Natural Gas Policy Act Amendments of 1983

Natural Gas Policy Act Amendments of 1983 - Title I: Findings and Purpose - Sets forth: congressional findings concerning natural gas, and the purposes of this Act.

Title II: Amendments to the Natural Gas Policy Act of 1978 - Amends the Natural Gas Policy Act of 1978 to add to the definition of Btu. Sets forth a method of determining the number of Btu's per unit volume of natural gas.

Defines definite price provision, indefinite price provision, market-out provision, and take-or-pay provision, for purposes of the use of such terms in a contract for the first sale of natural gas.

Requires the price under any contract for the first sale of natural gas in effect on November 8, 1978, to remain the price after November 8, 1978, unless the contract expressly and specifically by its plain language authorizes prices established by Congress, in which case any price not in excess of the applicable maximum lawful price may apply.

Repeals the annual inflation adjustment factors.

Provides that the maximum lawful price for any first sale of natural gas shall be deemed to include all costs necessary to, or associated with, the delivery of marketable natural gas to the purchaser. Authorizes an adjustment to the seller for necessary costs which deprive the seller of a just and reasonable return. Authorizes the purchaser an adjustment if the purchaser provides the seller consideration in addition to the maximum lawful prices.

Establishes a transportation rate of no less than $0.05 per million Btu's and requires all revenues in excess of such amount to be credited back to the pipeline's customers.

Declares null and void all indefinite price provisions in all contracts for the first sale of natural gas. Deems all contracts for the first sale of natural gas which is affected by deregulation to include a market-out provision. Deems all take-or-pay provisions in effect as of enactment to be reduced by 50 percent. Declares null and void any first sale contract which restricts the right of the purchaser to contest the contract. Requires all first sale contracts to be filed with the Federal Energy Regulatory Commission (FERC) and made available to the public. Confers jurisdiction on the FERC to resolve contract disputes, on petition by any party to a contract.

Directs the FERC to promulgate a final rule establishing the interest rate at which refunds shall be paid by natural gas companies on any collections made in excess of approved rates.

Directs the FERC to undertake and complete a comprehensive study of minimum bill and related provisions in interstate pipeline tariffs.