Natural Gas Policy Act Amendments of 1984

Summary

Natural Gas Policy Act Amendments of 1984 - Amends the Natural Gas Policy Act of 1978 to provide that in the case of any contract for the first sale of natural gas in effect as of the enactment of this Act which is exempt from wellhead price controls, beginning on December 31, 1984, any most-favored-nations-clause or any indefinite price escalator clause of any such contract may not operate to increase the price paid for such natural gas above the price paid as of December 31, 1984, multiplied by the monthly equivalent of the annual inflation adjustment factor applicable for such month. Defines "most-favored-nations-clause" to mean any provision of any contract which establishes the price by reference to the price paid under any other contract for the first sale of natural gas. Defines "indefinite price escalator clause" to mean any provision of any contract which provides for the establishment or adjustment of the price for natural gas delivered under such contract by reference to the price of any other commodity or which the Federal Energy Regulatory Commission determines is comparable in form and result. Amends the Powerplant and Industrial Fuel Use Act of 1978 to repeal prohibitions on the use of natural gas and/or petroleum in new electric powerplants, new major fuel-burning installations, existing major fuel- burning installations, certain boilers used for space heating, decorative outdoor lighting, and existing powerplants. Repeals the incremental pricing program of the Natural Gas Policy Act of 1978.

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1 official file

• Introduced in Senate

  summary · EN · 22 March 1984

  Open at official source

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