Gulf South Pipeline Company L P

Sixth Revised Volume No. 1

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Effective Date: 07/30/2001, Docket: RP01-463-001, Status: Effective

Substitute Second Revised Sheet No. 4000 Substitute Second Revised Sheet No. 4000 : Effective

Superseding: First Revised Sheet No. 4000

 

GENERAL TERMS AND CONDITIONS

Section 33

 

33. Interactive Auction Procedures

 

(a) Gulf South shall auction all PAL and ISS transactions via its

Internet Web Site where the first action under the transaction is

an injection/park or withdrawal/lend that occurs in a month being

actively traded on the New York Mercantile Exchange on the day the

auction is conducted.

 

(b) Gulf South will auction all ISS/PAL capacity requested by a

Customer ("Package") if an agreement between Gulf South and

Customer on a minimum price for the Package is reached. Gulf

South may also auction any other capacity that it desires to

auction.

 

Gulf South will by 10:00 a.m. provide notice by posting on its

Internet Web Site that an auction will occur that day. The notice

will include the following information:

 

(i) the rate schedule for this service;

 

(ii) the quantity;

 

(iii) the term, including injection/park and withdrawal/lend

periods;

 

(iv) the rate form of the bid (recourse rate or negotiated rate).

 

 

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

have satisfied Gulf South's credit requirements as set forth in

Section 5.

 

(d) If more than one Package has been noticed pursuant to 33(b), a

separate auction will be conducted for each Package. Further,

packages for PAL capacity will be auctioned separately from ISS

capacity. The Packages will be auctioned during a ten-minute

bidding period established by the notice.

 

(e) Gulf South will auction recourse rate transactions and negotiated

rate transactions in separate auctions.