Mandates that: (1) the Organization act to gain recognition in Canada and Mexico; and (2) the United States use its best efforts to enter into international agreements with those countries to effectuate compliance with Organization standards, and to promote the Organization's mission.
Requires every system operator to be a member of the electric reliability organization and of any Affiliated Regional Reliability Entity pertinent to the region in which the system operator either operates, or is responsible for the operation of a bulk-power system facility.
Grants the Organization disciplinary and enforcement powers. Provides for the assessment and recovery of implementation and enforcement costs incurred by the Organization and each Affiliated Regional Reliability Entity, respectively.
Directs the Commission, upon the petition of two-thirds of the States within a region that have more than one-half of their electric loan served within such region, to establish a regional advisory body to advise on: (1) the governance of an existing or proposed affiliated regional reliability entity; and (2) whether a proposed organization standard, entity rule, variance, or assessment fee is just, reasonable, not unduly discriminatory or preferential, and in the public interest.