NGC Corporation; Proposed Consent Agreement With Analysis To Aid Public Comment

Resumo

In settlement of alleged violations of federal law prohibiting unfair or deceptive acts or practices and unfair methods of competition, this consent agreement, accepted subject to final Commission approval, would require, among other things, the Houston, Texas-based corporation to resign as operator of two Mont Belvieu, Texas natural gas fractionation plants in which it has an interest. The agreement resolves charges that NGC's acquisition of certain natural gas transportation and processing assets from Chevron Corporation would have left only two companies operating four fractionating plants and would have extended NGC's control to three of those plants. The Commission alleged that the acquisition would substantially reduce competition in violation of federal antitrust laws and, ultimately, could have led to higher fees for fractionating of natural gas liquids.