(a) Not later than January 15 of each odd-numbered year, the commission shall prepare a written report that includes:
(1) suggestions regarding modification and improvement of the commission’s statutory authority and for the improvement of utility regulation in general, including the regulation of water and sewer service under Chapter 13, Water Code, that the commission considers appropriate for protecting and furthering the interest of the public;
(2) a report on the scope of competition in the electric and telecommunications markets that includes:
(A) an assessment of:
(i) the effect of competition and industry restructuring on customers in both competitive and noncompetitive electric markets; and
(ii) the effect of competition on the rates and availability of electric services for residential and small commercial customers;
(B) an assessment of the effect of competition on:
(i) customers in both competitive and noncompetitive telecommunications markets, with a specific focus on rural markets; and
(ii) the rates and availability of telecommunications services for residential and business customers, including any effects on universal service; and
(C) a summary of commission action over the preceding two years that reflects changes in the scope of competition in regulated electric and telecommunications markets; and
(3) recommendations for legislation that the commission determines appropriate to promote the public interest in the context of partially competitive electric and telecommunications markets.
(b) A telecommunications utility, as defined by § 51.002, shall cooperate with the commission as necessary for the commission to satisfy the requirements of this section.