Natural Gas Policy Act (NGPA)
The Natural Gas Policy Act broadened federal oversight of natural gas production, attempting to ensure a stable market.
The Natural Gas Policy Act (NGPA) granted the Federal Energy Regulatory Commission (FERC) authority over intrastate and interstate natural gas production. The main goals of the Act are:
- Creating a single national natural gas market;
- Equalizing supply with demand; and
- Allowing market forces to establish the wellhead price of natural gas.