Northwest Pipeline Corporation G P

Fourth Revised Volume No. 1

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Effective Date: 08/01/2009, Docket: RP09-607-000, Status: Effective

Second Revised Sheet No. 258A Second Revised Sheet No. 258A

Superseding: First Revised Sheet No. 258-A

GENERAL TERMS AND CONDITIONS

(Continued)

22. CAPACITY RELEASE (Continued)

(g) The Economic Value of a bid: The total net present

value of the demand and capacity charge bid for the release of

storage capacity or of the reservation charge bid for the release

of transportation capacity. The net present value shall be

computed from the monthly demand and capacity, or reservation

revenues to be received over the term of the release contract,

using the

discounted cash flow rate of return methodology, with the rate of

discounting to be published on Transporter's Designated Site, as

amended from time to time. NAESB WGQ Capacity Release Related

Standard 5.3.3 (Version 1.8) will apply and is incorporated by

reference.

(h) Open Season: The minimum number of business days allowed

for posting releases and accepting bids.

22.2. General Provisions. NAESB WGQ Capacity Release Related

Standards 5.3.1, 5.3.4, 5.3.5, 5.3.7 through 5.3.9, 5.3.18,

5.3.20, 5.3.21, 5.3.24, and 5.3.31 through 5.3.43 (Version 1.8)

will apply and are incorporated by reference.