1. (a) The general assembly makes the following findings:

   1. (1) The furnishing of reliable supplies of reasonably priced natural gas for sales to retail customers is essential for the well being of the people of Indiana. Natural gas prices are volatile, and energy utilities have been unable to mitigate completely the effects of the volatility.
   2. (2) Long term contracts for the purchase of SNG between the authority and SNG producers will enhance the receipt of federal incentives for the development, construction, and financing of new coal gasification facilities in Indiana.
   3. (3) The authority's participation in and oversight of the purchase, sale, and delivery of SNG to retail end use customers is critical to obtain low cost financing for the construction of new coal gasification facilities.
   4. (4) Obtaining low cost financing for the construction of new coal gasification facilities is necessary to allow retail end use customers to enjoy the benefits of a reliable, reasonably priced, and long term energy supply.

2. (b) In addition to the findings set forth in subsection (a), the general assembly makes the following findings:

   1. (1) With respect to pending litigation concerning contracts entered into under this chapter, the general assembly defers to the constitutional role and independence of the judicial branch.
   2. (2) The general assembly recognizes the expertise and independence of the commission in matters concerning Indiana's natural gas ratepayers.
   3. (3) Legislative power includes the power to amend and repeal existing laws. The legislature has no power to enact a law or to make a contract or arrangement that in any way surrenders or abridges this legislative power. The act of one (1) legislature is not binding upon a future legislature.
   4. (4) An action by a general assembly, including the enactment of legislation, to protect the public interest is a proper exercise of the police power and is not intended to impair a long term contract for the purchase of SNG.
   5. (5) New discoveries of natural gas supplies and development of advanced drilling techniques may affect the determination of whether a long term contract for the purchase of SNG is in the public interest.
   6. (6) Realizing savings at intervals during the term of a contract for the purchase of SNG protects retail end use customers and serves the public interest.

As added by P.L.2-2009, SEC.2. Amended by P.L.228-2013, SEC.4.