Natural Gas Supply Act

Natural Gas Supply Act - Title I: States that it is the purpose of this Act to authorize the President or his delegate, the Federal Power Commission, and the Federal Energy Administration to deal with existing and imminent shortages and dislocations of natural gas in the national distribution system which jeopardize the public health, safety, and welfare; to provide protection of natural gas service to customers who use natural gas for high priority end uses during periods of curtailed deliveries by natural gas companies; and to assure increased supplies of natural gas at reasonable prices.

Title II: - Interstate Pipeline Emergency Natural Gas Purchases Act - Grants the Federal Power Commission authority to allow interstate pipeline companies with insufficient natural gas for their high priority consumers of natural gas to acquire natural gas from intrastate sources and other interstate pipeline companies on an emergency basis free from the provisions of the Natural Gas Act.

Title III: - Curtailed Consumers Emergency Natural Gas Purchasers Act - Allows curtailed high priority consumers of natural gas to purchase natural gas from the intrastate market by enabling them to arrange for the transportation of such gas by regulated interstate pipeline companies.

Title IV: Emergency Energy Supply and Environmental Coordination Act Amendments - Provides authority to the Federal Energy Administrator to prohibit the use of natural gas when petroleum products or coal can be substituted by powerplants and major fuel burning installations.

Title V: - Propane Standby Allocation Act - Provides standby authority for the President to allocate propane during periods of actual or threatened severe shortages of natural gas.

Title VI: - States that termination of the authorities granted under this Act shall not affect any action or pending proceedings, civil or criminal, not finally determined on such date, nor any action or proceeding based upon any act committed prior to such date.

Title VII: - States that the Commission shall have no power to disallow, in whole or in part, in the rates and charges made, demanded, or received by any natural gas company the amounts paid for new natural gas, except that in any case where a natural gas company purchases natural gas from an affiliate or produces natural gas from its own properties, the Commission may disallow any portion of the cost thereof in the rate or charge made by such company which is in excess of current prices paid to nonaffiliates for comparable sales of new natural gas.