Page:United States Statutes at Large Volume 92 Part 3.djvu/758

 92 STAT. 3390

PUBLIC LAW 95-621—NOV. 9, 1978 (C) ADJUSTMENT.—

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(i) APPLICATION.—This subparagraph shall apply in any case in which, in order to deliver any volume of natural gas pursuant to any sale authorized under paragraph (1), any intrastate pipeline acquires quantities of natural gas under any existing contract, if— (I) such intrastate pipeline acquires any volume of natural gas under such contract in excess of that which such pipeline would otherwise have acquired; and ( II) the price paid for such additional volume of natural gas acquired under such contract is greater than such pipeline's weighted average acquisition cost of natural gas, computed without regard to the acquisition of such additional volume of natural gas.

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(ii) COMMISSION ADJUSTMENT.—In any case to which

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this subparagraph applies, the Commission shall permit an adjustment to the maximum fair and equitable price provided under subparagraph (A) to increase the revenue to the intrastate pipeline under such sale by an amount determined by the Commission to be adequate to offset the additional cost incurred by such pipeline due to any increase in such pipeline's weighted average acquisition cost of natural gas.

(3) L I M I T A T I O N. — (A) TWO-YEAR DURATION.—No authorization of any sale

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(or any extension thereof) under paragraph (1) may be for a period exceeding two years. (B) EXTENSION.—Any authorization of any sale under paragraph (1), and any extension of any such authorization under this subparagraph, may be extended by the Commission if such extension satisfies the requirements of this subsection. (4) ADEQUACY o r SERVICE TO INTRASTATE CUSTOMERS.—Any sale

authorized under paragraph (1) shall be subject to interruption to the extent that natural gas subject to such sale is required to enable the intrastate pipeline involved to provide adequate service to such pipeline's customers at the time of such sale. (5) PROCEDURAL REQUIREMENTS.—

(A) AFFIDAVIT.—Any application for authorization of any sale under paragraph (1) shall be accompanied by an affidavit filed by the intrastate pipeline involved and setting forth— (i) the identity of the interstate pipeline or local distribution company involved; (ii) each point of delivery of the natural gas from the intrastate pipeline; (iii) the estimated total and daily volumes of natural gas subject to such sale; (iv) the price or prices of such volumes; and (v) such other information as the Commission may, by rule, require. (B)

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VERIFICATION OF COMPLIANCE.—Any application

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authorization of any sale under paragraph (1) shall be accompanied by a statement by the intrastate pipeline involved verifying by oath or affirmation that such sale, if authorized, would comply with all requirements applicable to such sale

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