Canyon Creek Compression Company

Third Revised Volume No. 1

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Effective Date: 12/01/1993, Docket: RS92- 57-003, Status: Effective

Original Sheet No. 129 Original Sheet No. 129 : Effective

 

GENERAL TERMS AND CONDITIONS

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(c) Following the ten (10) day period for offsetting

imbalances, Shippers with remaining imbalances shall pay Canyon or

will be credited with the appropriate cashout amounts.

 

(d) In the event "Natural Gas Week" ceases to publish

entirely or fails to publish the index price listed in subsection

(b) above, the following procedures shall apply in determining a

month's AMIP:

 

(1) Should, in any given week, "Natural Gas Week"

fail to publish the index price used in determining that week's WIP,

there will be no WIP for that week used in determining the month's

AMIP.

 

(2) Should, in a given month, there be less than

two WIP's available for the AMIP calculation, the following

alternate AMIP procedures will apply: The AMIP will be defined as

the arithmetic average of:

 

(i) The closing price for the NYMEX natural

gas futures contract applicable to the month in which the imbalance

was created (i.e., the price at which that month's contract "went

off the board"); and

 

(ii) The individual daily closing prices for

the following month ("spot month" or "near month") NYMEX natural gas

contract during the month in which the imbalance was created, up to

and including the day the "spot month" contract "goes off the

board."

 

12.4 CREDITING OF CASHOUT REVENUES IN EXCESS OF COSTS

 

(a) This Section of the General Terms and Conditions

sets forth the procedures under which Canyon will credit or carry

forward, for each annual billing period, any difference between the

revenues received by Canyon and the costs incurred by Canyon under

the cashout provisions of Canyon's firm and interruptible

transportation Rate Schedules. For purposes of this Section 12, an

annual billing period shall be the twelve (12) month period

commencing each December 1 and ending the following November 30 with

the first such annual billing period commencing December 1, 1993 and

ending November 30, 1994.