Kentucky West Virginia Gas Company

Third Revised Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-104-001, Status: Effective

First Revised Sheet No. 148 First Revised Sheet No. 148 : Superseded

Superseding: Original Sheet No. 148

 

GENERAL TERMS AND CONDITIONS (Continued)

 

Customer in its notice of release.

 

b. A bid may be withdrawn after it is received by the

Pipeline in writing or on the Pipeline's electronic

communication system 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bidding period, however no bid can be withdrawn after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 the Pipeline

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Bidder unless withdrawn by the Bidder.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.

 

25.8 Awarding of Released Capacity

 

a. Released capacity shall be made available on a

nondiscriminatory basis in accordance with the procedures

described herein. Pipeline will evaluate all

bids received between 2:00 p.m. CCT and 3:00 p.m. CCT on

the day the bidding period ends, and select the bid which

will receive the released capacity. Initially, Pipeline

will eliminate from consideration those bids which do not

meet the minimum conditions established by the Releasing

Customer and those bids which have not complied with

Pipeline's own creditworthiness criteria. If the

Releasing Customer has provided criteria for determining

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

determine which bid receives the capacity. The Pipeline 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,

Pipeline shall award the bids, best bid first, until all

offered capacity is awarded. If no evaluation criteria

have been provided by the Releasing Customer, Pipeline

will award the released capacity based on the application

of the following criteria:

 

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

the released capacity to that Bidder;

 

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