This bill directs the Department of Energy to develop and report to specified congressional committees, after public notice and comment, recommended U.S. energy security valuation methods.

The report shall:

• evaluate and define U.S. energy security to reflect modern domestic and global energy markets and the collective needs of the United States and its allies and partners;
• identify procedures and criteria to ensure that energy-related actions that significantly affect the supply, distribution, or use of energy are evaluated with respect to their potential impact on energy security, consumers and the economy, energy supply diversity and resiliency, well-functioning and competitive energy markets, the U.S. trade balance, and national security objectives; and
• recommend an implementation strategy meeting specified requirements.