(1) Any person operating a public utility subject to the jurisdiction of the Mississippi Public Service Commission under subparagraph (ii) of paragraph (d) of Section 77-3-3, and Section 77-3-5, who violates any provision of any Natural Gas Pipeline Safety Standard adopted both by the United States Department of Transportation, pursuant to the provisions of the Federal Natural Gas Pipeline Safety Act of 1968, and by the commission pursuant to Article 1, Chapter 3, of this title, shall be subject to a civil penalty not to exceed one thousand dollars ($1,000.00), payable to the State of Mississippi for each such violation for each day that such violation persists. The maximum civil penalty shall not exceed two hundred thousand dollars ($200,000.00) for any related series of violations.

(2) Any such civil penalty may be imposed by the chancery court of the county in which the violation occurs or in which the person violating the same resides or has his or its principal place of business, upon complaint of the commission and after opportunity for a hearing thereon. Any such civil penalty may be compromised by the commission, subject to the approval of the court. In determining the amount of such penalty, or the amount agreed upon in compromise, the appropriateness of such penalty to the size of the business of the person charged, the gravity of the violation and the good faith of the person charged in attempting to achieve compliance, after notification of a violation, shall be considered. The amount of such penalty, when finally determined, or the amount agreed upon in compromise, may be deducted from any sums owing by the State of Mississippi to the person charged or may be recovered under judgment of said chancery court, and upon collection shall be paid to the treasury of the State of Mississippi.