Section 15503 - Authority and criteria: rates, classifications, rules, and practices prescribed by Board(a) IN GENERAL.-When the Board, after a full hearing, decides that a rate charged or collected by a pipeline carrier for transportation subject to this part, or that a classification, rule, or practice of that carrier, does or will violate this part, the Board may prescribe the rate, classification, rule, or practice to be followed. In prescribing the rate, classification, rule, or practice, the Board may utilize rate reasonableness procedures that provide an effective simulation of a market-based price for a stand alone pipeline. The Board may order the carrier to stop the violation. When a rate, classification, rule, or practice is prescribed under this subsection, the affected carrier may not publish, charge, or collect a different rate and shall adopt the classification and observe the rule or practice prescribed by the Board.(b) FACTORS TO CONSIDER.-When prescribing a rate, classification, rule, or practice for transportation or service by a pipeline carrier, the Board shall consider, among other factors-(1) the effect of the prescribed rate, classification, rule, or practice on the movement of traffic by that carrier;(2) the need for revenues that are sufficient, under honest, economical, and efficient management, to let the carrier provide that transportation or service; and(3) the availability of other economic transportation alternatives.(c) PROCEEDING.-The Board may begin a proceeding under this section on complaint. A complaint under this section must contain a full statement of the facts and the reasons for the complaint and must be made under oath.Added Pub. L. 104-88, title I, §106(a), Dec. 29, 1995, 109 Stat. 924.EDITORIAL NOTES
PRIOR PROVISIONSProvisions similar to those in this section were contained in section 10704 of this title prior to the general amendment of this subtitle by Pub. L. 104-88, §102(a).
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective Jan. 1, 1996, except as otherwise provided in Pub. L. 104-88 see section 2 of Pub. L. 104-88 set out as a note under section 1301 of this title.