Gulfstream Natural Gas System, L.L.C.

Original Volume No. 1

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Effective Date: 09/01/2005, Docket: RP05-414-000, Status: Effective

First Revised Sheet No. 184 First Revised Sheet No. 184 : Effective

Superseding: Original Sheet No. 184

 

 

GENERAL TERMS AND CONDITIONS

(CONTINUED)

 

 

(k) Awarding of Capacity Available for Release. Capacity

will be awarded no later than 5:00 p.m. of the Day

prior to the Day nominations are due. The capacity

available for release shall be awarded to the Bidding

Shipper with the highest bid matching all terms and

conditions provided by the Releasing Shipper. In the

case of multiple bid winners, the highest ranking bid

will receive the entire maximum amount of capacity

bid. The next highest bidder will receive the

remainder of the offered capacity provided that the

amount remaining is above the bidder's minimum

acceptable quantity. Any remaining capacity will be

given to the next highest bidder under the same

provisions as above. This process will repeat until

either all of the offered capacity is awarded or the

remaining capacity falls below either the Releasing

Shipper's minimum quantity or all the remaining

bidder's acceptable quantities. If bids are received

that do not match all the terms and conditions

provided by the Releasing Shipper, bids will be

evaluated by the criteria provided by the Releasing

Shipper. If no criteria are provided by the

Releasing Shipper, the Bidding Shipper bidding the

greatest NPV shall be awarded the capacity. If more

than one such bid has an equal NPV, then the capacity

shall be awarded on a first come, first served basis.

The ultimate awarding of capacity will be posted on

1LineSM by 5:00 p.m. on the Day prior to the Day

nominations are due. Unless the bidder was a

contingent bidder and the contingency did not occur,

Transporter will tender an Award Notice, as described

in Section 1 of the Master Service Agreement, to the

winning bidder by 10:00 a.m. of the Day nominations

are due.

 

Transporter shall not award capacity release offers

to the Replacement Shipper until and unless the

Replacement Shipper meets Transporter's

creditworthiness requirements applicable to all

services that it receives from Transporter, including

the service represented by the capacity release.