A bill to amend the Natural Gas Policy Act of 1978 to impose a moratorium on price increases.

Amends the Natural Gas Policy Act of 1978 to set the maximum lawful price on any first sale of any natural gas from November 29, 1982, through January 1, 1985, at the maximum lawful price applicable to such sale on October 1, 1982.

Provides that the maximum lawful price from November 29, 1982 through January 1, 1985 for any first sale of natural gas from a well the surface drilling of which began prior to November 29, 1982, and for which there was no maximum lawful price on October 1, 1982 because of the elimination of price controls, shall be the contract price specified for deliveries of such natural gas on October 1, 1982.

Provides that following the expiration of the price freeze imposed by this Act, the maximum lawful price for any first sale of natural gas on October 1, 1982 shall increase from the October 1, 1982 level at the rate specified for that category of natural gas.

Extends for two years the expiration date of: (1) price controls; and (2) standby authority.