Gulfstream Natural Gas System, L.L.C.

Original Volume No. 1

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Effective Date: 03/01/2004, Docket: RP03-173-002, Status: Effective

First Revised Sheet No. 141 First Revised Sheet No. 141 : Effective

Superseding: Original Sheet No. 141

 

GENERAL TERMS AND CONDITIONS

(CONTINUED)

 

If a Cashout Party's Monthly Imbalance is in the

opposite direction from the Monthly System Imbalance

or is less than or equal to 5%, the monthly cashout

bill will be based on the average Midpoint price

contemplated in Section 8.7(a). The Monthly System

Imbalance will be calculated at the same time the

initial cashout bill for the billing Month is

generated. If a Cashout Party's Monthly Imbalance is

greater than 5% and is in the same direction as the

Monthly System Imbalance, the monthly cashout bill

will be based on the accumulated sum of the results

of the formulas listed below such that, and until,

the total Monthly Imbalance is fully accounted for:

 

Imbalance

Level Factor Applicable Cashout Price

 

0% - = <5% 1.00 average Midpoint

>5% - =<10% .90 (Low Common x quantity > 5%) + level above

>10% - =<15% .80 (Low Common x quantity >10%) + levels above

>15% - =<20% .70 (Low Common x quantity >15%) + levels above

>20% - =<25% .60 (Low Common x quantity >20%) + levels above

>25% .50 (Low Common x quantity >25%) + levels above

 

For purposes of determining the appropriate cashout

Factor, Cashout Party's imbalance level shall be

determined by taking the lower of (a) the level of

imbalance supplied pursuant to Section 25.2, or (b)

the imbalance computed by comparing (i) the

Deliveries at the Delivery Point and (ii) the

Receipts at the Receipt Point and by dividing the

excess Receipts by the total Receipts less

Transporter's Use. For OBA imbalances that are

resolved pursuant to this Section 8, the calculation

of the amount due the Cashout Party relating to

excess Receipts shall also include a Transportation

imbalance credit, which shall be calculated by

multiplying the excess Receipt quantity by the actual

weighted average of all applicable Usage Rates owed

on all quantities of Gas delivered during the Month

to that OBA Party. Transporter shall have no

responsibility for the distribution of funds beyond

the initial distribution, in accordance with this

resolutions procedure, to the Cashout Party.