§3373 — Title 15 Commerce and Trade | U.S. Code

Summary

You cannot use the price paid in any first sale of high-cost natural gas, as that term was defined on January 1, 1989, to apply an indefinite price escalator clause (a contract term that automatically raises prices) to any first sale of other natural gas. Also, prices paid in sales allowed by certain statutory authorizations or under certain agency orders cannot be used for those escalator clauses either.

Title 15, §3373

Commerce and Trade — Source: USLM XML via OLRC

(a)No price paid in any first sale of high-cost natural gas (as defined in section 3317(c) 11 See References in Text note below. 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)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,

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 3315 and 3317 of this title, referred to in text, were repealed effective Jan. 1, 1993, by Pub.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.

Statutory Notes and Related Subsidiaries

Effective Date

of 1989 AmendmentAmendment 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.

§3373 Effect of Certain Natural Gas Prices on Indefinite Price Escalator Clauses