Algonquin Gas Transmission, LLC

Fifth Revised Volume No. 1

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Effective Date: 11/30/2009, Docket: RP10-77-000, Status: Effective

Second Revised Sheet No. 535 Second Revised Sheet No. 535

Superseding: First Revised Sheet No. 535

GENERAL TERMS AND CONDITIONS

(continued)

14. CAPACITY RELEASE (continued)

(1) For short term releases (one 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 Notice, whichever is elected by Releasing Customer.

- The evaluation period begins at 1:00 p.m. CT on the Day the Bid Period

ends, during which contingency is eliminated, the determination of the best

bid is made, and ties are broken.

- The evaluation period ends and award is posted if no match is required at

2:00 p.m. CT the Day the bid is evaluated.

- If the Prearranged Customer's bid is not the "best bid," Algonquin shall

allow such Prearranged Customer a Matching Period of thirty (30) minutes

from 2:00 p.m. CT to 2:30 p.m. CT on the Day the Bid Period ends to

determine whether to match the "best bid" and to notify Algonquin of its

decision.

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

- Algonquin 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

Sections 22 and 23 of the General Terms and Conditions; however, in no

circumstances will gas flow prior to the effective date of the release as

specified in Releasing Customer's Notice.

(2) For long term releases (more than one year),

- offers shall be tendered by 12:00 p.m. CT four (4) Business Days before the

award.

- The Bid Period shall end at 1:00 p.m. CT on the Business Day before timely

nominations are due (open season is three Business Days) or at 1:00 p.m. CT

on any subsequent Business Day as specified in Releasing Customer's Notice,

whichever is elected by Releasing Customer.

- The evaluation period begins at 1:00 p.m. CT on the Day the Bid Period

ends, during which contingency is eliminated, the determination of the best

bid is made, and ties are broken.

- The 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," Algonquin shall

allow such Prearranged Customer a Matching Period of thirty (30) minutes

from 2:00 p.m. CT to 2:30 p.m. CT on the Day the Bid Period ends to

determine whether to match the "best bid" and to notify Algonquin of its

decision.

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

- Algonquin 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

Sections 22 and 23 of the General Terms and Conditions; however, in no

circumstances will gas flow prior to the effective date of the release as

specified in Releasing Customer's Notice.