Natural Gas Pipeline Company Of America
Seventh Revised Volume No. 1
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Effective Date: 04/18/2008, Docket: RP08-319-000, Status: Effective
Original Sheet No. 287 Original Sheet No. 287 : Pending
GENERAL TERMS AND CONDITIONS
(E) Contingencies, if any, which will be accepted in
open season bids.
(F) Any other bid requirements, conditions, criteria,
restrictions or parameters.
(v) In the Initial Open Season, all bids must be submitted in
the basic rate design then in effect on Natural's system and are
constrained by the applicable maximum and minimum rates. No bid with rates
in the form of a Negotiated Rate or Negotiated Rate Formula will be valid
in an Initial Open Season.
(vi) Natural shall establish a reserve price or reserve price
matrix in every Initial Open Season, consistent with Section 5.1(d)(5).
(vii) Unless otherwise specified in the posting, a bidder may
bid on all or any portion of the term for which the firm capacity is
available and on all or any portion of the capacity available. Natural may
only impose minimum volume or term requirements on bids for operational
reasons, such as maintaining pressure or sustaining the minimum level of
prudent facility operations on any affected portion(s) of its system.
(viii) Natural shall have the right to terminate an Initial Open
Season through a termination posting if there is a material error in the
Initial Open Season posting, which error shall be explained in the
termination posting. A bidder may withdraw a bid for a material error by
notifying Natural by the deadline for bids that the bid contains a material
error, which notification shall explain the material error.
(ix) All bids received during the open season period remain
binding on the bidder through the end of the open season unless withdrawn
by bidder. A bidder may withdraw its bid at any time during the open
season, utilizing the same medium through which a bid can be submitted. A
bidder which has withdrawn a bid may submit a bid with a higher value
during the open season, but neither that bidder nor any of its affiliates
may submit a bid with a lower value than the withdrawn bid, except if the
withdrawn bid was withdrawn due to a material error, during that open
season [value is to be determined applying the criteria in Section 5.1(d),
consistent with the posting for that open season]. If an open season is
extended, a bidder is free to submit a new bid without restriction in the
extended auction even if that bidder withdrew its bid in the original open
season. If a bidder withdraws its bid in an extended open season, the same
rules as in an original open season apply to that bidder. At the end of
any open season, all bids either withdrawn or not accepted shall be deemed
null and void.