Price Competitive Sale Law and Legal Definition
According to 10 CFR 625.2 (d) [Title 10 Energy; Chapter II Department of Energy; Subchapter I Sales Regulation; Part 625 Price Competitive Sale of Strategic Petroleum Reserve Petroleum], a price competitive sale of SPR petroleum (Strategic Petroleum Reserve) is “one in which contract awards are made to those responsive, responsible persons offering the highest prices; sales conducted pursuant to rules adopted under section 161(e) of the Energy Policy and Conservation Act (EPCA), Pub. L. 94-163 (42 U.S.C. 6201 et seq.), are not price competitive sales.”
