April 12, 2007 

Texas Manufacturers Applaud Passage of Reliable Power Amendment

The Texas Association of Manufacturers released the following today after the Texas House of Representatives passed Representatives Geren  and Miller’s Reliable Power Amendment to HB1189 (SB 482). 

Austin, TX – The Texas House of Representatives voted today to protect Texas consumers, countless jobs and reliable electricity by passing the Reliable Power Amendment, according to the Texas Association of Manufacturers (TAM).

The “Reliable Power Amendment” to HB1189 (SB 482) was sponsored by Representatives Charlie Geren and Sid Miller and co-sponsored by more than 70 Representatives. 

“Texas manufacturers applaud Representatives Geren and Miller and their colleagues for their sound judgment and commitment to keeping our electricity reliable and protecting Texas consumers, jobs and our economic prosperity,” said Tony Bennett, chairman of TAM.  “Reliable electric service is central to the health of the Texas economy and the hundreds of thousands of jobs manufacturers support.  Today’s actions by the House clearly indicate that reliable power is indeed a priority in Texas,” he said.

Representative Geren’s “Reliable Power Amendment” ensures reliable power in Texas by making legally binding the previous commitments made by KKR/TPG to the Public Utility Commission (PUC) for the regulated utility -- TXU Electric Delivery.  The investors’ commitments were previously outlined in a letter submitted to the PUC.  In addition to making these commitments binding, the amendment requires future mergers and acquisitions of state-regulated utilities to receive a timely, meaningful review and approval by the PUC, prior to closure of a transaction.

"We are very encouraged by the House's action to ensure electricity reliability, which protects Texas consumers and jobs and helps us prepare for expected record demand for electricity.  We look forward to working with the conference committee to ensure the House’s actions today become law,” said Bennett.

Contact: Gretchen Fox, 512-694-4326