Effect of certain natural gas prices on indefinite price escalator clauses

1. Law
2. USC 15
3. Commerce And Trade
4. NATURAL GAS POLICY
5. ADDITIONAL AUTHORITIES AND REQUIREMENTS
6. Other Authorities and Requirements
7. Effect of certain natural gas prices on indefinite price escalator clauses

§3373. Effect of certain natural gas prices on indefinite price escalator clauses

(a) High-cost natural gas

No price paid in any first sale of high-cost natural gas (as defined in section 3317(c) ¹ of this title, as such section was in effect on January 1, 1989) may be taken into account in applying any indefinite price escalator clause (as defined in section 3315(b)(3)(B) ¹ of this title, as such section was in effect on January 1, 1989) with respect to any first sale of any natural gas other than high-cost natural gas (as defined in section 3317(c) ¹ of this title, as such section was in effect on January 1, 1989).

(b) Other transactions

No price paid-

(1) in any sale authorized under section 3362(a) of this title, or

(2) pursuant to any order issued under section 3363(b), (c), (d), or (g) of this title,

may be taken into account in applying any indefinite price escalator clause (as defined in section 3315(b)(3)(B) ¹ of this title, as such section was in effect on January 1, 1989).

( Pub. L. 95–621, title III, §313, Nov. 9, 1978, 92 Stat. 3392 ; Pub. L. 101–60, §3(b)(3), July 26, 1989, 103 Stat. 159 .)

References in Text

Sections 3315 and 3317 of this title, referred to in text, were repealed effective Jan. 1, 1993, by Pub. L. 101–60, §2(b), July 26, 1989, 103 Stat. 158 .

Amendments

1989-Pub. L. 101–60 inserted ", as such section was in effect on January 1, 1989" in four places.

Effective Date of 1989 Amendment

Amendment by Pub. L. 101–60 effective Jan. 1, 1993, see section 3(b) of Pub. L. 101–60, set out as a note under section 3372 of this title.

¹ See References in Text note below.

Download our app to see the most-to-date content.