UGI LNG, Inc
Original Volume No. 1
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Effective Date: 06/01/2009, Docket: RP09-365-000, Status: Effective
Original Sheet No. 58 Original Sheet No. 58
(h) The term of the release shall be for a fixed period and
shall not continue beyond such term.
18.8 Capacity Release Agreements
Once released capacity has been awarded, the terms of the award,
which shall be based on the Releasing Customer's offer to release
the capacity and the Replacement Customer's bid for the capacity,
and the provisions of Company's applicable Form of Service Agreement
shall together establish and constitute the contractual relationship
between Company and the Replacement Customer governing the released
capacity, with the terms of the award supplying the necessary
information to complete the applicable Form of Service Agreement.
In that regard, the Replacement Customer specifically agrees to
follow Company's nomination deadlines, as set forth in Section 17.1
of these General Terms and Conditions. Such contracting process shall
be accomplished through Company's EBB.
18.9 Posting Periods
The 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, 2) there are no special terms or
conditions of the release, and 3) for purposes of determining
the Best Bid, the methodology specified by the Releasing
Customer is either highest rate, net revenue, or present value.
(a) For Short-Term Releases (less than one year): (All times
are Central Clock Time)
12:00 noon - Releasing Customers must input offers subject to
bid to release firm capacity on a business day (and Pre-Arranged
Replacement Customer's Bid information if applicable) in the
Capacity Release product on Company's EBB or through electronic
data interchange for Company's approval.
1:00 p.m. - Bidding period closes for all applicable offers
on a business day. Evaluation period begins. During the
evaluation period, contingency bids are eliminated, determination
of best bid is made, and ties are broken.
2:00 p.m. - Evaluation period ends. Company identifies the
highest bidder(s); or notifies Pre-Arranged Customer of right to
match the best bid pursuant to Section 18.5(i).
2:30 p.m. - Pre-Arranged Replacement Customer's right to match
the best bid expires.