Partial deregulation of natural gas.
Congress enacted the Natural Gas Policy Act (NGPA) of 1977 to give gas producers a greater incentive for investing in costly new exploration by permitting them to charge significantly more for any fuel extracted from these operations. Until Jan. 1, NGPA set a ceiling on the wellhead price of more than 20 natural gas categories. Decontrol allows the price of interstate-pipeline supplied gas in several categories -- mostly "new" gas, from wells drilled after April 20, 1977 -- to fluctuate according to market conditions or contract provisions.
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|Date:||Jan 26, 1985|
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