Columbia Gulf Transmission Company

Second Revised Volume No. 1

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Effective Date: 02/26/2009, Docket: RP09-275-000, Status: Effective

Tenth Revised Sheet No. 194 Tenth Revised Sheet No. 194

Superseding: Ninth Revised Sheet No. 194

GENERAL TERMS AND CONDITIONS (Continued)

(f) Bids are binding, other than contingent bids, until written or electronic withdrawal is

received. Bids may be withdrawn before the close of the bidding period. Any bidder that withdraws its bid

for released capacity may not, within that same bidding period, submit a bid at a lower rate for any portion

of that same capacity.

(g) Where higher bids are received for capacity that Releasor proposes to release under a

prepackaged arrangement that is subject to competitive bidding (including prepackaged arrangements for 31

days or less for which Releasor requests competitive bidding), the Replacement Shipper designated by

Releasor (designated Replacement Shipper) shall be notified by Transporter and shall exercise its right to

match the highest competing bid in accordance with the Capacity Release timeline under Section 14.(c) above.

A Releasor shall not be able to specify an extension of the original pre-arranged match period without

posting a new release.

14.4 Evaluation of Bids and Assigning Service Rights.

(a) Transporter shall perform the evaluation of bids in accordance with the criteria specified in

the Release Notice and shall determine which, if any, bids to accept.

(b) In the absence of any such Releasor-developed alternative criteria to the contrary, as

specified in Releasor's Release Notice, bids shall be evaluated and rights to released capacity assigned by

Transporter in accordance with the bid evaluation criteria referenced at Section 14.1(c).

(c) Where Releasor has posted a prepackaged arrangement that is subject to competitive bidding

(including prepackaged arrangements for 31 days or less for which the Releasor requests competitive

bidding), the designated Replacement Shipper under that arrangement will be awarded the capacity if, within

the time limits specified in Section 14.3(h) immediately above, that designated Replacement Shipper matches

the competing bid(s) offering the highest economic value, as calculated in accordance with the bid

evaluation criteria set forth in Section 14.1(c) or in the Release Notice.

(d) Where highest bids of equal value are received for released capacity from more than one bidder,

not including a designated Replacement Shipper under a prepackaged arrangement, the capacity (i) shall be

assigned in accordance with any nondiscriminatory method for breaking ties established by Releasor the

Release Notice, or (ii) shall, if Releasor does not establish a tie-breaking method, be assigned pro rata on

the basis of the respective quantities bid by the winning bidders. Bidders may specify their bids the

minimum quantities they will accept. If the pro rata allocation would result in assignment of quantities

below a bidder's minimum quantity, any such bidder will not be assigned the capacity, and the total quantity

available for assignment will then be re-allocated among the remaining highest value bidders on a pro rata

basis.

(e) Transporter will not award capacity release offers to the Shipper until and unless the Shipper

meets Transporter's creditworthiness requirements applicable to all services that it receives from

Transporter, including the service represented by the capacity release.

(f) Transporter shall post on the EBB the winning bid and the identity of the winning bidder(s)in

accordance with the Capacity Release timeline under Section 14.(c) above.