Electric Power Reliability Act

Electricity Power Reliability Act - Provides for the establishment or regional councils made up of electric systems in the respective regions for the purpose of carrying out regional and interregional coordination. Provides that annual reports will be required from each regional council to the Federal Power Commission and the Commission shall also transmit an annual report to the Congress detailing the effectiveness of the regional and interregional coordination efforts.

Provides for the establishment of a National Electric Studies Committee to consolidate electric industry efforts to investigate major present and future problems in planning and operating bulk power supply facilities.

Provides also for the establishment of advisory boards to assist the Commission in its consideration of matters coming before the Commission.

Requires the filing with the Commission of all oral or written agreements for coordinated planning or operation of bulk power supply facilities between electric systems.

Empowers the Commission, upon recommendation of a regional council or upon its own motion, to promulgate reliability standards for the planning and operation of bulk power facilities.

Provides that the Commission is further empowered to review and approve the construction of extra-high-voltage lines.

Provides for the Commission's review of comments of Federal, interstate, and State and local land planning agencies as to the use of the land, including esthetic considerations for bulk power facilities.

Empowers the Commission to order any electric system to establish physical connection of its transmission facilities with the facilities of one or more other electric systems if such requirement will not place any of the systems under an undue burden.

Prohibits any abandoment or curtailment of bulk power supply facilities if such actions would effect bulk power supply without approval of the Commission.

Authorizes the Commission to exempt electric systems from any requirement of this Act whenever it determines that such exemption is necessary and appropriate to carry out the objectives of this Act.