Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 06/19/2003, Docket: RP03-213-000, Status: Effective

Original Sheet No. 1420 Original Sheet No. 1420 : Superseded

 

GENERAL TERMS AND CONDITIONS

Section 7

(Continued)

 

(5) At the end of the bid period, Gulf South will

determine the "Winning Bid" based upon the bid(s) that

has the highest rate per Dth., up to the total Package

capacity. If Gulf South receives two or more equal

bids that would qualify as the Winning Bid(s) for the

capacity being auctioned, Gulf South will award to

each Bidder its total bid if the total capacity of the

combined Winning Bids is equal to or less than the

total Package capacity available. If the total

capacity of the combined Winning Bids is greater than

the total Package capacity available, Gulf South will

allocate the volumes between Bidders based upon their

pro rata Winning Bid volume.

 

(6) Steps (1) through (5) above will occur for each

Package of FSS capacity and will be completed before

the subsequent Package of capacity is auctioned. This

process will continue until all Packages included in

the notice have been auctioned.

 

(f) Gulf South shall notify the winning Bidder by telephone

within 10 minutes following the close of the auction. The

winning Bidder shall, within 10 minutes of notification,

accept the capacity by notifying Gulf South by telephone.

Any winning Bidder not accepting its bid prior to the 10-

minute deadline will forfeit its capacity and Gulf South

will award the forfeited capacity to the next highest

Bidder. The next highest Bidder will then accept its

capacity within 10 minutes of notification or forfeit the

capacity.