Maria Cantwell: “This Senator believes we have just begun to have debate on two important issues that have emerged since that legislation…”

“This Senator believes we have just begun to have debate on two important issues that have emerged since that legislation was passed by this body. The first issue is we now know for a fact, proven by the Federal Regulatory Commission, by the Department of Justice, and by Enron's own memos, that market manipulation has occurred. The 2002 Energy bill does not address that issue. This body will need to come back and address that issue. The second issue: The Federal Regulatory Commission, since the passage of the 2002 act, issued a rule calling for the implementation of mandatory regional transmission organizations and standard market design. For my colleagues who do not understand what that means, it means a national grid where your region's cheap, affordable electricity at cost-based rates might be displaced by the highest bidder of an energy company that wants to sell its more expensive energy in your State. The 2002 bill does not address that.”