Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 12/31/2000, Docket: GT01- 6-000, Status: Effective

Original Sheet No. 2704 Original Sheet No. 2704 : Effective

 

GENERAL TERMS AND CONDITIONS

Section 20

(Continued)

 

 

(a) Such credit will be calculated by multiplying

the imbalance by the index "buy" price

calculated above multiplied by each of the

following factors for the applicable percentage

range:

 

Imbalance Level Factor

0% to 10% 1.00

above 10% to 15% .75

Greater than 15% .50

 

The imbalance level will be calculated by

dividing the imbalance by the actual receipt

quantities. The NNS or NNS-SCO imbalance level

will be calculated by dividing the imbalance by

the Maximum Storage Quantity (MSQ) of the NNS

or NNS-SCO contract.

 

(b) If the credit calculated above exceeds the

total charges on the invoice, Gulf South will

deduct any previously unpaid amounts from prior

invoices and pay Customer on or before the 25th

of the month.

 

(C) Cash Settlement to Eliminate Imbalances for Prior Period

Adjustments - Subject to the rights in Section 20.1 (A),

Trading Methods, and after the period provided to the

Customer to correct any prior period adjustment (PPA)

imbalance as described in Section 20.1, Gulf South shall

provide an invoice credit for PPA quantities that are over-

received and an invoice charge for PPA quantities that are

over-delivered. If the PPA imbalance is in the opposite

position than the original imbalance (i.e. original

position was short and PPA was long or vice versa), then

the PPA imbalance will be credited or charged at the

original "Buy" or "Sell" price, up to the original

imbalance quantities. If an imbalance remains after the

original imbalance is reversed, then the remaining PPA

imbalance will be credited or charged at the "Midpoint"

price. If the PPA imbalance is in the same position as the

original imbalance, or if there was no original imbalance

then the PPA imbalance will be credited or charged at the

"Midpoint" price.