Natural Gas Consumer Relief Act

Summary

Natural Gas Consumer Relief Act - Amends the Natural Gas Policy Act of 1978 to eliminate the automatic inflation adjustment factor and to provide a new formula for determining the maximum lawful price for: (1) new natural gas and certain natural gas produced from the Outer Continental Shelf; (2) natural gas from new, onshore production wells; (3) natural gas dedicated to interstate commerce; (4) natural gas sales under existing intrastate contracts; (5) natural gas sales under both interstate and intrastate rollover contracts; (6) high-cost natural gas; (7) stripper well natural gas; and (8) other categories of natural gas. Authorizes the Federal Energy Regulatory Commission to prescribe increases in the maximum price for any category of natural gas, but only if such increases are based upon increased production costs and are just and reasonable. Prohibits the Commission, when determining a new maximum price, from considering the costs of fuels or commodities other than and commodities actually used in producing the gas. Provides for the application of this Act to high-cost natural gas produced from a well the surface drilling of which commenced after enactment. Requires a seller to petition the Commission for any adjustment in the maximum price.

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1 official file

• Introduced in House

  summary · EN · 3 June 1982

  Open at official source

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