A bill to prevent escalation of the price of natural gas during the period beginning February 3, 1977, and ending July 31, 1977, as a result of the critical natural gas shortage.

Amends the Emergency Natural Gas Act of 1977 to stipulate that provisions of contracts entered into or renegotiated after the date of enactment of such Act but before August 1, 1977, shall not affect the amounts or prices of natural gas purchases under any other contractual provisions based on previous transactions.