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EMD-80-53 1 (1980-07-25)

handle is hein.gao/gaobabauo0001 and id is 1 raw text is: BY THE COMPTROLLER GENERAL Report To The Congress OF THE UNITED STATES Guidance Needed On Use Of Natural Gas Price Escalator Clauses Congressional intent has been unclear con- cerning the use of price escalator clauses in existing natural gas contracts to obtain Natural Gas Policy Act of 1978 prices. In December 1978, the Federal Energy Regulatory Com- mission issued interim regulations disallowing the use of such clauses. Subsequently, the Commission issued several orders, one of which reversed the original decision concern- ing these clauses. After the reversal, affected parties petitioned the courts to review the legality of these actions. The Commission should establish a system to monitor the results of its price escalator clause decisions. In future situations involving energy issues of national importance, it should seek clarification of congressional intent when ap- propriate and analyze economic impacts before making decisions. The Congress should consider amending the Natural Gas Policy Act of 1978 to provide guidance on the price escalator clause issue. D - 112868 00 EMD-80-53 flaC'V ' JULY 25, 1980

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