Petal Gas Storage, L. L. C.

Original Volume No. 1

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Effective Date: 05/01/2002, Docket: RP02-188-000, Status: Effective

Original Sheet No. 72 Original Sheet No. 72 : Effective

 

 

 

FTS RATE SCHEDULE (Continued)

 

 

(c) If more than one timely eligible bid is received, the released

capacity will be allocated as follows:

 

(i) A designated Replacement Customer whose bid is the

highest bid received shall be entitled to the released

capacity, although the maximum reservation rate that may

be bid shall not exceed the maximum rate for the

applicable service being released as set forth on the

applicable currently effective tariff sheets, unless such

release is for less than one year, in which case there

shall be no maximum rate.

 

(ii) The bidder submitting the highest eligible bid shall be

entitled to the released capacity if there is no

designated Replacement Customer.

 

(iii) If the designated Replacement Customer's bid is not the

highest eligible bid, the designated Replacement Customer

shall be entitled to the released capacity if it matches

or exceeds the highest eligible bid within one (1)

Business Day after notification thereof; otherwise the

bidder who submitted the highest eligible bid shall be

entitled to the released capacity.

 

(iv) Should two or more potential Replacement Customers make

identical winning bids, as determined by Section 4.2 of

the General Terms and Conditions of this FERC Gas Tariff,

or other nondiscriminatory methodology provided by

Releasing Customer, capacity will be allocated according

to the nondiscriminatory procedure specified by the

Releasing Customer or, if the Releasing Customer did not

specify a procedure, the capacity will be allocated to the

Customer who submitted the earlier bid.

 

(d) Within one (1) Business Day after capacity has been awarded to

a winning bidder, or transportation service commences under a

pre-arranged release not subject to bidding, Petal will post

the following information regarding the released capacity for a

period of 30 Business Days:

 

(i) The name of the Replacement Customer.

 

(ii) Whether or not the Replacement Customer is an affiliate

of Petal.

 

(iii) The term of service.

 

(iv) The present value of the winning bid.

 

(v) The volume(s) released.