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Relating to the registration and regulation of brokers by the Public Utility Commission of Texas.
No significant fiscal implication to the State is anticipated.
SB 1497 would require energy brokers in the state to register with the Public Utilities Commission, and would hold them to the standards of consumer protection provisions, disclosure requirements, and marketing guidelines established by the commission.
Texas Action recommends opposing SB 1497 because it infringes upon principles of free markets and limited government. As the bill's author acknowledges, the "emergence of brokers is a reflection of the maturation and growth of the electric market," and further government interference in that market would be antithetical to our free market principles. Additionally, consumers have a personal responsibility to know and understand the terms of the contracts to which they enter, especially when the terms seem too good to be true.