PUBLIC LAW 109–58—AUG. 8, 2005
119 STAT. 691
(1) NATURAL GAS ACT.—The Natural Gas Act (15 U.S.C. 717 et seq.) is amended— (A) by redesignating sections 22 through 24 as sections 24 through 26, respectively; and (B) by inserting after section 21 (15 U.S.C. 717t) the following: ‘‘CIVIL
15 USC 717u–717w.
PENALTY AUTHORITY
‘‘SEC. 22. (a) Any person that violates this Act, or any rule, regulation, restriction, condition, or order made or imposed by the Commission under authority of this Act, shall be subject to a civil penalty of not more than $1,000,000 per day per violation for as long as the violation continues. ‘‘(b) The penalty shall be assessed by the Commission after notice and opportunity for public hearing. ‘‘(c) In determining the amount of a proposed penalty, the Commission shall take into consideration the nature and seriousness of the violation and the efforts to remedy the violation.’’. (2) NATURAL GAS POLICY ACT OF 1978.—Section 504(b)(6)(A) of the Natural Gas Policy Act of 1978 (15 U.S.C. 3414(b)(6)(A)) is amended— (A) in clause (i), by striking ‘‘$5,000’’ and inserting ‘‘$1,000,000’’; and (B) in clause (ii), by striking ‘‘$25,000’’ and inserting ‘‘$1,000,000’’.
15 USC 717t–1.
SEC. 315. MARKET MANIPULATION.
The Natural Gas Act is amended by inserting after section 4 (15 U.S.C. 717c) the following: ‘‘PROHIBITION
ON MARKET MANIPULATION
‘‘SEC. 4A. It shall be unlawful for any entity, directly or indirectly, to use or employ, in connection with 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 10(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78j(b))) 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.’’.
15 USC 717c–1.
SEC. 316. NATURAL GAS MARKET TRANSPARENCY RULES.
The Natural Gas Act (15 U.S.C. 717 et seq.) is amended by inserting after section 22 the following: ‘‘NATURAL
GAS MARKET TRANSPARENCY RULES
‘‘SEC. 23. (a)(1) The Commission is directed to facilitate price transparency in markets for the sale or transportation of physical natural gas in interstate commerce, having due regard for the public interest, the integrity of those markets, fair competition, and the protection of consumers. ‘‘(2) The Commission may prescribe such rules as the Commission determines necessary and appropriate to carry out the purposes of this section. The rules shall provide for the dissemination, on a timely basis, of information about the availability and prices
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15 USC 717t–2.
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