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

Summary

Amends the Natural Gas Policy Act of 1978 to set the maximum lawful price on any first sale of any natural gas delivered after January 6, 1983, at the maximum lawful price applicable to such sale on October 1, 1982. Provides that the maximum lawful price applicable to any first sale of natural gas delivered after January 6, 1983, for natural gas for which there was no applicable lawful price for deliveries on October 1, 1982, shall be: (1) the contract price specified for deliveries of such natural gas on October 1, 1982; or (2) if there was no contract price specified for deliveries of such natural gas on such date, the average of the prices paid on October 1, 1982, for deliveries of natural gas from the three nearest wells for which there similarly was no applicable maximum lawful price on October 1, 1982. Repeals provisions of the Act providing for the decontrol of certain natural gas prices.

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Documents

1 official file

• Introduced in House

  summary · EN · 6 January 1983

  Open at official source

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