The Electricity Transmission Scorecard Act aims to significantly improve transparency and accountability within the electricity transmission sector by requiring standardized performance reporting. This legislation mandates that various entities, including covered transmission owners, Independent System Operators (ISOs), Regional Transmission Organizations (RTOs), and transmission planning entities, regularly submit detailed performance data. The overarching goal is to foster cost-effective investment, prevent discriminatory practices, and protect ratepayers by ensuring a more reliable, affordable, and efficient interstate transmission system.

Under this Act, covered transmission owners must biannually develop and publish a Transmission Investment, Accountability, and Performance Scorecard (TIAPS). These scorecards will include metrics evaluating critical areas such as ratepayer affordability, financing costs, investment prudency and cost recovery, investment effectiveness, system reliability, interconnection fairness, and non-operational cost recovery. The Commission will define specific metrics and methodologies for these reports.

Similarly, ISOs, RTOs, and transmission planning entities are required to annually submit a Regional Investment, Accountability, and Performance Scorecard (RIAPS). These regional scorecards will aggregate metrics from individual transmission owners and include regional-specific metrics like market efficiency, regional interconnection performance, regional and interregional development, seams management, and greenhouse gas emissions intensity. This ensures comprehensive oversight of regional grid operations.

To ensure consistency and credibility, the Commission will standardize all required metrics and calculation methodologies, allowing for exceptions only when regionally or structurally necessary. All scorecards must undergo verification by independent evaluators, approved based on strict expertise and independence criteria. The Act also mandates the establishment of a public, searchable online portal to house all submitted scorecards and their underlying, non-confidential data in a machine-readable format.

The Commission is tasked with holding regular technical conferences and convening stakeholder advisory groups to solicit feedback and advise on the effectiveness and refinement of scorecard metrics. These groups will include representatives from state commissions, transmission owners, ratepayers, and experts. Violations of these reporting requirements by entities subject to the Federal Power Act will be treated as violations of that Act, ensuring enforcement and continuous improvement of the reporting framework.