Natural Gas Amendments

Summary

Natural Gas Amendments - Sets forth the definitions of terms used in the Natural Gas Act, including definitions of "Fair market value", "definite pricing clause", and "affiliate". Provides, relating to the rates and charges made by any natural-gas company for the transportation or sale of natural gas, that: (1) the just and reasonable rate for the sale of natural gas first dedicated for sale in interstate commerce on or after the effective date of this Act shall be the fair market value of that gas; (2) if such sale is by a natural gas company to one of its affiliates, the burden of proof of fair market value shall be on the applicant; otherwise, the burden of proof shall be on intervenors in opposition; and (3) the just and reasonable rate for the sale of natural gas delivered pursuant to an existing contract that expires on or after the effective date of this Act shall, upon expiration of such contract, be the rate fixed in the expired contract unless a higher area or individual rate is authorized. States that the just and reasonable rate for sales in interstate commerce for industrial fuel use shall be not less than the fair market value of sales of natural gas to the natural gas company that transports natural gas in interstate commerce and the full cost of transportation allocated to firm customers at the same delivery point or zone.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 21 December 1973

  Open at official source

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