55-1412. Credit of gross profits of emergency or spot sales of natural gas in interstate commerce to customers; duties of commission.
55-1412
55-1412. Credit of gross profits of emergency or spot sales of naturalgas in interstate commerce to customers; duties of commission.The commission by appropriate action shall prescribe a method by which thegross profits, including transportation charges, derived from sales of naturalgas produced in this state and sold in interstate commerce pursuant to section2.68 of the general policy and interpretations of thefederal energy regulatory commission or section 311 of the natural gas policyact of 1978, or under any similar statutory or regulatory provisions subsequentlyadopted, by public utilities including pipelines subject to the jurisdictionof the commission, or subsidiaries or affiliates of such utilities, arecredited against the bills of such utilities' customers located within thisstate. If such a credit is not already being applied by any such utility,the commission shall require that this be commenced within one hundred twenty(120) days from the effective date of this act.
History: L. 1979, ch. 171, § 12; May 29.