Venice Gathering System, L. L. C.
Original Volume No. 1
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Effective Date: 01/01/1998, Docket: CP97-533-002, Status: Effective
Original Sheet No. 110 Original Sheet No. 110 : Effective
GENERAL TERMS AND CONDITIONS
11.5 Reliance on Operational Information
Customers may rely on operational information
provided by VGS to adjust their imbalances during a month.
Where the calculation of an imbalance using the operational
information provided by VGS will result in an imbalance
being cashed-out at a tier price more favorable to Customer,
VGS will cash-out such imbalance at the more favorable tier.
11.6 Prior Period Adjustments
Any imbalance resulting from a prior period
adjustment will first be used to reduce the cash-out
quantity for the month in which the imbalance was incurred.
Customer may then elect to net the imbalance across
Customer's agreements for the month prior to the month in
which the adjustment is made. Customer may trade any
remaining imbalance with other Customers up until the
twenty-fifth day of the month in which Customer was notified
of the adjustment. Imbalances not netted or traded will be
cashed out at 100% of Spot Index Price for the month in
which the imbalance was incurred.
11.7 Imbalance Nominations
For each day on which Customer desires to schedule
the delivery of gas to VGS or the receipt of gas from VGS
for the resolution of an accrued under- or over-delivery
within a month, Customer shall submit to VGS, in a
nomination, the daily quantity of gas, expressed in Dths,
that it has available for delivery or the quantity of gas
Customer desires to receive, in accordance with the
nomination procedures set forth in Section 6. Such
deliveries and receipts shall be scheduled as operating
conditions reasonably permit. The scheduling priority for
such nominations shall be the priority of the service
agreement on which the imbalance accrued.