Gulf South Pipeline Company L P
Sixth Revised Volume No. 1
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Effective Date: 05/05/2003, Docket: RP03- 64-000, Status: Suspended
Third Revised Sheet No. 4000 Third Revised Sheet No. 4000 : Suspended
Superseding: Substitute Second Revised Sheet No. 4000
GENERAL TERMS AND CONDITIONS
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
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
(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 requirements as set forth in
(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.