Equitrans, L. P.

Original Volume No. 1

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Effective Date: 05/16/2010, Docket: RP10-616-000, Status: Effective

Third Revised Sheet No. 277 Third Revised Sheet No. 277

Superseding: Second Revised Sheet No. 277

 

GENERAL TERMS AND CONDITIONS (Continued)

 

(v) Whether or not the Bidder is an affiliate of the

Releasing Customer; and

 

(vi) All other information requested by Releasing Customer.

 

b. A bid may be withdrawn after it is received by Equitrans

either in writing, on Equitrans' EBB System, or via EDI at any

time up to the last day of the bidding period, however, no bid

can be withdrawn after the bidding period. Any bid received

by Equitrans during the bidding period shall be legally

binding on the Bidder unless withdrawn by the Bidder. Once a

Bidder withdraws a bid, it cannot submit a subsequent bid for

the same released capacity unless the subsequent bid is for an

equal or higher rate than the original bid. To be considered,

a bid must satisfy the minimum terms imposed by the Releasing

Customer.

 

22.9 Awarding of Released Capacity.

 

a. Equitrans will evaluate all bids in accordance with

the time line set forth in Paragraph 22.7 c.

Initially, Equitrans will eliminate from consideration those

bids which do not meet the minimum conditions established by

the Releasing Customer and those Bidders which have not

complied with Equitrans' own creditworthiness criteria. If

the Releasing Customer has provided criteria for determining

the "best bid", Equitrans will apply those criteria to

determine which bid receives the capacity. Equitrans is only

required to meet the capacity release timeline for processing

capacity reallocation if the Releasing Customer's "best

bid" is defined as that bid which generates (1) the highest

value, (2) the maximum net revenue, or (3) the highest present

value. If multiple bids have been submitted meeting minimum

conditions, Equitrans shall award the bids, best bid first,

until all offered capacity is awarded. If no evaluation

criteria have been provided by the Releasing Customer,

Equitrans will award the released capacity based on the

application of the following criteria:

 

(i) If there is only one valid bid, Equitrans will award

the released capacity to that Bidder;

 

(ii) If more than one valid bid is received, Equitrans

will award the released capacity to the Bidder

offering the maximum applicable rate for the maximum

term specified by the Releasing Customer;