Electric Reliability Security Act of 2005

[AI summary unavailable — showing source text] Electric Reliability Security Act of 2005 - Amends the Federal Power Act (FPA) to grant the Federal Energy Regulatory Commission (FERC) jurisdiction over a domestic electric reliability organization, any regional entities, and all users, owners and operators of the bulk power system for purposes of approving reliability standards. Directs FERC, upon petition of certain States, to establish a regional advisory body to provide advice regarding: (1) an existing or proposed regional reliability entity; and (2) proposed standards and fees. Excludes Alaska and Hawaii from the provisions of this Act. Amends the Public Utility Regulatory Policies Act of 1978 (PURPA) to direct the Secretary of Energy to develop a model code to ensure electric facility safety and reliability. Establishes an Electricity Outage Investigation Board to investigate the causes of a major domestic bulk-power system failure. Directs the Secretary of Energy to establish a System Benefits Trust Fund Board which shall create the System Benefits Trust Fund to provide matching funds to States and Indian tribes for public benefits programs. Requires electric retail suppliers to: (1) implement energy efficiency and peak lo…