Portland Natural Gas Transmission System
First Revised Volume No. 1
Effective Date: 11/01/2000, Docket: RP01- 50-000, Status: Effective
Original Sheet No. 337A Portland Natural Gas Transmission System: First Revised Volume No. 1
Original Sheet No. 337A : Superseded
GENERAL TERMS AND CONDITIONS (Continued)
8.10 Imbalance Trading and Netting.
(a) Imbalance Trading. Imbalance Trading is available for any daily
imbalance that would otherwise be resolved pursuant to Section 8.3(b) above or
Section 8.10(b) below. Transporter shall allow Shippers to trade daily
imbalances within the part of the pipeline from Pittsburg, New Hampshire and
Westbrook, Maine (PNGTS North), and within the part of the pipeline from
Westbrook, Maine and Dracut, Massachusetts (Joint Facilities). Trading of
imbalances between these two parts of the pipeline is permitted, but may be
restricted by Transporter from time-to-time based on its review of the
operational feasibility of such trading. Transporter will allow Shippers to
trade daily imbalances if the two daily imbalances offset each other in such a
way that the net daily imbalance after the completion of the trade for each
Shipper would be reduced to a quantity closer to zero. A Shipper may trade any
daily imbalance with another Shipper, provided that the trade does not violate
any notices issued by Transporter relating to operation of Transporter's system.
A Shipper with a daily imbalance resulting from deliveries by Transporter in
excess of receipts from Shipper on that day will reimburse Transporter for any
difference in transportation revenues that result from such trading.
Imbalance trading may be done at any time during the gas flow month, and
until the seventeenth Business Day after the end of the month. To facilitate the
trading process, Transporter will, upon receipt of Shipper's authorization, post
the Shipper's daily imbalance quantity on Transporter's Interactive Internet
Website. Authorizations to post imbalances that are received by Transporter by
11:45 A.M. will be effective by 8 A.M. the next business day (central clock
time). An authorization to post imbalances will remain in effect until cancelled
by the Shipper giving the authorization. Daily imbalances previously authorized
for posting will be posted as they become available, but no later than the ninth
business day of the month; however, Transporter will not be required to post zero
imbalances. The information posted will also identify the contract, the area
within which the imbalance arose (PNGTS North or Joint Facilities), and the gas
day applicable to the posted daily imbalance quantity. Transporter will provide
to all customers the ability to view, and upon request, download posted imbalance
information.
Transporter shall enable the imbalance trading process by (i) receiving the
request for imbalance trade, (ii) receiving the imbalance trade confirmation,
(iii) sending the imbalance trade notification to all affected parties, and (iv)
reflecting the trade prior to or on the next monthly Shipper Imbalance. When
trading imbalances, the quantity to be traded must be specified. After receipt
of an imbalance trade confirmation, Transporter will send the imbalance trade
notification to the initiating trader and the confirming trader no later than
noon (central clock time) on the next business day. Imbalance trades can only be
withdrawn by the initiating trader and only prior to the confirming trader's
confirmation of the trade. Imbalance trades are considered final when confirmed
by the confirming trader. Transporter shall update the Shipper's daily imbalance
data to reflect any final trades of imbalance quantities no later than 9 a.m. CT
on the next business day after the trade is finalized.
(b) Imbalance Netting. A Shipper may net Shipper Imbalances between
its service agreements, provided that Transporter will be reimbursed for any
difference in Transportation revenues that result from such netting.