I. The term "public utility" shall not include any corporation, company, association, joint stock association, partnership and person, their lessee, trustee or receiver appointed by any court, or assignee, which provides, sells, delivers, or stores liquefied petroleum gas in cylinders or tanks, or who distributes liquefied petroleum gas through underground distribution systems, except for those systems regulated by the commission as of May 1, 1997. II. Nothing in this section prevents the commission from regulating the rates and charges of the distributed propane operations of a regulated natural gas utility when those activities are provided as a temporary alternative to the provision of natural gas, and when the rates and charges are based on the cost of service of the regulated public utility. III. Nothing in this section prevents the department of energy from monitoring or enforcing the provisions of federal pipeline safety standards relative to liquefied petroleum gas systems pursuant to the Natural Gas Pipeline Safety Act.
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