Oktex Pipeline Company

Original Volume No. 1

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Effective Date: 05/01/2001, Docket: RP01-403-000, Status: Effective

Fourth Revised Sheet No. 40C Fourth Revised Sheet No. 40C : Effective

Superseding: Third Revised Sheet No. 40C

period ends. The releasing party has the right to withdraw its offer during

the bid period, where unanticipated circumstances justify and no minimum bid

has been made. A releasing shipper should not be able to specify an extension

of the original bid period or the pre-arranged deal match period, without

posting a new release. Once a bid is withdrawn, then the potential shipper

may not submit another bid at a lower price; the potential shipper may submit

another bid at a higher price, but such bid must be submitted prior to close

of bid period.

 

6. At the close of the Bid Period as provided in Schedule B, Transporter

shall select among the bids received pursuant to Article XXXIII from potential

shippers the "best bid", as determined by Shipper's designated methodology, or

if no methodology specified by the Shipper then the best bid will be

determined in accordance with Section 5 of Article XXXII. For the capacity

release business process timing model, only the following methodologies are

required to be supported by capacity release service providers and provided to

releasing shippers as choices from which they may select and, once choosen,

should be used in determing the awards from the bid(s) submitted. They are:

1) highest rate, 2) net revenue and 3) present value. Other Choices of bid

evaluation methodologies) can be accorded similar timeline evaluation

treatment at the discretion of the capacity release service provider.

However, the capacity release service provider is not required to offer other

choices or similar timeline treatment for other choices, nor, is the capacity

release service provider held to the timeline should the releasing shipper

elect another method of evaluation. Transporter will give any potential

shipper found by the Shipper an opportunity to match or exceed the "best bid"

via the IPP in accordance with the provisions of Schedule B. If the potential

shipper matches the "best bid", the released capacity will be allocated to the

potential shipper who submitted the "best bid" first in time. For purposes of

the preceding sentence, all "best bids" submitted shall be allocated to the

potential shipper who submitted the "best bid" first in time. Releasing

shipper has choice to specify dollars and cents or percents of maximum tariff

rate in the denomination of bids and all transportation service provides

should support this. Once the choice is made by the releasing shipper, the

bids should comport with the choice. When the capacity release service

provider makes awards of capacity for which there have been multiple bids

meeting minimum conditions, the capacity release facilitator should award the

bids, best bid first, until all offered capacity is awarded.

 

7. Transporter shall notify the potential shipper(s) selected in

accordance with the provisions of Schedule B of the acceptance of its bid

("winning bid") and provide notice to all bidders of the "winning bid" via the

IPP in accordance with the provisions of Schedule B. The notice posted to the

IPP will contain all of the information submitted in selected potential

shipper's Bid Notice. Reput methods and rights should be specified at the

time of the deal . Reput method and rights are individually negotiated

between the releasing shipper and replacement shipper. Release quantity

should be expressed as a numeric quantity only. Basis for released quantity

should be per day for transportation, storage injection, storage withdraw, and

a per-release quantity for storage capacity and total release period quantity.

Capacity release facilitator should post offers and bids, including

prearranged deals, upon receipt unless releasing shipper requests otherwise.

If releasing shipper requests a posting time, the capacity release service

facilitator should support