Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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Effective Date: 10/17/2006, Docket: RP06-177-003, Status: Effective

Substitute Seventh Revised Sheet No. 55 Substitute Seventh Revised Sheet No. 55 : Effective

Superseding: Seventh Revised Sheet No. 55

For a Shipper requesting service pursuant to the ITS

Rate Schedule, the Shipper provides a guarantee or other form

of security to secure payment of an amount equal to the

Transportation Commodity Charge applicable to the proposed

transportation service multiplied by the Maximum Equivalent

Quantity requested for a 3 month period, such guarantee or

other security to be provided by an entity which meets the

creditworthiness standards set forth in (a) or (b) above,

or Shipper is otherwise deemed to be creditworthy by

Transporter, consistent with the standards set forth above;

For a Shipper requesting service pursuant to the PAL

Rate Schedule, the Shipper provides a guarantee or other form of

security to secure payment of an amount equal to the arithmetic

average of the monthly New York City Gate Prices for the twelve

(12) months prior to the 1st of the month that the guarantee or

other form of security is provided, as published in Natural Gas

Week and posted on Transporter's Electronic Bulletin Board,

multiplied by the Maximum Balance Quantity requested, such

guarantee or other security to be provided by an entity which

meets the creditworthiness standards set forth in (a) or (b)

above, or Shipper is otherwise deemed to be creditworthy by

Transporter, consistent with the standards set forth above;

For a Shipper requesting service pursuant to the HUB

Rate Schedule, the Shipper provides a guarantee or other form

of security to secure payment of an amount equal to the

Transportation Commodity Charge applicable to the proposed

transportation service multiplied by the Maximum Balance

Quantity requested multiplied by thirty (30) days and an

additional amount equal to the arithmetic average of the monthly

New York City Gate Prices for the twelve (12) months prior to

the 1st of the month that the guarantee or other form of

security is provided, as published in Natural Gas Week and

posted on Transporter’s Electronic Bulletin Board, multiplied

by the Maximum Balance Quantity requested, such guarantee or

other form of security to be provided by an entity which meets

the creditworthiness standards set forth in (a) or (b) above, or

Shipper is otherwise deemed to be creditworthy by Transporter,

consistent with the standards set forth above.