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 - Amends the Natural Gas Act to prohibit the Federal Power Commission from regulating sales produced or deliveries of natural gas produced after January, 1977, provided such producers are not engaged in the transportation of natural gas in interstate commerce. Prohibits the Commission from regulating rates or changes made by natural gas companies dealing with affiliates to the extent that such prices do not exceed current prices paid for comparable gas to nonaffiliates.
Authorizes the Federal Power Commission to monitor the wellhead prices of natural gas exempted under this Act for a three-year period. Authorizes the Commission to re-impose ceiling prices where necessary in accordance with specified factors.
Introduced in Senate
Referred to Senate Committee on Commerce (Subsequently: Commerce, Science, and Transportation).
Pursuant to S. Res. 4, Committee name changed.
Committee on Commerce, Science, and Transportation discharged in Senate (Pursuant to S. Res. 4).
Committee on Commerce, Science, and Transportation discharged in Senate (Pursuant to S. Res. 4).
Rereferred to Senate Committee on Energy and Natural Resources.
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