Freebird Gas Storage, L.L.C.

First Revised Volume No. 1

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Effective Date: 03/20/2009, Docket: RP09-373-000, Status: Effective

First Revised Sheet No. 117 First Revised Sheet No. 117

Superseding: perseding Original Sheet No. 117

(h) Whether bids on a volumetric rate basis may be submitted, and,

if so, the method for evaluating any such bids, including how to

rank bids if bids are also to be accepted on a demand charge basis,

and any other special conditions;

(i) Whether contingent bids that extend beyond the bid period may

be submitted, how to evaluate and prioritize such bids against

non-contingent bids, and the terms and conditions under which, and/or

for what time period, the next highest bidder will be obligated to

acquire the capacity should the winning contingent bidder withdraw

its bids;

(j) Any extensions of the minimum posting/bid periods;

(k) Other special terms and conditions Releasing Shipper imposes

on the release of its capacity, including, but not limited to,

minimum revenue requirement, term and quantity;

(l) Whether the release is on a permanent or a temporary basis;

(m) An e-mail address for the Releasing Shipper contact person.

It is Shipper’s responsibility to update e-mail address information

provided to Freebird, as necessary;

(n) The recall notification period(s), as identified in Section

4.13(e) below, that will be available for use by the parties, and;

(o) A detailed description of any storage inventory that must be

transferred with released capacity.

4.2 Intraday Release Quantity. The daily contractual entitlement

that can be released by a Releasing Shipper for an intraday release

is limited to the lesser of:

(a) the quantity contained in the offer submitted by the Releasing

Shipper; or

(b) a quantity equal to 1/24 of the Releasing Shipper’s MDIQ and

MDWQ for the contract to be released multiplied by the number of hours

between the effective time of the release and the end of the Gas

Day.

This allocated daily contractual entitlement shall be used for purposes

of nominations, billing, and if applicable, for overrun calculations.

4.3 The MSQ that can be released by a Releasing Shipper for an

intraday release is limited to a quantity not in excess of the Releasing

Shipper’s MSQ less the Releasing Shipper’s Storage Inventory.4.3

Posting and Bidding Timeline. For the Capacity Release business process

timing model, specified in 4.3(a) and 4.3(b), below, only the following

methodologies shall be supported by Freebird and provided to Releasing

Shippers as choices from which they may select and, once chosen, shall

be used in determining the awards from the bid(s) submitted. They are:

1) highest rate, 2) net revenue and 3) present value. Other choices

of bid evaluation methodology (including other Releasing Shipper

defined evaluation methodologies) can be accorded similar timeline

evaluation treatment at Freebird’s discretion. However, Freebird is

not required to offer other choices or similar timeline treatment for

other choices. Further, Freebird shall not be held to the timeline

specified in Sections 4.3(a) and 4.3(b) below should the Releasing

Shipper elect another method of evaluation. Should the Releasing

Shipper elect another method of evaluation, the timeline specified

in Section 4.3(c), below, shall apply. The proposed duration of

Shipper’s release determines the minimum bid period for the Shipper’s

offer pursuant to this Section 4. The Capacity