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15 U.S. Code § 717y. Voluntary conversion of natural gas users to heavy fuel oil
(a) Transfer of contractual interests
(1)
In order to facilitate voluntary conversion of facilities from the use of natural gas to the use of heavy petroleum fuel oil, the Commission shall, by rule, provide a procedure for the approval by the Commission of any transfer to any person described in paragraph 2(B)(i), (ii), or (iii) of contractual interests involving the receipt of natural gas described in paragraph 2(A).
(2)
(A) The rule required under paragraph (1) shall apply to—
(i) natural gas—
(I)
received by the user pursuant to a contract entered into before September 1, 1977, not including any renewal or extension thereof entered into on or after such date other than any such extension or renewal pursuant to the exercise by such user of an option to extend or renew such contract;
(II)
other than natural gas the sale for resale or the transportation of which was subject to the jurisdiction of the Federal Power Commission under the Natural Gas Act [15 U.S.C. 717 et seq.] as of September 1, 1977;
(III)
which was used as a fuel in any facility in existence on September 1, 1977.
(ii)
natural gas subject to a prohibition order issued under section 717z of this title.
(B) The rule required under paragraph (1) shall permit the transfer of contractual interests—
(i)
to any interstate pipeline;
(ii)
to any local distribution company served by an interstate pipeline; and
(iii)
to any person served by an interstate pipeline for a high priority use by such person.
(3)
The rule required under paragraph (1) shall provide that any transfer of contractual interests pursuant to such rule shall be under such terms and conditions as the Commission may prescribe. Such rule shall include a requirement for refund of any consideration, received by the person transferring contractual interests pursuant to such rule, to the extent such consideration exceeds the amount by which the costs actually incurred, during the remainder of the period of the contract with respect to which such contractual interests are transferred, in direct association with the use of heavy petroleum fuel oil as a fuel in the applicable facility exceeds the price under such contract for natural gas, subject to such contract, delivered during such period.
(4)
In prescribing the rule required under paragraph (1), and in determining whether to approve any transfer of contractual interests, the Commission shall consider whether such transfer of contractual interests is likely to increase demand for imported refined petroleum products.