A bill to eliminate artificial distortions and enhance competition in the natural gas marketplace.
Natural Gas Regulatory Reform Act of 1987 - Title I: Removal of Wellhead Price Controls and Repeal of Natural Gas Act Jurisdiction Over Certain First Sales of Natural Gas - Amends the Natural Gas Policy Act of 1978 to: (1) remove wellhead price controls over natural gas prices; (2) repeal the jurisdiction of the Federal Energy Regulatory Commission (FERC) over natural gas exempt from wellhead price controls; (3) repeal the President's standby price control authority; and (4) repeal congressional review over natural gas price controls.
Title II: Repeal and Amendment of Certain Sections of the Powerplant and Industrial Fuel Use Act of 1978 - Amends the Powerplant and Industrial Fuel Use Act of 1978 to: (1) repeal the prohibitions against the use by electric powerplants and major fuel-burning installations of petroleum and natural gas as primary energy sources: (2) remove the restrictions placed upon Federal major fuel-burning installations against the use of natural gas and petroleum as primary energy sources; and (3) repeal the guidelines for the emergency use of natural gas or petroleum as a primary energy source by any person operating a peakload powerplant or a major fuel-burning installation.
Revokes the authority of the Secretary of Energy to require any major fuel-burning installation to furnish certain information regarding the use of primary energy sources of fuel.
Title III: Repeal of Incremental Pricing Requirements- Amends the Natural Gas Policy Act of 1978 to repeal the natural gas incremental pricing provisions. States that incremental pricing rules promulgated by FERC shall continue in effect only with respect to the flow-through of costs incurred before enactment of this section, including any surcharges based on such costs.
Title IV: Limited Antitrust Relief For Independent Gas Producer Cooperatives - Declares that in any action under the antitrust laws, the formation or operation of an independent producer cooperative shall not be deemed illegal unless the anticompetitive effects substantially outweigh the procompetitive effects. States that any person who is entitled to recover damages resulting from the formation or operation of an independent producer cooperative shall recover only the actual damages sustained (rather than treble damages as provided under certain Federal law).
Introduced in Senate
Read twice and referred to the Committee on Energy and Natural Resources.
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