Tuscarora Gas Transmission Company

First Revised Volume No. 1

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Effective Date: 07/01/2009, Docket: RP09-926-000, Status: Effective

First Revised Sheet No. 150 First Revised Sheet No. 150

Superseding: Original Sheet No. 150

 

GENERAL TERMS AND CONDITIONS

 

26. CAPACITY RELEASE (Continued)

 

26.4 Release Procedures. (continued)

 

(g) Withdrawn or Revision of Bids

 

A previously submitted bid may be withdrawn or revised and

resubmitted at any time prior to the close of the Bid Period with

no obligation on the Replacement Shipper's part. In accordance

with NAESB Standard 5.3.15, Version 1.8, bids cannot be withdrawn

after the bid period ends. Resubmitted bids must be equal to or

greater in value than the initial bids. Lower valued bids will be

invalid. In accordance with NAESB Standard 5.3.13, Version 1.8,

bids should be binding until written or electronic notice of

withdrawal is received by the capacity release service provider.

 

 

26.5 Allocation of Parcels

 

(a) Primary Allocation

 

In accordance with NAESB Standard 5.3.3, Version 1.8, winning bids

for Parcels shall be awarded based on one of the following three

(3) options to be selected by the Releasing Shipper when posting a

Parcel:

 

Option 1 - Highest Rate Equivalent

 

Bids will be given priority based on the maximum rate bid as

represented by (1) a Replacement Shipper's bid of the percentage

of the maximum authorized reservation charge or a volumetric

equivalent of the maximum reservation charge applicable to the

Parcel on a 100% load factor basis, or (2) a Replacement Shipper's

bid in terms of absolute dollars and cents per Dth. A bid queue

will be maintained for each individual Parcel.

 

Option 2 - Present Value

 

Bids will be given priority based on the net present value of

the bid according to the following formula:

n

(1 + i) -1

Present Value per = P * R * _________

n

i (1 + i)