PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 2915 "(B) each State commission having jurisdiction with respect to the retail electric and gas rates of such public utiuty company expressly permits sudi public utility to engage in a transaction otherwise prohibited under section (f)(D; and "(C) the transaction (aggregated with all other thenoutstanding transactions exempted under this subsection) does not exceed 5 per centum of the then-outstanding total capitalization of the public utility. "(g) PROHIBITION ON PLEDGING OR ENCUMBERING UTILITY ASSETS. —No public utility company that is subject to the jurisdiction of a State commission with respect to its retail electric or gas rates shall pledge or encumber any utility assets or utility assets of any subsidiary thereof for the benefit of an associate foreign utility company.". Subtitle B—Federal Power Act; Interstate Commerce in Electricity SEC. 721. AMENDMENTS TO SECTION 211 OF FEDERAL POWER ACT. Section 211 of the Federal Power Act (16 U.S.C. 824j) is amended as follows: (1) The first sentence of subsection (a) is amended to read as follows: "Any electric utility, Federal power marketing agency, or any other person generating electric energy for sale for resale, may apply to the Commission for an order under this subsection requiring a transmitting utility to provide transmission services (including any enlargement of transmission capacity necessary to provide such services) to the applicant.". (2) In the second sentence of subsection (a), stnke "the Commission may" and all that follows and insert "the Commission may issue such order if it finds that such order meets the requirements of section 212, and would otherwise be in the public interest. No order may be issued under this subsection unless the applicant has made a request for transmission services to the transmitting utility that would be the subject of such order at least 60 days prior to its filing of an application for such order.". (3) Amend subsection (b) to read as follows: "(b) RELIABILITY OF ELECTRIC SERVICE.— N O order may be issued under this section or section 210 if, after giving consideration to consistently applied regional or national reliability standards, guidelines, or criteria, the Commission finds that such order would unreasonably impair the continued reliability of electric systems affected by the order.". (4) In subsection (c)— (A) Strike out paragraph (1). (B) In paragraph (2) strike "which requires the electric" and insert which requires the transmitting". (C) Strike out paragraphs (3) and (4). (5) In subsection (d)— (A) In the first sentence of paragraph (1), strike "electric" and insert "transmitting" in each place it appears. (B) In the second sentence of paragraph (1) before "and each affected electric utility," insert each affected transmitting utility,".
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