Egan Hub Storage, LLC

First Revised Volume No. 1

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Effective Date: 01/01/2009, Docket: RP09-77-000, Status: Effective

Second Revised Sheet No. 114 Second Revised Sheet No. 114

Superseding: First Revised Sheet No. 114

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

4.3 Posting and Bidding Timeline. For the capacity release business process timing

model, only the following methodologies shall be supported by Egan Hub and provided to

Releasing Customers as choices from which they may select and, once chosen, shall be used in

determining the awards from the bid(s) submitted. They are: 1) highest rate, 2) net revenue

and 3) present value. Other choices of bid evaluation methodology (including other Releasing

Customer defined evaluation methodologies) can be accorded similar timeline evaluation

treatment at Egan Hub's discretion. However, Egan Hub is not required to offer other choices

or similar timeline treatment for other choices. Further, Egan Hub shall not be held to the

timeline specified in Sections 4.3(a) and 4.3(b) below should the Releasing Shipper elect

another method of evaluation; the timeline specified in Section 4.3(c) below shall apply. The

proposed duration of Customer's release determines the minimum bid period for the Customer's

offer pursuant to this Section 4. The Capacity Release timeline is applicable to all parties

involved in the Capacity Release process; however, it is only applicable if (i) all information

provided by the parties to the transaction is valid and the Replacement Customer has been

determined to be credit worthy before the capacity release bid is tendered and (ii) there are

no special terms or conditions of the release. Egan Hub shall post offers and bids, including

pre-arranged deals, upon receipt; provided, however, offers and bids must be complete before

posting. Only posted offers and bids will be available electronically. If a Releasing

Customer requests a later posting time, Egan Hub shall support such request insofar as it

comports with the standard timeline. A Releasing Customer cannot specify an extension of the

original bid period or the pre-arranged deal match period without posting a new release.

 

The Capacity Release timeline is as follows:

 

(a) For standard releases of one (1) year or less:

- Offers shall be tendered by 12:00 p.m. CT on a Business Day;

- The bid period shall end at 1:00 p.m. CT on the same Business Day or at 1:00

p.m. CT on any subsequent Business Day as specified in Releasing Customer's

offer, whichever is elected by Releasing Customer;

- Evaluation period begins at 1:00 p.m. CT on the day the bid period ends, during

which contingency is eliminated, determination of best bid is made, and ties

are broken;

- Evaluation period ends and award is posted if no match is required at 2:00 p.m.

CT the same day;

- If the Prearranged Customer's bid is not the "best bid", Egan Hub shall allow

such Prearranged Customer a Matching Period of thirty (30) minutes from 2:00

P.M. CT until 2:30 P.M. CT on the day the Bid Period ends, or such later time

as specified in the Releasing Customer's offer, to determine whether to match

the "best bid" and to notify Egan Hub of its decision.

- If a match is required, the award will be posted by 3:00 p.m. CT.

 

Egan Hub will issue a contract within one hour of the award posting (with a new

contract number, when applicable). Nominations for Gas flow are possible beginning

at the next available nomination cycle for the effective date of the contract.

Such nominations will be processed in accordance with the nomination and scheduling

requirements of Section 8 of the General Terms and Conditions; however, in no

circumstance will Gas flow prior to the effective date of the release as specified

in Releasing Customer's offer.