Electric Utility Rate and Structural Reform Act

Electric Utility Rate and Structural Reform Act - Title I: Declaration of Policy and Definitions - Declares the purposes of this Act to be: (1) increasing efficiency in the electric utility industry; (2) insuring that rates reflect true service costs; and (3) fostering competition to supplement existing regulation. Defines "capacity factor," "marginal cost," "load management," "load factor," "peak service," "class A" and "Class B electric utilities," and other terms relevant to this Act.

Title II: Load Management Procedures - Directs the Administrator of the Federal Energy Administration to prescribe regulations instructing class A and class B utilities to implement rate reform and effective loan management techniques. Requires such utilities to submit annual reports to the Administrator demonstrating their compliance with the prescribed regulations.

Title III: Amendments to Federal Power Act - Empowers the Federal Power Commission, when necessary to foster competition or promote the public interest, to direct a public utility: (1) to extend or improve its transmission facilities; (2) to establish physical connection of its transmission facilities with the facilities of persons or municipalities engaged in the transmission or sale of electric energy; and (3) to sell to or wheel for or exchange energy with such persons or municipalities.

Requires that, upon enactment of these provisions, utilities and persons proposing to acquire or operate electric utility facilities obtain from the Commission a certificate of public necessity. Provides that those already engaged in the transmission of electric energy will have 90 days from the date of enactment to apply for such certificate, which shall be issued automatically. Directs, in all other cases, that the Commission hold hearings to determine the merits of each application.

Allows the Commission to attach to the issuance of certificates such terms and conditions as the promotion of competition and the public interest may require. Provides that, where the holder of a certificate is unable to procure by contract or agreement with a property owner, the necessary right-of-way for his facilities, he may acquire the same by exercise of eminent domain in the United Stated District Court where the property is situated. Allows such courts jurisdiction only where the owner's claim exceeds $100,000.

Title IV: Miscellaneous - Directs the Commission to complete, within two years, a study of means to foster increased competition in the electric utility industry. Authorizes appropriations not to exceed $1,000,000 in any fiscal year to carry out this provision. Enables the Administrator to make grants to States or local regulatory agencies to compensate such agencies for additional costs incurred in complying with title II of this Act. Authorizes appropriations not to exceed $5,000,000 in any fiscal year to carry out this provision. Authorizes appropriations of such other sums as are necessary to implement the provisions of this Act.

Declares that all the antitrust laws of the United States apply to the generation, transmission, and sale of electric energy.