Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 06/09/2006, Docket: RP06-355-000, Status: Effective

Seventh Revised Sheet No. 3706 Seventh Revised Sheet No. 3706 : Effective

Superseding: Sixth Revised Sheet No. 3706

GENERAL TERMS AND CONDITIONS

Section 30

(Continued)

 

(ii) Gulf South will post a notice announcing the date(s)

of the interactive auction for the firm storage

capacity. In no instance will this notice be less

than 48 hours prior to the commencement of the

auction. The notice will outline the auction start

times and all steps necessary to participate / bid in

the auction.

 

(c) Before a Potential Customer ("Bidder") can submit a bid,

it must satisfy Gulf South's requirements as set forth in

Section 5. Bids shall be binding upon the Bidder.

 

(d) Gulf South will accept bids for FSS capacity through an

interactive auction conducted through its Internet Web

Site. If more than one Customer holds FSS capacity, a

separate auction will be conducted for each Customer's ROFR

capacity ("Package"). The Packages will be auctioned

within specified sequential time periods as set forth in

the notice provided in Section 30.3(b)(ii).

 

(3) Gulf South reserves the right to reject any bid

which would require it to offer firm storage

service at a rate unacceptable to Gulf South.

 

(4) At the end of the bid period, Gulf South shall

provide the Customer with the terms of the bid

that Gulf South is willing to accept ("Winning

Bid"). Gulf South will determine the Winning

Bid based upon the bid(s) which has the

highest rate per Dth, up to the total Package

capacity. Gulf South shall provide the

original Customer with any and all terms of

the Winning Bid, but shall not identify the

winning customer.