The Commission may approve a participant funding plan that allocates costs related to transmission upgrades or new generator interconnection, without regard to whether an applicant is a member of a Commission-approved Transmission Organization, if the plan results in rates that—

1. (1) are just and reasonable;
2. (2) are not unduly discriminatory or preferential; and
3. (3) are otherwise consistent with sections 824d and 824e of title 16.

(Pub. L. 109–58, title XII, § 1242, Aug. 8, 2005, 119 Stat. 962.)