Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 05/15/2009, Docket: RP09-511-000, Status: Effective

Third Revised Sheet No. 2708 Third Revised Sheet No. 2708

Superseding: Second Revised Sheet No. 2708

 

GENERAL TERMS AND CONDITIONS

Section 20

(Continued)

 

 

(E) (i) Crediting of Revenue - Gulf South will determine the

cash and volumetric balances of its cash-in / cash-

out program ("Cash Pool") as of June 30 on an annual

basis, including the cash subject to refund

calculation ("Cash Pool Determination"). Gulf South

will file a report with the FERC by September 1 which

provides the results of the Cash Pool Determination

and describes whether a refund is due shippers.

 

In the event the Cash Pool balances include a

positive or zero volumetric gas position and a

positive cash balance, the cash will be subject to

refund in accordance with the provision in subsection

(iii). If the Cash Pool balances include a negative

volumetric gas position and a positive cash balance,

the following formula shall be used to determine the

cash subject to refund in accordance with the

provision in subsection (iii).

(Positive cash balance - (Short gas

position * August NYMEX gas closing

price) = Cash Subject to Refund (if

positive)

Any positive Cash Subject to Refund pursuant to this

provision will be refunded to shippers by September

30 pro rata based on transportation throughput for

the twelve month period ending on June 30. Any

deficiency of cash shall be carried forward to the

next Cash Pool Determination.

 

(ii) Interest will be calculated on the balance in the

Cash Pool in accordance with Section 154.501(d) of

the Commission's Regulations. In the event of a

refund, the interest will be included in the amount

refunded to shippers. In the event of a loss carry

forward, this amount will carry forward to the next

Cash Pool Determination.

 

(iii)Gulf South will carry forward any Cash Subject to

Refund less than $1,500,000. No refund obligation

will exist if the cash balance position is negative.