Midwestern Gas Transmission Company

SECOND REVISED VOLUME NO. 1

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Effective Date: 05/01/2001, Docket: RP01-338-000, Status: Effective

Fifth Revised Sheet No. 97 Fifth Revised Sheet No. 97 : Effective

Superseding: Fourth Revised Sheet No. 97

 

 

GENERAL TERMS AND CONDITIONS

 

 

8. Applicable Deadlines

 

a) For releases, GISB Standard 5.3.2 (Version 1.4) provides the following

Bidding Periods:

 

For short-term releases (less than 5 months):

-- offers should be tendered by 1 P.M. on the day before nominations for

short-term releases (less than 5 months);

-- open season ends no later than 2 P.M. on the day before nominations

are due (evaluation period begins at 2 P.M. during which contingency

is eliminated, determination of best bid is made, and ties are

broken);

-- evaluation period ends at 3:15 P.M.;

-- match or award is communicated by 3:15 P.M.;

-- match response by 4 P.M.;

-- award posting by 5 P.M.;

-- posting of pre-arranged deals not subject to bid by 9 A.M. the day

of nominations;

-- contract tendered with contract number by 10 A.M.; contract

executed; nomination possible for next day gas flow (Central Clock

Time).

 

 

For longer term releases (five months or more):

 

-- offers should be tendered by 1 P.M. four business days before award

for long-term releases;

-- open season ends no later than 2 P.M. on the day before nominations

are due (open season is three business days);

-- evaluation period begins at 2 P.M. during which contingency is

eliminated, determination of best bid is made, and ties are broken;

-- evaluation period ends at 3:15 P.M.;

-- match or award is communicated by 3:15 P.M.;

-- match response by 4 P.M.;

-- award posting by 5 P.M.;

-- posting of pre-arranged deals not subject to bid by 9 A.M. the day

of nominations;

-- contract tendered with contract number by 10 A.M.; contract

executed; nomination possible for next day gas flow (Central Clock

Time).

 

b) The deadlines set forth in this Section 8 are only applicable if (i) all

the information provided by the parties to the transaction is valid and

the Replacement Shipper has been determined to be creditworthy before

the capacity release bid is tendered; and (ii) there are no special

terms or conditions of the release. Nominations by the winning bidder

may be submitted for the next gas flow day or at the times otherwise

specified for intra-day or hourly nominations.