Distribution, Storage, and Sale of Gas: Provide for Deregulation of Natural Gas Services Upon Findings by the Public Service Commission; Provide Agency Approval of Capacity Supply Plans; Establish Obligations of an Electing Distribution Company

The Act allows for deregulation of the natural gas industry if certain conditions are met. These conditions are that thirty-three percent of the market must be served by marketers of gas, eighteen percent of which must be served by at least five marketers that are not affiliated with the distribution company given a monopoly over the distribution of natural gas. Under these conditions, the market is deemed to be competitive and consumers of gas will be notified that they should choose a marketer to provide gas service for them. The Public Service Commission will no longer set the rates for natural gas; the marketers will price the gas themselves. The Act provides that the Public Service Commission will continue to oversee the industry, with the power to discontinue the deregulation program if market conditions are unable to keep the price of natural gas in check.