Northern Natural Gas Company

Fifth Revised Volume No. 1

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Effective Date: 11/22/2003, Docket: RP03-398-004, Status: Effective

Substitute Original Sheet No. 267A Substitute Original Sheet No. 267A : Superseded

 

GENERAL TERMS AND CONDITIONS

 

 

(iii) Field Area Monthly Index Prices (Field Area MIP)

 

a. The High Field Area Monthly Index Price (High Field Area MIP)

shall equal the arithmetic average of the highest average

weekly price occurring within each five-week period at

Panhandle, Tx - Okla and El Paso, Permian Basin.

 

b. The Low Field Area Monthly Index Price (Low Field Area MIP)

shall equal the arithmetic average of the lowest average

weekly price within each five-week period at Panhandle,

Tx - Okla and El Paso, Permian Basin.

 

c. The Average Field Area Monthly Index Price (Average Field

Area MIP) shall equal the arithmetic average of the five

average weekly prices at Panhandle, Tx - Okla and El Paso,

Permian Basin

 

(iv) Gulf Coast Monthly Index Prices (GC MIP)

 

a. The High Gulf Coast Monthly Index Price (High GC MIP) shall

equal the arithmetic average of the highest average weekly

price occurring within each five-week period at Florida Gas,

zone 1 and Houston Ship Channel.

 

b. The Low Gulf Coast Monthly Index Price (Low GC MIP) shall

equal the arithmetic average of the lowest average weekly

price within each five-week period at Florida Gas, zone 1 and

Houston Ship Channel.

 

c. The Average Gulf Coast Monthly Index Price (Average GC MIP)

shall equal the arithmetic average of the five average weekly

prices at Florida Gas, zone 1 and Houston Ship Channel.

 

Imbalance quantities will be dollar valued using the MIPs set forth

above depending on whether the imbalance quantities were created in the

Market Area, Field Area or the Gulf Coast Area.

 

If a price discovery point is eliminated or redefined by "Gas Daily,"

Northern will notify shippers via an Internet website posting.

Northern will make a tariff filing to change MIP components.

 

Northern will electronically post, on or before the 15th day of the

following month, the MIPs, including the tiered values, to be used

for the previous calendar month.