Federal Power Commission

The regulatory agency created by the Natural Gas Act was the Federal Power Commission (FPC). The original FPC was charged with a number of tasks:

Regulate natural gas in interstate commerce.
Promote the conservation of natural gas resources.
Set out a uniform standard of accounting for interstate pipelines.
Grant Certificates of Public Convenience and Necessity that would ensure that construction of pipeline facilities was always in the public interest.
Require pipelines to provide service to local distribution companies.
Authorize rates and tariffs and standardize contracts used for the sale and transportation of natural gas.