Return on equity for advanced transmission conductors

Section 219 of the Federal Power Act (16 U.S.C. 824s) is amended— (1) in subsection (a), by striking Not later than 1 year after the date of enactment of this section, the and inserting The; (2) in subsection (b), in the matter preceding paragraph (1), by inserting issued under subsection (a) after rule; (3) in subsection (c)— (A) in the second sentence, by striking The Commission and inserting the following: (2) Recoverable costs The Commission; and (B) in the first sentence, by striking In the rule issued under this section and inserting the following: (1) In general In the rule issued under subsection (a); (4) in subsection (d), by striking All rates approved under the rules adopted pursuant to this section, including any revisions to the rules, are and inserting Any rate approved under a rule issued pursuant to this section (including a revision to a rule) shall be; and (5) by adding at the end the following: (e) Advanced transmission conductors (1) Return on equity Not later than 1 year after the date of enactment of the REWIRE Act, the Commission shall promulgate new, or revise existing, rules under this section to improve the return on equity for investments in advanced transmission conductors (as defined in section 2 of that Act). (2) Consumer protections The Commission shall ensure that all rates approved under the rules promulgated or revised under this subsection (including any subsequent revisions to those rules) are just and reasonable and not unduly discriminatory or preferential, as required by subsection (d)..