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. 3608 Original Sheet No. 3608 : Effective

 

 

GENERAL TERMS AND CONDITIONS

Section 29

(Continued)

 

Pursuant to Section 29.1(C), Gulf South shall post on

the Internet Web Site the winning bid(s) and the

winning bidder'(s) name. The best bid information

shall remain on the Internet Web Site for ninety (90)

days. Capacity Release historical data shall be made

available on a consistent basis from Gulf South,

which shall provide for retrieval of open and closed

offers during the FERC archival period.

 

(D) "Best Bid"

 

A Releasing Customer may specify an economic standard for

determining the "best bid", which standard shall be posted

on the Internet Web Site. Except as otherwise provided in

Section 23, any economic standard for determining the "best

bid" specified by a Releasing Customer will only consider

the reservation charge and any applicable reservation

surcharges and must be objectively stated, applicable to all

Potential Customers, and non-discriminatory. Releasing

Customer shall indemnify and hold Gulf South harmless from

and against all demands, claims, causes of action and/or

damages suffered or incurred by Gulf South arising out of or

related to any determination of a "best bid" pursuant to any

economic standard specified, supplied, approved or provided

by Releasing Customer, unless Gulf South's actions in

administering the capacity release program amount to

negligence or willful misconduct. In the event the

Releasing Customer does not specify a standard to be applied

in determining the "best bid", Gulf South will select the

"best bid" based on the bid which generates the highest

present value. Present value will be calculated based on a

discount rate equivalent to a fifteen percent (15%) pre-tax

rate of return for Gulf South. If two or more bids are

equivalent based upon the "best bid" criteria described

above, then the bid with the shortest term will be the

"best bid". If the bids are identical, then the bid

submitted first in time will be designated the "best bid"

unless the Releasing Customer identified an alternate method

when it established the conditions of the release.