Provides that any plant constructed and operated for the purpose of manufacturing synthetic natural gas for sale in interstate commerce shall be subject to the same jurisdiction of the Federal Power Commission as exercised by the Commission under the Natural Gas Act with respect to any natural gas company.
States that such jurisdiction shall not extend to the feedstock of such plant or facilities associated with this feedstock. Stipulates that any natural gas company receiving Federal Power Commission authorization to produce, or to acquire from a subsidiary, such synthetic natural gas, may include in its cost of service a reasonable return on funds expended in connection therewith during the construction period of such plant. Requires that after commercial production has been achieved, the sale or transportation of such gas in interstate commerce shall be priced on a cost of service basis, including a reasonable return on the facility investment. Provides that no return shall be allowed a natural gas company for any funds invested in such plant by either State, local, or Federal Government.
Introduced in Senate
Referred to Senate Committee on Commerce.
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