A bill to amend section 305 of the Federal Power Act.

Amends the Federal Power Act to prohibit, after six months from the effective date of this Act, public utilities from having as an officer or director any person who is an officer, director, partner, appointee, or representative of: (1) a banking institution; (2) a corporation or a subsidiary owned by a banking institution; (3) another public utility; (4) a securities marketing firm; (5) an electrical equipment supplier to the utility; or (6) a coal or oil company doing business with the utility.

Authorizes the Federal Power Commission to prescribe rules and regulations to allow for exceptions from such requirements in cases where public or private interests are not adversely affected by such conflicts.