Tuscarora Gas Transmission Company

Original Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-168-001, Status: Effective

First Revised Sheet No. 71 First Revised Sheet No. 71 : Effective

Superseding: Original Sheet No. 71

 

 

GENERAL TERMS AND CONDITIONS

 

 

26.5 Effect of Notices and Bids.

 

(a) The posting of Releasing Shipper's Notice shall constitute an

invitation to entertain bids on the Releasing Shipper's firm

transportation contract rights and obligations pursuant to its terms

and the terms herein, but shall not constitute an offer by Transporter.

A bid shall constitute an offer by the bidding party to accept from

Transporter such rights and obligations. Bids may be revised during

the Bid Period, and shall be deemed received as of the time of the

last revision; provided, however, that no bidder shall maintain more

than one bid for the same capacity. No bid may be resubmitted or

revised in order to submit a lower bid.

 

(b) Bids and offers should be complete before being posted. Only posted

offers and bids should be available electronically.

 

(c) Bids should be binding until written or electronic notice of

withdrawal is received by the capacity release service provider.

 

(d) Bids cannot be withdrawn after the bid period ends.

 

(e) Offers should be binding until written or electronic notice of

withdrawal is received by the capacity release service provider.

 

(f) The releasing party has the right to withdraw its offer during the

bid period, where unanticipated circumstances justify and no minimum

bid has been made.

 

(g) For the capacity release business process timing model, only the

following methodologies are required to be supported by capacity

release service providers and provided to releasing shippers as

choices from which they may select and, once, chosen should 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 the discretion of the capacity release service provider.

However, the capacity release service provider is not required to

offer other choices or similar timeline treatment for other choices,

nor, is the capacity release service provider held to the timeline

should the releasing shipper elect another method of evaluation.