A bill to regulate commerce to assure increased supplies of natural gas at reasonable prices for consumers.
Natural Gas Act Amendments - Amends the Natural Gas Act to terminate Federal Power Commission authority to directly regulate sales prices of new natural gas except for new natural gas produced from offshore Federal lands.
Stipulates that prices for onshore sales of new natural gas shall not exceed: (1) the ceiling price for sales of new natural gas produced from offshore Federal lands; (2) $1.60 per Mcf as adjusted by the Commission; or (3) a ceiling rate established by any State for interstate sale and consumption.
Stipulates that prices paid for natural gas in transactions between a natural gas company and its affiliates shall not exceed prices paid in comparable sales by persons not affiliated with any natural gas company.
Directs the Federal Power Commission to conduct studies and make an annual independent estimate of proved and potential natural gas reserves. Requires that the Commission keep current information available relating to the natural gas industry.
Establishes procedures for the establishment of ceiling prices for new natural gas produced from offshore Federal lands. Authorizes the Commission to grant exemptions to price ceilings within certain high-cost production areas. Establishes procedures for adjustments to price ceilings established pursuant to this Act.
Directs the Commission to prohibit the curtailment of adequate supplies of natural gas for essential agricultural purposes.
Stipulates that the provisions of the Natural Gas Act shall extend to synthetic natural gas.
Directs the Commission to prohibit the use of natural gas as boiler fuel where adequate alternatives are available. Authorizes exemptions from such prohibition where necessary to comply with pollution control or environmental protection and safety standards.
Directs the Commission to impose a user charge on sales of natural gas for use as boiler fuel.
Establishes procedures for the establishment and periodic revision of national ceiling prices for the sale of old natural gas in interstate commerce.
Introduced in Senate
Referred to Senate Committee on Commerce.
Reported to Senate from the Committee on Commerce with amendment, S. Rept. 94-907.
Reported to Senate from the Committee on Commerce with amendment, S. Rept. 94-907.
Placed on calendar in Senate under Subjects on the Table.
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