Provides that within 15 days after the passage of this Act, the Federal Power Commission shall by regulation exempt natural gas companies from regulation under the Natural Gas Act of any activities or operation relating to the transportation or sale of natural gas; including natural gas subject to any contract for the sale or delivery of such gas, to any interstate natural gas pipeline company which does not have a sufficient supply of natural gas to fulfill the firm contractual requirements of specified customers, and which is curtailing deliveries pursuant to a curtailment plan on file with the Commission.
Provides that no exemption granted under this Act shall exceed one year in duration, but the Commission may, for good cause shown, extend any exemption granted for an additional one year. States that the Commission shall not deny, in whole or in part, the purchase price paid by an interstate natural gas pipeline company for gas exempted under this Act and regulations issued hereunder.
Introduced in House
Introduced in House
Referred to House Committee on Interstate and Foreign Commerce.
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