Temporary Natural Gas Market Correction Act of 1982

Summary

Temporary Natural Gas Market Correction Act of 1982 - Declares that any contract for the first sale of natural gas shall be deemed to include a volume adjustment option with respect to any natural gas the first sale delivery of which could occur pursuant to such contract at any time after the effective date of this Act and before November 1, 1983. Defines a volume adjustment option as a contract provision under which the purchaser may elect to refuse to take delivery under such contract of any volume of natural gas without incurring an obligation to pay any fee or charge with respect to the natural gas not delivered pursuant to such election. Provides, subject to certain exceptions, that the purchase by any natural gas pipeline company of any natural gas which is delivered on any day after the effective date of this Act and before November 1, 1983, at an excessive price shall be considered as fraud, abuse, or similar grounds for purposes of the Federal Energy Regulatory Commission (FERC) reviewing cost passthroughs. Considers the price of natural gas delivered to any natural gas pipeline company on any day excessive if that price exceeds the price of any other natural gas not delivered to such pipeline company on that day but which could have been acquired by such pipeline company for delivery on that day under any contract to which the pipeline is a party. Requires every natural gas pipeline company to file monthly with FERC: (1) a statement concerning the volume adjustment clause, as well as steps it has taken to achieve the lowest possible weighted average acquisition cost of natural gas; and (2) a modification of the costs to be recovered by the pipeline under a purchased gas adjustment clause (as defined in the Natural Gas Act), if the weighted average acquisition cost of natural gas by the pipeline is lower because of the volume adjustment option or because of other steps taken by the pipeline.

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Timeline

1. 25 January 1983

   Introduced

   Referred to House Committee on Energy and Commerce.

   Source: IntroReferral

2. 25 January 1983

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 January 1983

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 February 1983

   Referred

   Referred to Subcommittee on Fossil and Synthetic Fuels.

   Source: Committee

5. 16 March 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 22 March 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 23 March 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 24 March 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 7 April 1983

   Committee

   Subcommittee Hearings Held.

   Source: Committee

10. 12 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

11. 14 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

12. 19 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

13. 20 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

14. 21 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

15. 25 May 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

16. 8 June 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

17. 15 June 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

18. 12 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

19. 13 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

20. 14 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

21. 21 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

22. 25 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

23. 27 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

24. 28 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

25. 29 July 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

26. 2 November 1983

    Committee

    Clean Bill H.R.4277 Forwarded by Subcommittee to Full Committee in Lieu.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 25 January 1983

  Open at official source

Sponsors

• Rep. Gaydos, Joseph M. [D-PA-20] · D · Sponsor
• · hsif00 · Standing

Related records

• related to ← Temporary Natural Gas Market Correction Act of 1982
• related to ← Natural Gas Market Policy Act of 1984