Keyspan LNG, LP (Alng)

Third Revised Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 01/27/2003, Docket: RP03-241-000, Status: Effective

Original Sheet No. 59 Original Sheet No. 59 : Effective

 

Joseph A. Vaszily, Vice President

 

GENERAL TERMS AND CONDITIONS

(continued)

 

14. CAPACITY RELEASE (continued)

 

(10)the Business Day on which the Bid Period will expire, if other

than that determined in Section 14.4(b); and

(11)the expiration of the period within which the Proposed Customer

may match the best bid, if other than that determined in

Section 14.5(c). Releasing Customer shall not be allowed to

specify an extension of the original Bid Period or the

Prearranged deal Matching Period without posting a new

release.

 

(b) Posting Requirements and Bid Periods for Standard Releases Subject to

Bidding. The Capacity Release timeline is applicable to all parties

involved in the Capacity Release process; however, it is only

applicable if 1) 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

2) there are no special terms or conditions of the release. The term

"Bid Period" shall mean the period during which bids may be

submitted, commencing upon the posting of Releasing Customer's Notice

and ending at the time specified below.

 

(1) For short term releases (less than five months), offers should be

tendered by 1:00 p.m. CT on the day before nominations are due.

The Bid Period shall end no later than 2:00 p.m. CT on the same

day or at 2:00 p.m. CT on any subsequent day as specified in

Customer's Notice, whichever is elected by Customer. The

evaluation period begins at 2:00 p.m. CT during which contingency

is eliminated, the determination of the best bid is made, and

ties are broken. The evaluation period ends at 3:15 p.m. CT. The

match or award is communicated by 3:15 p.m. CT. If the

Prearranged Customer's bid is not the "best bid," KLNG shall

allow such Prearranged Customer a Matching Period of forty-five

(45) minutes from 3:15 p.m. CT to 4:00 p.m. CT on the day the Bid

Period ends, or such later time as permitted by Customer's

Notice, to determine whether to match the "best bid" and to

notify KLNG of its decision. KLNG will finalize all contractual

arrangements by 5:00 p.m. CT on the day the Matching Period ends,

or if no Matching Period, on the day the Bid Period ends or such

later time as permitted by Customer's Notice.