55-1405. Same; limited effect of indefinite escalator clauses; price calculated monthly; exceptions. Notwithstanding the restriction on the operation of indefinite price escalator clauses imposed by K.S.A. 55-1404, after March 1, 1979, such indefinite price escalator clauses in gas purchase contracts subject to this act may be given effect in accordance with their terms to the extent that the price payable under such contracts is not increased above the maximum price such gas would receive if it qualified under section 109(b) of the natural gas policy act of 1978. The maximum price shall be calculated on a monthly basis. Nothing in this section shall be construed to apply to gas produced from new wells, new reservoirs or stripper wells as defined by this act.
History: L. 1979, ch. 171, ยง 5; May 29.
Structure Kansas Statutes
Article 14 - Pricing Of Natural Gas
55-1403 Applicability of act to natural gas purchase contracts.
55-1405 Same; limited effect of indefinite escalator clauses; price calculated monthly; exceptions.
55-1407 Recovery of production and conservation fees and taxes.
55-1408 Voluntary renegotiation of price provisions.
55-1409 Enforcement of act by commission; rules and regulations.
55-1410 Judicial review of commission's actions.
55-1414 Profits of pipelines from certain natural gas sales apportioned to customers.
55-1424 Natural gas purchase contracts; definitions.
55-1425 Same; provision preventing certain taxes from inclusion in purchase price prohibited.
55-1427 Same; act not applicable to direct purchases for irrigation purposes.