To modify the emergency authority under section 202(c) of the Federal Power Act to increase transparency for ratepayers and prohibit orders that prevent or delay the retirement of power plants.

HR10687 was introduced in the House on October 1, 2026, and referred to the House Committee on Energy and Commerce. The bill modifies the emergency authority under Section 202(c) of the Federal Power Act to increase transparency for ratepayers and prohibit FERC from issuing orders that prevent or delay the retirement of power plants. This is a procedural change to FERC's existing authority, not a funding authorization.

The bill is at the earliest legislative stage with no cosponsors, suggesting limited momentum. The sponsor, Rep. Frank Mrvan (D-IN-1), is a relatively junior member, and the bill has not attracted bipartisan support. The path to enactment requires committee markup, House passage, Senate consideration, and presidential action, which is unlikely in the current session without broader coalition building.

If enacted, the primary effect would be to remove a regulatory tool that FERC uses to keep uneconomic generation online for reliability. This could accelerate retirement of coal and nuclear plants in RTO/ISO regions, particularly in PJM and MISO where must-run orders have been used. The direct beneficiaries would be plant owners seeking to close underperforming assets, such as NextEra Energy, which operates competitive generation in these markets. However, the financial impact on is ambiguous: while retiring plants eliminates operating losses, it also foregoes potential cost-recovery payments from must-run agreements.

The bill does not authorize any spending or create new incentives for replacement generation. Any shift in the generation mix would depend on market forces and separate state or federal policies. As such, the near-term market implications are negligible, and the bill is unlikely to move stock prices without further legislative progress.