15 USC 717c-1

Page 1033

TITLE 15—COMMERCE AND TRADE

before it and decide the same as speedily as possible.
(f) Storage services
(1) In exercising its authority under this chapter or the Natural Gas Policy Act of 1978 (15
U.S.C. 3301 et seq.), the Commission may authorize a natural gas company (or any person that
will be a natural gas company on completion of
any proposed construction) to provide storage
and storage-related services at market-based
rates for new storage capacity related to a specific facility placed in service after August 8,
2005, notwithstanding the fact that the company
is unable to demonstrate that the company
lacks market power, if the Commission determines that—
(A) market-based rates are in the public interest and necessary to encourage the construction of the storage capacity in the area
needing storage services; and
(B) customers are adequately protected.
(2) The Commission shall ensure that reasonable terms and conditions are in place to protect
consumers.
(3) If the Commission authorizes a natural gas
company to charge market-based rates under
this subsection, the Commission shall review periodically whether the market-based rate is just,
reasonable, and not unduly discriminatory or
preferential.
(June 21, 1938, ch. 556, § 4, 52 Stat. 822; Pub. L.
87–454, May 21, 1962, 76 Stat. 72; Pub. L. 109–58,
title III, § 312, Aug. 8, 2005, 119 Stat. 688.)
REFERENCES IN TEXT
The Natural Gas Policy Act of 1978, referred to in subsec. (f)(1), is Pub. L. 95–621, Nov. 9, 1978, 92 Stat. 3350, as
amended, which is classified generally to chapter 60
(§ 3301 et seq.) of this title. For complete classification
of this Act to the Code, see Short Title note set out
under section 3301 of this title and Tables.
AMENDMENTS
2005—Subsec. (f). Pub. L. 109–58 added subsec. (f).
1962—Subsec. (e). Pub. L. 87–454 inserted ‘‘or gas distributing company’’ after ‘‘State commission’’, and
struck out proviso which denied authority to the Commission to suspend the rate, charge, classification, or
service for the sale of natural gas for resale for industrial use only.
ADVANCE RECOVERY OF EXPENSES INCURRED BY NATURAL GAS COMPANIES FOR NATURAL GAS RESEARCH,
DEVELOPMENT, AND DEMONSTRATION PROJECTS
Pub. L. 102–104, title III, Aug. 17, 1991, 105 Stat. 531,
authorized Federal Energy Regulatory Commission,
pursuant to this section, to allow recovery, in advance,
of expenses by natural-gas companies for research, development and demonstration activities by Gas Research Institute for projects on use of natural gas in
motor vehicles and on use of natural gas to control
emissions from combustion of other fuels, subject to
Commission finding that benefits, including environmental benefits, to both existing and future ratepayers
resulting from such activities exceed all direct costs to
both existing and future ratepayers, prior to repeal by
Pub. L. 102–486, title IV, § 408(c), Oct. 24, 1992, 106 Stat.
2882.

§ 717c–1. Prohibition on market manipulation
It shall be unlawful for any entity, directly or
indirectly, to use or employ, in connection with

§ 717e

the purchase or sale of natural gas or the purchase or sale of transportation services subject
to the jurisdiction of the Commission, any manipulative or deceptive device or contrivance (as
those terms are used in section 78j(b) of this
title) in contravention of such rules and regulations as the Commission may prescribe as necessary in the public interest or for the protection of natural gas ratepayers. Nothing in this
section shall be construed to create a private
right of action.
(June 21, 1938, ch. 556, § 4A, as added Pub. L.
109–58, title III, § 315, Aug. 8, 2005, 119 Stat. 691.)
§ 717d. Fixing rates and charges; determination
of cost of production or transportation
(a) Decreases in rates
Whenever the Commission, after a hearing had
upon its own motion or upon complaint of any
State, municipality, State commission, or gas
distributing company, shall find that any rate,
charge, or classification demanded, observed,
charged, or collected by any natural-gas company in connection with any transportation or
sale of natural gas, subject to the jurisdiction of
the Commission, or that any rule, regulation,
practice, or contract affecting such rate, charge,
or classification is unjust, unreasonable, unduly
discriminatory, or preferential, the Commission
shall determine the just and reasonable rate,
charge, classification, rule, regulation, practice,
or contract to be thereafter observed and in
force, and shall fix the same by order: Provided,
however, That the Commission shall have no
power to order any increase in any rate contained in the currently effective schedule of
such natural gas company on file with the Commission, unless such increase is in accordance
with a new schedule filed by such natural gas
company; but the Commission may order a decrease where existing rates are unjust, unduly
discriminatory, preferential, otherwise unlawful, or are not the lowest reasonable rates.
(b) Costs of production and transportation
The Commission upon its own motion, or upon
the request of any State commission, whenever
it can do so without prejudice to the efficient
and proper conduct of its affairs, may investigate and determine the cost of the production
or transportation of natural gas by a naturalgas company in cases where the Commission has
no authority to establish a rate governing the
transportation or sale of such natural gas.
(June 21, 1938, ch. 556, § 5, 52 Stat. 823.)
§ 717e. Ascertainment of cost of property
(a) Cost of property
The Commission may investigate and ascertain the actual legitimate cost of the property
of every natural-gas company, the depreciation
therein, and, when found necessary for ratemaking purposes, other facts which bear on the
determination of such cost or depreciation and
the fair value of such property.
(b) Inventory of property; statements of costs
Every natural-gas company upon request shall
file with the Commission an inventory of all or