Panther Interstate Pipeline Energy, L.L.C.

Original Volume No. 1

Effective Date: 07/01/2009, Docket: RP09-647-000, Status: Effective

Second Revised Sheet No. 42 Second Revised Sheet No. 42

Superseding: First Revised Sheet No. 42

11. TEMPORARY RELEASE OR PERMANENT ASSIGNMENT OF RIGHTS TO FIRM

TRANSPORTATION SERVICE

11.1 Applicability: This Section 11 implements in principle the

Commission's Regulations at 18 C.F.R. Section 284.8 and is

applicable to any Shipper that holds rights to firm transportation

under Rate Schedule FT that elects temporarily to release or

permanently to assign all or a portion of such firm transportation

rights ("Releasing Shipper"). The term "release" or "released"

shall apply to permanent assignments as well as temporary releases

unless otherwise noted. A Releasing Shipper shall have the right

to release any portion of its firm transportation rights and

obligations but only to the extent that the rights so released are

acquired by another party pursuant to the provisions of this

Section 11 and such party executes a transportation service

agreement with Transporter. Such party shall be referred to

herein as "Replacement Shipper". A person that desires to bid on

and obtain firm transportation rights released under the

provisions of this Section 11 shall be known as a "Bidder."

11.2 Any Firm Shipper desiring to release all or part of its capacity

rights may do so by pre-arrangement with a Replacement Shipper or

by use of a bidding procedure. The following prearranged releases

are exempt from the bidding procedure: (i) a release of capacity

to an asset manager as defined in 18 C.F.R. Section 284.8(h)(4);

(ii) a release of capacity to a marketer participating in a state-

regulated retail access program as defined in 18 C.F.R.

284.8(h)(5); (iii) a release for more than one year at the maximum

tariff rate; and (iv) a release with a term of thirty-one (31)

days or less, except rollovers. Any other capacity release and

assignment shall require advance posting on Transporter's

internet-accessible Website. Releasing Shipper shall notify

Transporter when it releases capacity to an asset manager or a

marketer participating in a state-regulated retail access program,

as defined in the Commission's regulations. Where the capacity in

question is the subject of a prearranged release transaction, it

shall be posted for a minimum of two Business Days, during the

first of which Transporter will undertake to notify all existing

shippers