Chandeleur Pipe Line Company

Second Revised Volume No. 1

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Effective Date: 02/01/2003, Docket: RP03-220-000, Status: Effective

Third Revised Sheet No. 33 Third Revised Sheet No. 33 : Effective

Superseding: Second Revised Sheet No. 33

GENERAL TERMS

AND CONDITIONS

 

7.0 FIRM CAPACITY RELEASE UNDER ORDER NO. 636 (Cont'd)

 

7.1 General Requirements (cont'd)

 

(e) Releasing and potential Replacement Shippers have

the right to withdraw capacity releases or bids

for capacity prior to the close of the specified

bidding period when:

- the Releasing Shipper's unanticipated

circumstances justify; and,

- no minimum bid has been made; or,

- the proposed Replacement Shipper's needs for

capacity change under circumstances it could

not anticipate at the time it submitted its bid.

 

A Releasing Shipper's proposed released capacity

offer is binding until written or EDI notice of

withdrawal is received by Chandeleur. Such

capacity release offer cannot be withdrawn because

the Releasing Shipper is not satisfied with the

bids received or the party submitting the bid, as

long as one bid proposes to match or exceed the

minimum conditions specified in the notice of

release.

 

A Replacement Shipper's bid for released capacity

is binding until written or EDI notice of

withdrawal is received by Chandeleur. Such bid may

not be withdrawn for the purpose of submitting a

lower bid for the same package of capacity, in

whole or in part. However, bid withdrawals will be

permitted when the withdrawal is for the purpose

of submitting a higher bid for the same package of

capacity, in whole or in part. Bids cannot be

withdrawn after the specified bidding period ends.

 

(f) Releasing Shippers may consider contingent bids as

long as the release notice specifies the economic

criteria by which such bids will be evaluated.

Such evaluation is for the purpose of 1.)

determining which bid is the best offer, and 2.)

whether and for what time period the second best

bidder will be obligated to acquire the capacity

should the winning bidder exercise its option not

to take the capacity.