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Texas Senate Committee Hears Support For Bill Which Would Regulate Brokers

March 19,2019



The Texas Senate Business & Commerce Committee this morning heard testimony on SB 1497

As exclusively first reported by EnergyChoiceMatters.com, S.B. No. 1497 would require brokers to be registered with the PUC

Under the bill, "brokerage services" means providing advice or procurement services to, or acting on behalf of, a retail electric customer regarding the selection of a retail electric provider, or the product or service of a retail electric provider, or selling or attempting to sell retail electric products or services offered by retail electric providers to retail electric customers, including online services.

Under the bill, a person may not provide brokerage services for compensation or other consideration unless the person is registered with the PUC as a broker.

Groups representing brokers as well as retail electric providers testified in support of the bill. Representatives from 5 as well as The Energy Professionals Association (TEPA) testified in support of the bill

A representative of the Texas Energy Association for Marketers noted that TEAM was working with the bill's author to ensure that the term broker is defined to not include agents or vendors engaged by retail electric providers, who are acting as representatives of the REP, for which the REP is currently responsible for such agent's actions (and therefore there is already regulation of such agents through the REP).

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Texas   Brokers  

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