Natural gas derived from new technologies -- Long-term contracts.
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(1) As used in this section:
(a) "Coal-to-liquid" means the process of converting coal into a liquid synthetic fuel.
(b) "Long-term contract" means a contract greater than five years in duration, but no greater than 10 years in duration.
(c) "Oil shale" means a group of fine black to dark brown shales containing bituminous material that yields petroleum upon distillation.
(d) "Tar sands" means impregnated sands that yield mixtures of liquid hydrocarbon and require further processing other than mechanical blending before becoming finished petroleum products.
(2) The commission shall approve a long-term contract for the sale of natural gas derived from coal-to-liquid, oil shale, or tar sands technology to a utility if the commission considers the contract prudent.