Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

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Effective Date: 03/24/2000, Docket: RP94- 72-012, Status: Effective

Second Revised Sheet No. 75B Second Revised Sheet No. 75B : Effective

Superseding: First Revised Sheet No. 75B

GENERAL TERMS AND CONDITIONS (Continued)

(b) Carrying charges shall be computed on the

unamortized ending monthly Deferred Asset balance, net of the

unamortized portion of associated deferred income taxes.

Associated deferred income taxes shall be computed using the

composite income tax rate used in deriving Transporter's then-

effective rates. Carrying charges shall be computed at an

interest rate equal to the weighted-average cost of debt

percentage used in deriving Transporter's then-effective rates.

(c) For purposes of reflecting an adjustment in a

current year's Annual Requirement, a prior year's Annual

Requirement shall be recalculated to reflect any change in

Transporter's interzone allocation factors, Transporter's

weighted-average cost of debt, Transporter's imputed composite

income tax rate, or Transporter's system load factor, if, and to

the extent that, such changed components were used to derive

Transporter's effective rates during such prior year, or were

otherwise reflected in Transporter's rates and charges for such

prior year pursuant to a final, non-appealable order issued by

the Federal Energy Regulatory Commission in a Section 4 rate

proceeding.

12.4 RESERVED FOR FUTURE USE.