Steuben Gas Storage Company

Original Volume No. 1

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Effective Date: 10/01/2002, Docket: RP02-429-000, Status: Effective

First Revised Sheet No. 15A First Revised Sheet No. 15A : Effective

Superseding: Original Sheet No. 15A

 

 

RATE SCHEDULE FS

FIRM STORAGE

(Continued)

 

 

(g) Capacity will be awarded no later than 3:00 p.m. Central

Clock Time. The capacity will be awarded to the

Replacement Customer which otherwise satisfies the

requirements of this Tariff and also meets all of the

conditions of the offer to release capacity. In the case

of multiple bid winners, the highest ranking bid will

receive the entire maximum amount of capacity bid. The

next highest ranking bidder will receive the remainder of

the offered capacity provided that the amount remaining

is above the bidder's minimum acceptable quantity. Any

remaining capacity will be given to the next highest

bidder with the same provisions as above. This process

will repeat until either all of the offered capacity is

awarded or the remaining capacity falls below either the

Releasing Customer's minimum quantity or all of the

remaining bidder's acceptable quantities. Seller shall

not be required to contract with parties submitting bids

that do not meet the conditions of the offer to release

capacity, however, subject to approval of Releasing

Customer, Seller may accept bids offering a price or term

less than that set forth in the release. Bids will be

evaluated by the criteria provided by the Releasing

Customer. If no criteria are provided by the Releasing

Customer, bids will be accepted in the order of priority

based upon the highest economic value offered by the

competing bids as defined in Section 10 of the General

Terms and Conditions. The ultimate awarding of the

capacity will be posted subsequently on Seller's Internet

Site by 4:00 p.m.