Destin Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 09/01/1998, Docket: CP96-655-003, Status: Effective

Original Sheet No. 119 Original Sheet No. 119 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

Section 18.6(h) (continued)

 

revenues generated by the aggregated bids, according to the

best bid criteria, will then be compared to the full-volume

bid generating the most revenues to determine whether the

full-volume bid or the aggregated bids generate the most

revenues and is the best bid.

 

In its Offer the RELEASING SHIPPER may specify the COMPANY's

best bid criteria set forth above or one of the following

pre-programmed criteria:

 

(1) Highest rate;

 

(2) Rate times volume (regardless of term);

 

(3) Net Value (price times volume times term); or

 

(4) Present Value.

 

If the best bid does not utilize all of the capacity being

offered for release and the RELEASING SHIPPER provided in its

Offer that it would accept multiple qualifying bids, then

COMPANY will award the capacity in the order of best bids

until it has awarded all of the offered capacity possible.

 

(i) Tie Breaker: If there is a tie for the best bid, and there is

no Prearranged Bidder who has agreed to match the best bid,

the winning bid shall be determined by applying the tie

breaker stipulated in the RELEASING SHIPPER's Offer. The

RELEASING SHIPPER may specify one of the following tie

breakers. If the RELEASING SHIPPER fails to specify a tie

breaker, COMPANY shall apply the following tie breakers in

the order shown, if necessary: