Michigan Gas Storage Company

First Revised Volume No 1

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Effective Date: 03/27/2000, Docket: RP00-523-000, Status: Effective

Third Revised Sheet No. 61 Third Revised Sheet No. 61 : Superseded

Superseding: Second Revised Sheet No. 61

GENERAL TERMS AND CONDITIONS

(continued)

(b) The party who accepts the Releasing Shipper's assignment

("Replacement Shipper") must execute a Service Agreement

with MGS as prescribed by this tariff, except as provided

in Section 21.6(a).

 

(c) A Replacement Shipper may also assign its Service Agreement

as a Releasing Shipper pursuant to this Section 22.

 

(d) Notwithstanding any other requirements contained in these

tariffs, for the period March 27, 2000 through September 30,

2002, there shall be no maximum rate for release or capacity

with a term of less than one year.

 

21.2 Initiation of the Assignment of Service Rights

 

(a) To initiate the assignment of service rights, the Releasing

Shipper must execute and deliver to MGS a Release Notice in

the form prescribed in Section 22.8 of the General Terms

and Conditions of this tariff.

 

(b) In the Release Notice, the Releasing Shipper must specify

the acceptable term and minimum rate of the assignment, as

well as if the assignment is subject to recall. The

Releasing Shipper may specify other, nondiscriminatory

conditions in the Release Notice, provided, however, that

the conditions are not in conflict with the Service

Agreement, the applicable Rate Schedule, or these General

Terms and Conditions. The Releasing Shipper may release

capacity on a volumetric basis, provided that all

conditions of the release are specified in the Release

Notice.

 

21.3 Posting

 

(a) MGS will post the information provided in the Release

Notice, as well as offers, bids and prearranged deals on

the electronic bulletin board upon receipt, or such other

time as requested by the Releasing Shipper that is in

accordance with the timeline set forth in Section 22.4.

The posting will include the MDQ or MSQ available for

assignment, the Points of Receipt and Delivery and the

released quantity for each point, the term of the

assignment, whether the assignment is firm or recallable

and the recall conditions, as well as the methods and

rights associated with returning the previously recalled

capacity to the Replacement Shipper, if applicable, the

minimum rate the Releasing Shipper will accept, and any

special conditions applicable to the assignment.

The Releasing Shipper may express the minimum acceptable

rate in dollars and cents or percents of maximum tariff

rate. The Releasing Shipper should also state whether it

requires a volumetric MMBtu or Dth committment.