Scg Pipeline Inc.
Original Volume No. 1
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Effective Date: 11/01/2003, Docket: RP03-611-000, Status: Effective
Original Sheet No.66 Original Sheet No.66 : Superseded
GENERAL TERMS AND CONDITIONS
be relevant by Pipeline. The NPV shall also include only revenues generated
by the reservation rate, or other form of revenue guarantee, as proposed by
the bidder(s). For purposes of its NPV evaluation, Pipeline will consider the
aggregate NPV of two or more bids for minimum bid packages, provided that the
combined quantity of capacity under those packages do not exceed the maximum
capacity available for subscription.
4.4 Rejected Bids. Pipeline reserves the right to reject any bid lower than
the minimum acceptable bid for the capacity that is subject to the open
season. Pipeline may set a reserve price which will be the minimum rate for
the minimum acceptable bid; provided, however, if Pipeline elects to do so it
will: (i) set such reserve price prior to the time of posting; and (ii)
present such reserve price to a trustee to be held in escrow confidentially
until the conclusion of the bidding process so as to demonstrate that such
reserve price was established at the time of posting.
Irrespective of whether a bid has the highest NPV of the bids received,
Pipeline may reject bids for service that: (i) may detrimentally impact the
operational integrity of Pipeline’s system; (ii) do not satisfy all the terms
of the specified posting; (iii) contain terms and conditions other than those
set forth in this Tariff; (iv) do not satisfy the Pipeline’s creditworthiness
criteria; (v) contain contingencies that cannot be removed within a time frame
acceptable to Pipeline; or (vi) result in incremental costs.
4.5 Binding Nature of Bids. All bids received during the open season remain
binding on all bidders through the end of the open season unless withdrawn by
the bidder through the same medium on which its bid was submitted; provided,
however, that a bidder may withdraw its previous bid and submit a bid with a
higher NPV during the open season, but neither bidder (nor an affiliate of
bidder) may submit a bid with a lower NPV. At the end of the open season, all
bids either withdrawn by the bidder or not accepted by Pipeline shall become
null and void.