Petal Gas Storage, L. L. C.
Original Volume No. 1
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Effective Date: 11/01/2010, Docket: RP10-1219-000, Status: Effective
First Revised Sheet No. 69 First Revised Sheet No. 69
Superseding: Original Sheet No. 69
FTS RATE SCHEDULE (Continued)
under the Replacement Customer's FTS Agreement, and any
penalties assessed in connection with the Replacement Customer's
use of the released capacity. Petal will retain the minimum
Usage Rate, associated volumetric surcharges, and any penalty
4.3 Notification to Petal. To release its capacity rights, a Customer must
notify Petal in writing of the terms and conditions of the release.
The notification must include:
(a) The Releasing Customer's name, contract number, and phone
number of the individual responsible for authorizing the
release of capacity.
(b) The effective date(s) of the release.
(c) The volume(s) subject to release.
(d) Primary Receipt and Delivery Points.
(e) The minimum acceptable rate(s). NAESB Standard 5.3.26 (Version
1.9) states: The Releasing Customer should specify which one
of the following methods is acceptable for bidding on a given
capacity release offer: 1) Non-index based release - dollars
and cents, 2) Non-index based release - percentage of maximum
rate, or 3) Index-based formula as detailed in the capacity
release offer. The bids for the capacity release offer should
adhere to the method specified by the Releasing Customer. The
bidder may bid the maximum reservation rate, in Petal's tariff
or general terms and conditions, as an alternative to the
method specified by the Releasing Customer, except when the
release is index-based for a term of one year or less or
utilizes market-based rates.
(f) Whether the capacity is offered on a permanent or temporary
basis, and on a firm or recallable basis. If on a recallable
basis, include the conditions, if any, upon which the Releasing
Customer may recall the capacity.
(g) The criteria by which Petal shall evaluate the bids. A
Releasing Customer may select: 1) the present-value formula
specified in Section 4.2 of the General Terms and Conditions of
this Tariff, 2) net revenue, 3) highest rate, or 4) state its
own nondiscriminatory criteria, subject to Petal's approval.
For purposes of bid evaluation, any bid higher than Petal's
Maximum Rate shall be deemed to have been bid at Petal's