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

Fifth Revised Sheet No. 71 Fifth Revised Sheet No. 71

Superseding: Fourth Revised Sheet No. 71

 

FTS RATE SCHEDULE (Continued)

 

 

4.4 Release Capacity Timeline.

 

(a) For releases, NAESB Standard 5.3.1 (Version 1.9) states: The

capacity release timeline applies to all parties involved in the

capacity release process provided that: 1) all information

provided by the parties to the transaction is valid and the

Replacement Customer has been determined to be creditworthy

before the capacity release bid is tendered, 2) for index-based

capacity release transactions, the Releasing Customer has

provided Petal with sufficient instructions to evaluate the

corresponding bid(s) according to the timeline, and 3) there are

no special terms or conditions of the release. Further, Petal

may complete the capacity release process on a different

timeline if the offer includes unfamiliar or unclear terms and

conditions (e.g. designation of an index not supported by

Petal).

 

 

(b) For releases, NAESB Standard 5.3.2 (Version 1.9) provides the

following Bidding Periods:

 

For biddable releases (1 year or less):

 

-- offers should be tendered by 12 p.m. on a Business Day;

-- open season ends no later than 1 p.m. on a Business Day

(evaluation period begins at 1 p.m. during which

contingency is eliminated, determination of best bid is

made, and ties are broken);

-- evaluation period ends and award posting if no match required

at 2 p.m.;

-- match or award is communicated by 2 p.m.;

-- match response by 2:30 p.m.;

-- where match required, award posting by 3 p.m.;

-- contract issued within one hour of award posting (with a

new contract number, when applicable); nomination possible

beginning at the next available nomination cycle for the

effective date of the contract. (Central Clock Time)

 

For biddable releases (more than 1 year):

 

-- offers should be tendered by 12 p.m. four Business Days before

award;

-- open season ends no later than 1 p.m. on the Business Day

before timely nominations are due (open season is three

Business Days);

-- evaluation period begins at 1 p.m. during which contingency is

eliminated, determination of best bid is made, and ties are

broken;

-- evaluation period ends and award posting if no match required

at 2 p.m.;

-- match or award is communicated by 2 p.m.;

-- match response by 2:30 p.m.;

-- where match required, award posting by 3 p.m.;

-- contract issued within one hour of award posting (with a new

contract number, when applicable); nomination possible

beginning at the next available nomination cycle for the

effective date of the contract. (Central Clock Time)