Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

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Effective Date: 06/30/2004, Docket: RP04-321-000, Status: Effective

Original Sheet No. 55 Original Sheet No. 55 : Effective

RATE SCHEDULE IT

INTERRUPTIBLE TRANSPORTATION SERVICE

1. AVAILABILITY

This Rate Schedule is available for Natural Gas Transportation

and Gathering service performed by Panhandle Eastern Pipe Line

Company, LP (hereinafter called Panhandle) for any party

(hereinafter called Shipper):

(a) which has executed a Service Agreement in the form

prescribed under Panhandle's FERC Gas Tariff for service

under this Rate Schedule;

(b) which delivers Natural Gas or causes Natural Gas to be

delivered to Panhandle for delivery by Panhandle for the

account of Shipper; and

(c) which receives such Gas from Panhandle at a physical

Point(s) of Delivery equipped with a Flow Control Device

or at a Pool Point(s).

2. APPLICABILITY AND CHARACTER OF SERVICE

This Rate Schedule shall apply to the interruptible

Transportation and Gathering of Natural Gas on Panhandle's system,

subject to the General Terms and Conditions herein and the further

provisions of the Service Agreement.

The service provided by Panhandle under this Rate Schedule

consists of the receipt of Natural Gas by Panhandle at Point(s) of

Receipt located on Panhandle's system and specified in the executed

Service Agreement and the delivery of such Gas, after appropriate

reductions, at a Point(s) of Delivery located on Panhandle's system

and specified in the executed Service Agreement on a uniform hourly

basis up to the Maximum Daily Contract Quantity (MDCQ) set out in the

executed Service Agreement, subject to the availability of capacity.

In no event shall Panhandle be obligated to provide any

Transportation or Gathering service for which capacity is not

available or which would require the construction or acquisition of

new facilities or the modification or expansion of existing

facilities.