Bluewater Gas Storage, LLC

Original Volume No. 1

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Effective Date: 12/01/2006, Docket: CP06-351-001, Status: Effective

Original Sheet No. 116 Original Sheet No. 116 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

This allocated daily contractual entitlement shall be used for

purposes of nominations, billing, and if applicable, for overrun

calculations.

 

The MSQ, Maximum Park Quantity or Maximum Loan Quantity that can be

released by a Releasing Customer for an intraday release is limited

to a quantity not in excess of the Releasing Customer's MSQ, Maximum

Park Quantity or Maximum Loan Quantity, less the Releasing

Customer's Storage Inventory or Loan Balance.

 

4.3 Posting and Bidding Timeline. For the Capacity Release

business process timing model, only the following methodologies

shall be supported by BLUEWATER and provided to Releasing Customers

as choices from which they may select and, once chosen, shall be

used in determining the awards from the bid(s) submitted. They are:

1) highest rate, 2) net revenue and 3) present value. Other choices

of bid evaluation methodology (including other Releasing Customer

defined evaluation methodologies) can be accorded similar timeline

evaluation treatment at BLUEWATER's discretion; however, BLUEWATER

is not required to offer other choices or similar timeline treatment

for other choices. Further, BLUEWATER shall not be held to the

timeline specified in Sections 4.3(a) and 4.3(b) below should the

Releasing Customer elect another method of evaluation. Should the

Releasing Customer elect another method of evaluation, the timeline

specified in Section 4.3(c) below shall apply. The proposed

duration of Customer's release determines the minimum bid period for

the Customer's offer pursuant to this Section 4. The Capacity

Release timeline is applicable to all parties involved in the

Capacity Release process; however, it is only applicable if (i) all

information provided by the parties to the transaction is valid and

the Replacement Customer has been determined to be creditworthy

before the capacity release bid is tendered and (ii) there are no

special terms or conditions of the release.

 

The Capacity Release timeline is as follows:

 

(a) For standard releases of less than one (1) year:

 

- Offers shall be tendered by 12:00 p.m. CCT on a Business

Day;

- The bid period shall end at 1:00 p.m. CCT on the same

Business Day or at 1:00 p.m. CCT on any subsequent

Business Day as specified in Releasing Customer's offer,

whichever is elected by Releasing Customer;

- Evaluation period begins at 1:00 p.m. CCT on the Day the

bid period ends, during which contingency is eliminated,

determination of best bid is made, and ties are broken;

- Evaluation period ends and award is posted if no match is

required at 2:00 p.m. CCT the same Day;

- If the Prearranged Replacement Customer's bid is not the

"best bid", BLUEWATER shall allow such Prearranged

Replacement Customer a Matching Period of thirty (30)

minutes from 2:00 p.m. until 2:30 p.m. CCT on the Day

the Bid Period ends, or such later time as specified in

the Releasing Customer's offer, to determine whether to

match the "best bid" and to notify BLUEWATER of its

decision.

- If a match is required, the award will be posted by

3:00 p.m. CCT.