National Energy Corporation Act

National Energy Corporation Act - Amends the Department of Energy Organization Act to establish an independent instrumentality of the United States to be known as the National Energy Corporation, which shall be a wholly owned government corporation. Authorizes the Corporation to: (1) explore for oil, natural gas, coal, and uranium on Federal lands and on lands under the ownership or control of Federal agencies, and to inventory the production capability of such lands for such energy resources; (2) develop, import, purchase, store, transfer, and sell such energy resources; (3) engage in research, development, and demonstration of improved methods of discovering and utilizing such energy resources; and (4) engage in other specified activities relating to energy resources and development, using the most advanced environmentally sound methods and technologies. Directs the Corporation to establish priorities among its activities so as to alleviate actual or anticipated shortages of oil, natural gas, coal, or uranium, and their derivatives; to maximize competition among energy industries; to maintain the best export prices of United States coal and uranium; to give preference to the purchase of energy resources from international entities willing to sell at prices lower than the world market price; and to submit specified reports.

Establishes standby reserves to provide the Nation with readily available sources of additional oil, natural gas, coal and uranium in times of actual or anticipated shortage.

Authorizes the President to designate as a standby reserve any Federal lands not offered for sale or lease for energy resource development. Authorizes the President with the approval of Congress, or the Congress by concurrent resolution, to issue a directive to the Corporation to construct energy production facilities at such reserves in times of shortages.

Authorizes the Corporation to identify and select up to 30 percent of any public offering of Federal lands for sale or lease for energy resource development upon notice to the offering authority, and to obtain by conveyance from such authority, without consideration, such acreage after completion of the bidding process. Authorizes the Corporation to transfer its interest in such acreage to the highest bidder, in accordance with the terms of the bid, and to have the amount of such bid accrue to the Corporation. Specifies procedures for the development of energy resources on such land.

Directs the Corporation to notify the Administrator of the Environmental Protection Agency of its determinations to construct energy resource facilities, and to obtain the Administrator's approval of such proposals. Requires the Corporation to utilize the highest and best commercially available methods to protect environmental quality.

Sets forth principles and standards for the Corporation acting under the authority of this Act as the exclusive bargaining agent for the United States in purchases and sales of energy resources.

Exempts the Corporation from Federal taxation.

Directs the Corporation to prepare and submit annual reports of its activities.

Establishes a Citizens Advisory Commission within the Corporation to monitor, review, evaluate, investigate, and make recommendations concerning the activities of the Corporation. Authorizes the appropriation of up to $1,500,000 to such Commission for each fiscal year.

Authorizes the Corporation to issue bonds not to exceed an aggregate of $1,000,000,000 outstanding at any one time.

Authorizes the appropriation of $100,000,000 for each of the ten fiscal years commencing with fiscal year 1980 to carry out the purposes of this Act.

Directs the Secretary of Energy to transfer all rights in any uranium enrichment facilities owned by the Department of Energy to the Corporation.