Transcontinental Gas Pipe Line Company, LLC

Fourth Revised Volume No. 1

Effective Date: 12/31/2008, Docket: RP09-158-000, Status: Effective

Original Sheet No. 414 Original Sheet No. 414

GENERAL TERMS AND CONDITIONS

(Continued)

25. MONTHLY IMBALANCE RESOLUTION

Cumulative daily Transportation or OBA Imbalances shall be subject to the following imbalance

resolution procedures, however specific imbalance resolution procedures may be further

delineated in an OBA.

25.1 (a) Definition of OBA Imbalance: "OBA Imbalance" shall mean any difference between

the actual measured quantities and scheduled quantities at a Receipt or Delivery

Point (or multiple points covered by a common OBA) on a gas day.

(b) Definition of Transportation Imbalance: "Transportation Imbalance" shall mean

the difference between a Buyer's allocated receipts (adjusted for fuel) and

allocated deliveries under any firm, interruptible or liquefiable transportation

agreement. All imbalances will be calculated on a daily basis and designated to

be at the point of receipt.

receipts under a transportation agreement, excess measured quantities under a

Receipt OBA, or excess scheduled quantities under a Delivery OBA are "Due To"

(DT) a Buyer or OBA Party.

(d) Definition of a Negative Imbalance: A Negative Imbalance shall mean that excess

deliveries under a transportation agreement, excess scheduled quantities under a

Receipt OBA or excess measured quantities under a Delivery OBA are "Due From"

(DF) a Buyer or OBA Party.

(e) Definition of Trading Period: The "Trading Period" shall be the period beginning

on the 1st calendar day following the end of the immediately preceding month

through the end of the 17th business day following the end of such preceding

month.

25.2 Buyer or OBA Party may elect, in writing, for each contract, at least one day prior to

a current month, that imbalances created as a result of post-month changes to prior

month receipt or delivery allocation, measurement or other adjustments (Prior Period

Adjustments) made in that current month, may either be: (1) incorporated into Buyer's

or OBA Party's current month imbalance calculation for imbalance resolution purposes,

or (2) cashed out at the average of the weekly Reference Spot Prices applicable to the

month of gas flow pursuant to Section 37.1(a) of the General Terms and Conditions.

Such election shall remain in effect for subsequent months until changed by Buyer or

OBA Party. If no election is made, Prior Period Adjustments shall be incorporated

into Buyer or OBA Party's current month imbalance calculation for imbalance resolution

purposes.