A bill to prevent the use of automatic adjustment clauses by Federally regulated gas and electric utilities.

Amends the Natural Gas Act to prohibit the Federal Energy Regulatory Commission from allowing any rate increase to go into effect pursuant to a purchased gas adjustment clause.

Amends the Federal Power Act to prohibit an electric utility from increasing rates pursuant to an automatic adjustment clause unless such increase reflects an increase in the cost of electric power purchased from a centrally dispatched power pool.