Algonquin Gas Transmission, LLC

Fifth Revised Volume No. 1

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

Fifth Revised Sheet No. 550 Fifth Revised Sheet No. 550

Superseding: Fourth Revised Sheet No. 550

 

GENERAL TERMS AND CONDITIONS

(continued)

 

14. CAPACITY RELEASE (continued)

 

(e) Algonquin shall post notice of transactions under Section 14.10 on the LINK®

System and by electronic data interchange in accordance with the timelines

specified in Section 14.10(a) for notice purposes only, and such posting shall

trigger no right in any other party to bid.

 

14.11 Compensation. If Algonquin and a Releasing Customer so agree, Algonquin may receive a

mutually agreeable fee for taking action to market released capacity other than merely

posting the notice of availability. Such fee may be deducted from the credit due

Releasing Customer under Section 14.7.

 

14.12 Algonquin's Rights to Terminate Temporary Capacity Releases. In the event of a

temporary release for which (1) Algonquin has given notice of termination of the

Releasing Customer's contract because the Releasing Customer no longer satisfies

Algonquin's credit requirements as outlined in Sections 3.1 and 3.2 of Algonquin's

General Terms and Conditions and (2) the reservation charge specified in the

effective Addendum to the Replacement or Prearranged Customer's Capacity Release

Umbrella Agreement is less than the level of the reservation charge which the

Releasing Customer was obligated to pay Algonquin (or, if Releasing Customer is

paying a Negotiated Rate, the sum of all reservation-type and commodity-type

charges), then Algonquin shall be entitled to terminate the Addendum, upon 30 Days'

written notice to the Replacement or Prearranged Customer, unless the Replacement or

Prearranged Customer agrees prior to the end of said 30-Day notice period to pay for

the remainder of the term of the Addendum one of the following: (i) the reservation

and commodity charges at levels which the Releasing Customer was obligated to pay

Algonquin, (ii) the applicable maximum tariff rate, or (iii) such rate as mutually

agreed to by Algonquin and Replacement or Prearranged Customer. The Replacement or

Prearranged Customer may elect to pay the lesser of the foregoing three options. If

the subject release was a segmented release, Algonquin shall not be required to

permit Replacement or Prearranged Customer to retain its geographic segment of

capacity, and may require Replacement or Prearranged Customer to pay for the full

capacity path of the defaulting Releasing Customer at the lower of the rate the

defaulting Releasing Customer paid or the applicable maximum tariff rate.

Algonquin's right to terminate the Addendum is subject to Algonquin providing written

notice of termination to the Replacement or Prearranged Customer within 60 Days of

the determination by Algonquin that the Releasing Customer no longer satisfies

Algonquin's credit requirements. Termination of the Addendum shall not occur prior

to termination of the Releasing Customer's contract.