A bill to amend the Natural Gas Act to extend its application to the direct sale of natural gas in interstate commerce, and to provide that provisions of the act shall not apply to certain sales in interstate commerce.
Natural Gas Conservation Act - Extends the application of the Natural Gas Act to the direct sale of natural gas in interstate commerce. Provides that the Act and the Federal Power Commission's regulatory authority shall not apply to the sale of natural gas dedicated for the first time or rededicated to interstate commerce on or after January, 1975, or produced from wells commenced on or after January, 1975, for domestic, commercial, industrial, or any other use, by any person, provided that person is not engaged in the transportation of natural gas in interstate commerce.
Sets forth the Federal Power Commission's power over rates and charges made by any natural gas company specified in the above paragraph.
Authorizes the Federal Power Commission for three years from the date of enactment to monitor the prices of natural gas sales exempted under this Act, and if necessary to establish ceilings as to the future rates of and charges for such sales.
Introduced in Senate
Referred to Senate Committee on Commerce.
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