Iroquois Gas Transmission System, L.P.

FIRST REVISED VOLUME NO. 1

Effective Date: 03/17/2005, Docket: RP05-185-000, Status: Effective

Second Revised Sheet No. 114 Second Revised Sheet No. 114 : Effective

Superseding: First Revised Sheet No. 114

Shippers eligibility; or (iii) pursuant to its Right of First

Refusal, the Existing Shipper matches the Offering Shippers bid,

whichever occurs first. Transporter will refund the entire

deposit within ten (10) days of the event triggering the

obligation to return. If Transporter executes a Gas

Transportation Contract pursuant to agreed-upon terms with the

Offering Shipper, Transporter shall credit the amount of the

deposit tendered to Shipper's invoice for the first month of the

requested transportation service. If, however, the Offering

Shipper (i) withdraws the Bid Notification before the bid is

rejected or before the Existing Shipper matches the bid, or (ii)

fails to execute a Gas Transportation Contact as provided in

Section 29.6 (l), Transporter will retain the deposit tendered

as liquidated damages.

(h) Transporters Review of Offering Shippers Bids.

Transporter will evaluate all bids in accordance with the

procedures set forth in Sections 3.2 and 3.3 of Rate Schedule

RTS.

(i) [Reserved]

(j) Bid Matching Procedure. If Transporter

accepts a Best Bid as a Competing Offer for purposes of this Bid

Matching Procedure, Transporter will inform the Existing Shipper

of the terms of the Competing Offer. Transporter will only

present Competing Offers that Transporter received in writing or

via its Electronic Bulletin Board and has substantially accepted

in principle in an arms-length transaction. Within thirty (30)

days of receiving the terms of the Competing Offer, the Existing

Shipper must notify Transporter whether Shipper agrees to match

the Competing Offer. Failure to notify Transporter within the

thirty (30) day period shall constitute an irrevocable waiver of

the Existing Shippers right of first refusal with respect