Much of failed energy bill resurrected by new congress.(Rep. Joe Barton introduces new legislation for national energy policy)

WASHINGTON, DC -- Although Congress failed to pass substantive energy legislation during its last session, Rep. Joe Barton (RTX) has introduced new legislation this term to put in place a national energy policy this year.

The draft electricity reform language was fashioned by Republican House lawmakers and includes some of the provisions from the bill that died last session. It has yet to be voted on by the full House. The Senate is preparing it own energy bill.

The Republican-written version of the House bill would also repeal Depression-era monopoly protections (PUHCA), strip the Federal Energy Regulatory Commission (FERC) of its merger-review authority, and give FERC limited power to condemn state lands to build needed transmission lines.

FERC would be directed to establish rules improving transparency in wholesale electric power markets. Roundtrip (or "wash") trades of electric power with intent to distort prices would be prohibited, and criminal and civil penalties for violations of the Federal Power Act would be increased.

FERC, in fact, is frequently a party to provisions of the bill, and while the legislation does not directly address the FERC's standard market design (SMD), some lawmakers see it as central to the fate of the bill, according to a Reuters news story.

A number of Southeastern and Northwestern states resent federal intrusion and have strongly expressed opposition to FERC's standard ...