution - Creates the National Power Grid Corporation which shall establish and operate a national power grid system. Specifies that the National Grid shall have a three member Board of Directors, which shall be appointed by the President, by and with the advice and consent of the Senate, and which shall exercise the functions of the National Grid.

Directs the National Grid to establish and operate a national power grid system, consisting of large electric power generating facilities, and a system of very high voltage transmission lines which, to the extent practicable, shall interconnect such generating facilities and the transmission systems of each regional corporation.

Provides that the National Grid shall contract to sell electric power to regional corporations at uniform rates throughout the United States which rates shall be set at the lowest possible level consistent with sound business principles and the environmental protection requirements of this Act.

Directs the National Grid to provide base load, peaking, or other power to regional corporations to meet requirements of which the National Grid has at least seven years notice.

Authorizes the National Grid to purchase surplus electric power generated by any electric utility on schedules and at rates agreed upon with such electric utility.

Makes it the duty of the National Grid to establish by regulation: (1) a number of bulk power supply regions which in the aggregation shall comprise the entire United States; and (2) a regional bulk power supply corporation in each region.

Provides that such regional corporations will be run by a 3 member Board of Directors selected by the national board.

Asserts that each regional corporation shall be the exclusive marketing agency for the National Grid within the region for which such corporation was established. Permits any electric utility, publicly or privately owned, to enter into a contract for services with a regional corporation which must market the electric power at the uniform rate established by the National Grid. Forbids a regional corporation from entering into a contract for services with any electric utility unless such utility agrees to permit the use of its excess transmission capacity for the purpose of wheeling power from facilities of such corporation or of the National Grid to load centers of other electric utilities contracting to purchase electric power from such Corporation.

Directs the National Grid to carry out a program of research development in the area of electric power generation and transmission, which program may include: (1) research and development activities conducted directly or through contracts with any person or public agency; (2) coordination of the National Grid program with programs of other public agencies, and (3) development of priorities for carrying out such a program, giving preference to environmental protection and land use research.

Authorizes to be appropriated to the National Grid for each fiscal year to carry out the research and development program an amount equal to (A) $250,000,000 less (B) two percent of the National Grid revenues.

Transfers to the National Grid all electric power generating and transmission facilities of the following agencies: Bureau of Reclamation, Army Corps of Engineers, Southwestern Power Administration, Southeastern Power Administration; Bonneville Power Administration; and Alaska Power Administration.

Title II: General Provisions Applicable to National Grid and to Regional Corporations - Subjects each corporation to Federal, State, and local environmental standards.

Requires that, prior to applying to any public agency for authority to construct any proposed facility, the corporation which proposes to construct such facility shall hold a public hearing, after adequate public notice, and allow interested persons to submit comments on such proposal.

Stipulates with regard to corporation Board of Director membership that: no more than 2 members may be of the same political party; one member shall represent consumer interests; one member shall represent the interests of publicly or cooperatively owned electric utilities; and one member shall represent the interests of privately owned electric companies.

Grants general corporate powers to corporations established under this Act and requires them to make complete and accurate books of account.

Authorizes each corporation to issue and sell bonds, notes, and other evidences of indebtedness to assist in financing its activities and to refund such bonds. Limits the aggregate outstanding amount of the United States guaranteed bonds issued by the National Grid and by all regional corporations to $15,000,000,000.

Requires each corporation to report to the President annually, and directs the President to transmit the report to the Congress with comments and recommendations.

Asserts that each corporation shall file with the President and with the Congress, in December of each year, a financial statement and a complete report as to the business of such corporation covering the preceding fiscal year.

There is one summary for this bill. Bill summaries are authored by CRS.

National Power Grid Act - Title I: National Power Grid and Regional Bulk Power Distribution - Creates the National Power Grid Corporation which shall establish and operate a national power grid system. Specifies that the National Grid shall have a three member Board of Directors, which shall be appointed by the President, by and with the advice and consent of the Senate, and which shall exercise the functions of the National Grid.

Directs the National Grid to establish and operate a national power grid system, consisting of large electric power generating facilities, and a system of very high voltage transmission lines which, to the extent practicable, shall interconnect such generating facilities and the transmission systems of each regional corporation.

Provides that the National Grid shall contract to sell electric power to regional corporations at uniform rates throughout the United States which rates shall be set at the lowest possible level consistent with sound business principles and the environmental protection requirements of this Act.

Directs the National Grid to provide base load, peaking, or other power to regional corporations to meet requirements of which the National Grid has at least seven years notice.

Authorizes the National Grid to purchase surplus electric power generated by any electric utility on schedules and at rates agreed upon with such electric utility.

Makes it the duty of the National Grid to establish by regulation: (1) a number of bulk power supply regions which in the aggregation shall comprise the entire United States; and (2) a regional bulk power supply corporation in each region.

Provides that such regional corporations will be run by a 3 member Board of Directors selected by the national board.

Asserts that each regional corporation shall be the exclusive marketing agency for the National Grid within the region for which such corporation was established. Permits any electric utility, publicly or privately owned, to enter into a contract for services with a regional corporation which must market the electric power at the uniform rate established by the National Grid. Forbids a regional corporation from entering into a contract for services with any electric utility unless such utility agrees to permit the use of its excess transmission capacity for the purpose of wheeling power from facilities of such corporation or of the National Grid to load centers of other electric utilities contracting to purchase electric power from such Corporation.

Directs the National Grid to carry out a program of research development in the area of electric power generation and transmission, which program may include: (1) research and development activities conducted directly or through contracts with any person or public agency; (2) coordination of the National Grid program with programs of other public agencies, and (3) development of priorities for carrying out such a program, giving preference to environmental protection and land use research.

Authorizes to be appropriated to the National Grid for each fiscal year to carry out the research and development program an amount equal to (A) $250,000,000 less (B) two percent of the National Grid revenues.

Transfers to the National Grid all electric power generating and transmission facilities of the following agencies: Bureau of Reclamation, Army Corps of Engineers, Southwestern Power Administration, Southeastern Power Administration; Bonneville Power Administration; and Alaska Power Administration.

Title II: General Provisions Applicable to National Grid and to Regional Corporations - Subjects each corporation to Federal, State, and local environmental standards.

Requires that, prior to applying to any public agency for authority to construct any proposed facility, the corporation which proposes to construct such facility shall hold a public hearing, after adequate public notice, and allow interested persons to submit comments on such proposal.

Stipulates with regard to corporation Board of Director membership that: no more than 2 members may be of the same political party; one member shall represent consumer interests; one member shall represent the interests of publicly or cooperatively owned electric utilities; and one member shall represent the interests of privately owned electric companies.

Grants general corporate powers to corporations established under this Act and requires them to make complete and accurate books of account.

Authorizes each corporation to issue and sell bonds, notes, and other evidences of indebtedness to assist in financing its activities and to refund such bonds. Limits the aggregate outstanding amount of the United States guaranteed bonds issued by the National Grid and by all regional corporations to $15,000,000,000.

Requires each corporation to report to the President annually, and directs the President to transmit the report to the Congress with comments and recommendations.

Asserts that each corporation shall file with the President and with the Congress, in December of each year, a financial statement and a complete report as to the business of such corporation covering the preceding fiscal year.