To prevent the retroactive application of changes to Trans-Alaska Pipeline Quality Bank valuation methodologies.
Last action on May 13, 2005Referred to the Subcommittee on Energy and Air Quality.
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Summary
Prohibits the Federal Energy Regulatory Commission from approving any retroactive application of TAPS quality bank valuation methodologies when it reviews Trans-Alaska Pipeline carrier tariffs.
Defines such methodologies as valuation methodologies applied for the purpose of establishing monetary adjustments paid by or to shippers of oil on the Trans-Alaska Pipeline through the operation of a quality bank to compensate for differentials in the value of shippers' oil commingled in the pipeline.
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