Keyspan LNG, LP (Alng)

Third Revised Volume No. 1

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

Original Sheet No. 60 Original Sheet No. 60 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(continued)

 

14. CAPACITY RELEASE (continued)

 

(2) For long term releases (five months or more), offers shall be

tendered by 1:00 p.m. CT four (4) Business days before the award

for long term releases. The Bid Period shall end at 2:00 p.m. CT

on the third business day following such posting or at 2:00 p.m.

CT on any subsequent business 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.

 

(c) Timeline for Non-Standard Releases

 

If the Releasing Customer specifies a bid evaluation methodology

other than highest rate, net revenue or present value, or any

other special terms or conditions, the above timeline shall

apply; provided, however, one additional Business Day will be

added to the evaluation period. Such extended evaluation period

shall cause the gas day to be at least one day later than under

the timeline set forth in Section 14.4(b)(1) or Section

14.4(b)(2).

 

(d) Notice by KLNG. Releasing Customer's Notice, including the

identity of the Releasing Customer, shall be posted on KLNG's

Internet Web site until the expiration of the applicable Bid

Period. At the Releasing Customer's request KLNG may, but shall

not be obligated to take other action to market any capacity

which the Releasing Customer desires to release, and the

Releasing Customer may search for any party to take its capacity.