Richfield Gas Storage System

Substitute Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-150-002, Status: Effective

Original Sheet No. 10A Original Sheet No. 10A : Superseded

 

(4) The following Capacity Release timeline is

applicable to all parties involved in the Capacity

Release process; however, it is only applicable if

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 and 2) there are

no special terms or conditions of the release. All

stated times are Central Time.

 

(i) Short-term Releases (less than five months)

 

On the Day Before Nominations

 

1:00 p.m. Time by which Releasing Customer

shall post the Release Notice on

Richfield's EBB

 

2:00 p.m. Bidding period ends

Evaluation period begins during

which any contingency is

eliminated, determination of best

bid is made and ties are broken

 

3:00 p.m. Evaluation period ends

Match or award is communicated to

Designated Replacement Customer

 

4:00 p.m. Match response is due Designated

Replacement Customer

 

5:00 p.m. Award posting to Replacement

Shipper or Designated Replacement

Shipper

 

(ii) Longer Term Releases (five months or more)

 

The timeline is the same as short-term

releases except that the Releasing Customer

shall post the Release Notice on Richfield's

EBB by 1:00 p.m. Central Time four (4)

business days before the bidding period ends.

The bidding period ends at 2:00 p.m. on the

day before nominations are due.

 

(5) A party may submit only one bid at a time in

response to a Release Notice. Bids shall be

binding until written or electronic notice of

withdrawal is received by Richfield, prior to the

close of the posting period specified herein, and

without prejudice to its submitting another bid

with an economic value equal to or greater than the