Portland Natural Gas Transmission System

Original Volume No.1

Effective Date: 02/11/1999, Docket: CP96-248-009, Status: Effective

Original Sheet No.349 Original Sheet No.349 : Superseded

GENERAL TERMS AND CONDITIONS (Continued)

(14) the date and time the Release Notice is posted on

Transporter's electronic bulletin board; and

(15) all other relevant terms of the prearranged release.

(d) The Releasing Shipper may withdraw a Release Notice at any

time during the bidding period. Where Transporter has determined that the

Release Notice contains no deficiencies, once the bidding period closes, the

Release Notice shall constitute a binding offer to release capacity to a

Successful Bidder(s) whose bid satisfies all the minimum terms specified in

the Release Notice.

11.7 Posting of Releasing Shipper's Election to Release Capacity. All

complete Release Notices submitted via Transporter's electronic bulletin board

or EDI pursuant to Section 11.6 herein shall be posted on the electronic

bulletin board as soon as they are submitted unless otherwise indicated by

Releasing Shipper, provided, however, that the names of Pre-Arranged

Replacement Shippers shall not be posted by Transporter during the bidding

period, and Transporter shall begin accepting bids immediately. Upon

Transporter's receipt of a Release Notice, Transporter shall evaluate the

notice to determine whether it satisfies the terms of this Section and shall

notify the Releasing Shipper of any deficiencies within a minimum period of

four (4) hours during one (1) or more Business Days. If there are no

deficiencies, Transporter shall indicate the fact that the Release Notice

contains no deficiencies on its electronic bulletin board. If there are

deficiencies, Transporter shall promptly notify the Releasing Shipper of the

deficiencies and the Releasing Shipper may at any time thereafter submit a

revised Release Notice. Following Transporter's determination that a Release

Notice or revised Release Notice contains no deficiencies, all information

relevant to the release shall remain on Transporter's electronic bulletin

board and available for bidding in accordance with the timeline specified in

Section 11.6(a). All offers to release capacity by the Releasing Shipper

shall be binding unless withdrawn in writing or electronically via

Transporter's Web EBB or EDI.

11.8 Bidding Procedure. Immediately upon the posting of a Release

Notice on Transporter's electronic bulletin board, Transporter shall begin

receiving bids for such capacity from potential Replacement Shippers. All

Shippers that wish to bid on such released capacity must notify Transporter

via Transporter's electronic bulletin board or via EDI. All bids submitted

shall be posted on the electronic bulletin board as soon as they are

submitted; provided, however, that the names of bidders shall not be posted by

Transporter during the bidding period. Any bids received must provide the

following information: