El Paso Natural Gas Company

First Revised Volume No. 1-A

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Effective Date: 10/01/1993, Docket: RS92- 60-016, Status: Effective

1st Rev Sub First Revised Sheet No. 240D 1st Rev Sub First Revised Sheet No. 240D : Superseded

Superseding: 1st Substitute Original Sheet No. 240D

TRANSPORTATION GENERAL TERMS AND CONDITIONS

(Continued)

 

20. OPERATING PROVISIONS FOR FIRM TRANSPORTATION SERVICE (Continued)

 

20.11 Resolution of Imbalances (Continued)

 

(ii) The four trade publications referenced above are

Inside FERC Gas Market Report (Prices of Spot Gas

Delivered to Pipelines), Natural Gas Week (Spot

Prices on Natural Gas Pipeline Systems, Delivered to

Pipelines), Gas Daily (Natural Gas Survey), and

Natural Gas Intelligence Gas Price Index (Spot Gas

Prices Delivered to Pipeline, 30 Day Supply

Transactions).

 

In the event any of the publications cease publication or

to the extent a publication fails to report spot prices,

then El Paso shall reserve the right to substitute prices

reported in a similar independent publication or continue

the pricing formula using the average of the remaining

publications. Changes in the name, format or other

method of reporting by the publications in (e) above that

do not materially affect the content shall not affect

their use hereunder.

 

(iii) El Paso shall post the Index Price monthly on its

electronic bulletin board on or before the 15th day

of each month applicable to the prior business month.

 

(iv) For any contract where total deliveries by El Paso

for a Shipper exceed the total receipts from

Shipper, after appropriate reductions, such

imbalance shall be "cashed out" based on the

percentages provided below. Further, the Index

Price shall be adjusted to reflect the point at

which the imbalance is held.

 

(1) For any contract subject to Section 20.11(d),

or by mutual agreement any contract with an

imbalance up to and including +5%, the quantity

will be invoiced at 100% of the Index Price;

 

(2) For any contract subject to Section 20.12(d) or

any contract with an imbalance greater than +5%

but less than or equal to +10%, the quantity in

excess of +5% will be invoiced at 110% of the

Index Price;