Rockies Express Pipeline LLC (Entrega)

Second Revised Volume No. 1

Effective Date: 09/01/2007, Docket: CP06-354-002, Status: Effective

Original Sheet No. 149 Original Sheet No. 149 : Effective

GENERAL TERMS AND CONDITIONS

11. IMBALANCES, PURCHASE AND SALE OF GAS AND ACQUISITION OF OFF-SYSTEM

CAPACITY (Contd.)

11.3 CASHOUT PROCEDURES (Contd.)

B. Following any offsetting with other Shippers, a Shipper's

remaining Imbalance will be cashed out based on the

percentage of that Imbalance compared to the total receipts

for that Shipper during the Month. For example, if the

total receipts were 1,000 Dth and the remaining underage

Imbalance after offsetting with other Shippers was 100 Dth,

the total Imbalance Level would be 10%. The first 5% (50

Dth) would be cashed out at 100% of the MIP and the

remaining 50 Dth would be cashed out at 105% of the MIP.

C. The Monthly Index Price (MIP) is based on prices as reported

by Energy Intelligence Group in the publication "Natural Gas

Week." Transporter shall use either the highest weekly

average price or the lowest weekly average price determined

for each Month as the MIP for all monthly Imbalances subject

to cashout hereunder, as described below. The average price

for each week shall be the price for the applicable location

indicated below under the column labeled "$/MMBtu" in the

table entitled "Natural Gas Weekly Spot Prices" of the above

publication (or the superseding reference if the publication

titling is revised). The issues of such publication to be

used in determining each Month's highest and lowest weekly

average prices shall include all issues with publication

dates within the calendar Month in which the Imbalance

occurred, plus the first publication of the next Month after

the Imbalance occurred.

(1) For Gas owed Transporter (negative Imbalances), the

MIP shall be the highest of the weekly average prices

for the applicable location indicated below for the

Month in which the Imbalance occurred.