Federal Power Act exemption

A consumer-regulated electric utility— (1) shall be exempt from regulation under the Federal Power Act (16 U.S.C. 791a et seq.), including with respect to— (A) rate regulation; (B) corporate or financial oversight; (C) transmission or distribution regulation; (D) reliability standards under section 215 of that Act (16 U.S.C. 824o); (E) interconnection requirements; (F) participation in regional transmission planning or cost allocation; and (G) merger, consolidation, acquisition, or disposition approval under section 203 of that Act (16 U.S.C. 824b); (2) shall not be considered to be a public utility for purposes of that Act; (3) shall not be considered to be a part of— (A) the bulk-power system; or (B) the Bulk Electric System (as defined by the Electric Reliability Organization); and (4) shall not be required to register with the Electric Reliability Organization or comply with reliability standards, unless the consumer-regulated electric utility voluntarily elects to connect to the bulk-power system.