Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

Effective Date: 02/05/2004, Docket: RP03-304-000, Status: Effective

Seventh Revised Sheet No. 48 Seventh Revised Sheet No. 48 : Effective

Superseding: Sixth Revised Sheet No. 48

Bulletin Board. The monthly Measurement Variance/Fuel Use

Factor shall be calculated in the following manner:

Receipts-Deliveries +/- Linepack Change +/- Accumulated MV

Imbalance

---------------------------------------------------------------

Forecasted Systemwide Deliveries For The Applicable Month

858 Fuel Forecast +/- Accumulated 858 Fuel Imbalances

+ ------------------------------------------------------------

Forecasted Systemwide Deliveries Excluding Eastchester For

The Applicable Month

(854 Fuel Forecast +/- Accumulated 854 Fuel Imbalances) x

(Transportation Factor)

+ -------------------------------------------------------

Forecasted Deliveries For The Applicable Month, Zone,

and Eastchester Classification Excluding Backhauls

Where:

Receipts = Actual measured volumes received by Transporter

at Receipt Points for transportation during the

month ending one month prior to the Applicable

Month ("Measurement Month").

Deliveries = Actual measured volumes delivered by Transporter

to Delivery Points during the Measurement Month.

Line Pack Change = The change in line pack gas contained

within Transporter's System that occurred during

the Measurement Month.

Accumulated

Imbalances = Any gas (measurement variance or fuel) which has

been over or under collected during the month(s)

prior to the Measurement Month.

854 Fuel Forecast = Fuel required for transportation on

Transporter's System forecasted for the

Applicable Month.

858 Fuel Forecast = Fuel required for transportation on others

forecasted for the Applicable Month.