Effect of certain natural gas prices on indefinite price escalator clauses

15 U.S.C. § 3373
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) High-cost natural gasNo 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) Other transactionsNo 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).

Starting a business? Corpus forms LLCs in all 50 states and DC.