A bill to provide financial assistance to regulated electric utilities to reduce the increases in electric utility rates caused by increases in the price of residual oil.
Energy Cost Parity Act - Authorizes the Federal Energy Administrator to pay 75 percent of the cost of residual fuel oil over the baseline price ($7.50 per barrel for calendar year 1975) to regulated public utilities. States that payments to regulated public utilities under this Act shall not, in any event, exceed $3.00 per barrel of residual oil used to generate electricity.
States that only regulated public utilities transferring the cost reductions resulting from payments under this Act shall be eligible to receive such payments.
Referred to House Committee on Interstate and Foreign Commerce.
Introduced in House
Introduced in House
Referred to House Committee on Interstate and Foreign Commerce.
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