National Electrical Energy Reliability and Conservation Act

[AI summary unavailable — showing source text] National Electrical Energy Reliability and Conservation Act - Title I: National Power Grid and Regional Bulk Power Distribution - Creates a National Power Grid Corporation to establish and operate a national power grid system consisting of electric power generating facilities and a system of high voltage transmission lines. Authorizes regional corporations to act as exclusive marketing agents for the national grid in designated regions of the country. Authorizes electric utilities, publicly or privately owned, to enter into agreements for services with the regional corporation. Imposes specified conditions on any such contract for the National Grid which may be sold. Directs the National Grid to carry out a program of research and development in the area of electric power generation and transmission giving preference to environmental protection and land use research priorities. Authorizes up to $250,000,000 per fiscal year to carry out such program. Requires that at least two percent of the annual revenues collected by the National Grid be channeled into research and development activities. Transfers specified Federal generating and transmission facilities to the Grid. Title II: Ge…