Update (Companion Bill Filed): Texas Bill Filed To Require Registration Of Brokers
March 6, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Update: Another bill (HB 3645) which would require registration of brokers, and which has language substantially similar to SB 1497, has been filed, in the Texas House of Representatives
S.B. No. 1497 has been filed in the Texas legislature to require brokers to be registered with the PUC
Under the bill, "brokerage services" means providing advice or
procurement services to, or acting on behalf of, a retail electric
customer regarding the selection of a retail electric provider, or
the product or service of a retail electric provider, or selling or
attempting to sell retail electric products or services offered by
retail electric providers to retail electric customers, including
Under the bill, a person may not provide brokerage services for compensation or other consideration unless the person is
registered with the PUC as a broker.
The bill provides that a retail electric provider is not a broker and may not
knowingly provide bids or offers to an unregistered broker, and a
broker may not sell or take title to electric energy.
The bill provides that brokers registering with the PUC shall comply
with customer protection provisions, disclosure requirements, and
marketing guidelines established by the commission and by statute.
The bill requires that the commission shall adopt rules as necessary to
implement the bill.
The bill provides that the PUC shall process a person's application for
registration as a broker not later than the 60th day after the date
the person files the application.