Nautilus Pipeline Company, LLC

Original Volume No. 1

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Effective Date: 06/01/2000, Docket: RP00-270-000, Status: Effective

Third Revised Sheet No. 191 Third Revised Sheet No. 191 : Effective

Superseding: Second Revised Sheet No. 191

GENERAL TERMS AND CONDITIONS

 

 

22. SHIPPERS' RELEASE OF FIRM CAPACITY con't

 

specified in the offer by the Releasing Shipper.

The best bid as determined herein or pursuant to

the objective criteria posted by the Releasing

Shipper shall be subject to the rights of a

prearranged bidder to match the bid in accordance

with Section 22.7 above. In the event two or more

bids are equivalent, they will be subject to the

outcome of the tie breaker stipulated in the

Releasing Shipper's offer as explained in

subsection 22.9(c) below.

 

(c) If there is a tie for the best bid, and there is

no prearranged bidder who has agreed to match the

best bid, the winning bid shall be determined by

applying the tie breaker stipulated in the

Releasing Shipper's offer. The Releasing Shipper

may specify one of the following tie breakers or a

different tie breaker so long as it is objective,

nondiscriminatory and can be applied by

Transporter. If the Releasing Shipper fails to

specify a tie breaker, Transporter shall apply the

following tie breakers in the order shown, if

necessary.

 

(1) The bid generating the greatest present value

of revenues.

 

(2) The bid submitted first in time as

established by the Transporter's electronic

date and time stamp.

 

(d) If there are multiple bids meeting minimum

conditions, Transporter shall award the bids, best

bid first, until all offered capacity is awarded.

 

(e) Upon completion of the best bid determination, the

party submitting the best bid shall be notified by

Transporter through its Interactive Internet

Website. Transporter shall further notify all

bidders through its Interactive Internet Website

that a best bid has been