The "Streamlining Powerlines Essential to Electric Demand and Reliability Act of 2025," or "SPEED and Reliability Act of 2025," aims to significantly streamline the federal permitting process for electric transmission facilities deemed essential for national interest. This legislation amends the Federal Power Act, primarily by expanding the Federal Energy Regulatory Commission's (FERC) backstop authority to issue permits for the construction or modification of such facilities. FERC can now act if a state commission has not made a decision within a specified timeframe, provided the project meets specific national interest criteria.

The bill outlines several conditions for FERC to issue a permit, including that the facilities must be for interstate commerce, consistent with the public interest, and significantly reduce transmission congestion while improving reliability. Projects must also align with sound national energy policy, enhance energy independence, and be capable of transmitting at least 100 kilovolts. Crucially, the legislation mandates that FERC afford reasonable opportunity for states, federal agencies, Indian Tribes, and private property owners to present their views, and explicitly requires FERC to take into account landowner input.

A key provision revises cost allocation principles, requiring transmitting utilities to file tariffs that ensure costs are allocated to customers who directly benefit from the improved reliability, reduced congestion, or other advantages of the new or modified facilities. This includes a strong ratepayer protection clause, preventing customers who receive no or trivial benefits from being involuntarily allocated costs. Furthermore, the bill designates FERC as the lead agency for coordinating federal authorizations for these permitted facilities, except for those on the Outer Continental Shelf where the Department of the Interior takes the lead.

The Act clarifies FERC's jurisdiction, extending it to all transmitting utilities for the purposes of this section, including those typically exempt under the Federal Power Act, though it explicitly excludes the ERCOT region. It also makes conforming amendments to other laws, removing references to "national interest electric transmission corridors," indicating a shift in how such projects are designated. Finally, the bill includes provisions to minimize regulatory burden by stating that no new rulemaking is required for its implementation, and it preserves FERC's existing authority over retail sales and local distribution.