Young Gas Storage Company, Ltd.

Original Volume No. 1

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Effective Date: 08/01/2010, Docket: RP10-921-000, Status: Effective

Third Revised Sheet No. 83A Third Revised Sheet No. 83A

Superseding: Second Revised Sheet No. 83A

 

GENERAL TERMS AND CONDITIONS

(Continued)

9.12 (Continued)

 

(b) Releasing Shipper(s) may withdraw their offer of release any

time prior to the start of the open season or during the open

season in the event of an unexpected change in the Releasing

Shipper's need for the capacity being released up to the time a

valid bid is received. The Releasing Shipper may not withdraw

its offer of release, however, if bids have been received that

meet the minimum terms of the release; the Releasing Shipper

may withdraw its offer to release capacity in writing,

interactively via the electronic bulletin board, or via an EDI

upload utilizing the NAESB Standard data set.

 

(c) If more than one bid is received that is equal to or exceeds

all the minimum terms and conditions specified in Releasing

Shipper's notice, then Replacement Shipper(s) shall be the

Bidding Shipper(s) who offer(s) the highest bid, based on the

bid evaluation methods as posted by Releasing Shipper in its

notice of release. Transporter shall evaluate and rank all bids

submitted during the open season. If bids from two or more

Bidding Shippers result in bids of equal value, then the

capacity shall be awarded pursuant to Section 9.12(g) hereof.

If Bidding Shipper has made a bid based on a contingency and

such contingency has not been removed by the date and time

specified by Releasing Shipper or pursuant to the Timelines in

Section 9.5 hereof, such bid shall be deemed withdrawn.

 

(d) Bid Evaluation Methods. All bids received will be evaluated

pursuant to the following methods:

 

(i) Present Value Calculation. Releasing Shipper may elect

to have all bids evaluated and ranked pursuant to a

Present Value Calculation as follows:

 

1 - (1 + i)^-n

R x ----------- x V = present value

i

 

where: i = interest rate using Transporter's return on equity in

its currently effective rates

n = term of the release

R = the Reservation Rates bid

V = Quantity stated in Dth