1. Short title
This Act may be cited as the “Fair Ratepayer Accountability, Transparency, and Efficiency Standards Act” or the “Fair RATES Act”.
Fair Ratepayer Accountability, Transparency, and Efficiency Standards Act
AN ACT
To amend the Federal Power Act to provide that any inaction by the Federal Energy Regulatory Commission that allows a rate change to go into effect shall be treated as an order by the Commission for purposes of rehearing and court review.
2. Amendment to the Federal Power Act
Subsection (d) of section 205 of the Federal Power Act (16 U.S.C. 824d(d)) is amended by adding at the end the following: “Any absence of action by the Commission that allows a change to take effect under this section, including the Commission allowing the 60 days’ notice herein provided to expire without Commission action, shall be treated as an order issued by the Commission accepting such change for purposes of section 313.”.