Electricity Competition and Reliability Act

[AI summary unavailable — showing source text] Electricity Competition and Reliability Act - Title I: Open Transmission Access - Amends the Federal Power Act (FPA) to declare that Federal regulation of electric energy transmission and sales: (1) does not affect State or municipality authority to require either retail electric competition or unbundled transmission and local distribution service for the delivery of electric energy directly to a retail electric consumer; (2) includes the unbundled transmission of electric energy sold at retail; and (3) does not extend to bundled retail sale of electric energy, the local distribution service component of any unbundled retail electric energy sale, or any retail sale component of unbundled retail electric energy sales which are each subject to State regulation. (Sec. 102) Authorizes the Federal Energy Regulatory Commission (FERC) to: (1) require transmitting utilities to provide transmission services on a nondiscriminatory basis; (2) authorize recovery of stranded costs arising from such requirement; and (3) mandate electric energy transmission directly to retail electric consumers served by local distribution facilities that are subject to open access. Repeals State regulatory autho…