Tres Palacios Gas Storage LLC

Original Volume No. 1

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Effective Date: 08/01/2008, Docket: RP08-424-000, Status: Effective

Original Sheet No. 116 Original Sheet No. 116

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

This allocated daily contractual entitlement shall be used for

purposes of nominations, billing, and if applicable, for overrun

calculations.

 

The MSQ, Maximum Park Quantity or Maximum Loan Quantity that can

be released by a Releasing Customer for an intraday release is

limited to a quantity not in excess of the Releasing Customer's

MSQ, Maximum Park Quantity or Maximum Loan Quantity, less the

Releasing Customer's Storage Inventory or Loan Balance.

 

4.3 Posting and Bidding Timeline. For the Capacity

Release business process timing model, only the following

methodologies shall be supported by TRES PALACIOS and provided to

Releasing Customers as choices from which they may select and,

once chosen, shall 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 Customer defined evaluation

methodologies) can be accorded similar timeline evaluation

treatment at TRES PALACIOS' discretion; however, TRES PALACIOS is

not required to offer other choices or similar timeline treatment

for other choices. Further, TRES PALACIOS shall not be held to

the timeline specified in Sections 4.3(a) and 4.3(b) below should

the Releasing Customer elect another method of evaluation. Should

the Releasing Customer elect another method of evaluation, the

timeline specified in Section 4.3(c) below shall apply. The

proposed duration of Customer's release determines the minimum bid

period for the Customer's offer pursuant to this Section 4. The

Capacity Release timeline is applicable to all parties involved in

the Capacity Release process; however, it is only applicable if

(i) all information provided by the parties to the transaction is

valid and the Replacement Customer has been determined to be

creditworthy before the capacity release bid is tendered and (ii)

there are no special terms or conditions of the release.

 

The Capacity Release timeline is as follows:

 

(a) For standard releases of less than one (1) year:

 

- Offers shall be tendered by 12:00 p.m. CCT on a Business Day;

- The bid period shall end at 1:00 p.m. CCT on the same Business

Day or at 1:00 p.m. CCT on any subsequent Business Day as

specified in Releasing Customer's offer, whichever is elected by

Releasing Customer;

- Evaluation period begins at 1:00 p.m. CCT on the Day the bid

period ends, during which contingency is eliminated, determination

of best bid is made, and ties are broken;

- Evaluation period ends and award is posted if no match is

required at 2:00 p.m. CCT the same Day;

- If the Prearranged Replacement Customer's bid is not the "best

bid", TRES PALACIOS shall allow such Prearranged Replacement

Customer a Matching Period of thirty (30) minutes from 2:00 p.m.

until 2:30 p.m. CCT on the Day the Bid Period ends, or such later

time as specified in the Releasing Customer's offer, to determine

whether to match the "best bid" and to notify TRES PALACIOS of its

decision.

- If a match is required, the award will be posted by 3:00 p.m.

CCT.