Power Marketing Administration Privatization and Reform Act of 1996

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Full Cost Recovery and Market Rates Title II: Privatization of PMA and TVA Assets Power Marketing Administration Privatization and Reform Act of 1996 - Title I: Full Cost Recovery and Market Rates - Directs the Secretary of Energy to develop and implement interim and final rates for power sales by Federal Power Marketing Administrations (PMAs) designed to recover all power related operations and maintenance expenses, including project investment costs pertaining to power production. (Sec. 102) Cites conditions under which the Secretary may price power sold by PMAs at market rates if the transition to full cost recovery rates would result in rates that exceed market rates. Instructs the Secretary to establish: (1) procedures to assure that all power sold by PMAs is sold at prices set by demand and supply within the relevant bulk power supply market; and (2) bid and auction procedures to implement market-based pricing for power marketing. Grants public bodies and cooperatives rights of first refusal with respect to future Federal power allocations or reallocations. Instructs the Secretary to require each PMA to implement: (1) program management in order to…