Saltville Gas Storage Company L.L.C.

Original Volume No. 1

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Effective Date: 02/07/2008, Docket: RP08-156-000, Status: Effective

Second Revised Sheet No. 44 Second Revised Sheet No. 44 : Effective

Superseding: First Revised Sheet No. 44

 

ISS RATE SCHEDULE

INTERRUPTIBLE STORAGE SERVICE

(Continued)

 

If Customer fails to comply with the notice given in accordance with

this section, Saltville shall cash out the balance quantity that

Customer was advised, but failed to reduce or eliminate, at the "Gas

Daily" Columbia App. Midpoint Index plus ten percent (10%) for negative

Interruptible Storage Balances or the "Gas Daily" Columbia App. Midpoint

Index less ten percent (10%) for positive Interruptible Storage

Balances.

 

Saltville may issue a notice requiring any Customer with an

Interruptible Storage Balance of less than 50 Dth to eliminate its

existing Interruptible Storage Balance within thirty (30) Days. Such

notice shall be issued by Saltville to Customer via facsimile. If

Customer fails to comply with this notice, any positive Interruptible

Storage Balance remaining after thirty (30) Days will be cashed out at

80% of the "Gas Daily" Columbia App. Midpoint Index calculated during

the thirty (30) Day period, and any negative Interruptible Storage

Balance remaining after thirty (30) Days will be cashed out at 120% of

highest "Gas Daily" Columbia App. Midpoint Index calculated during the

thirty (30) Day period.

 

In the event that the prices referenced in this Section 7 are no longer

available or valid, Saltville will file to change its tariff and may, at

its discretion, select a representative price in the interim period,

subject to refund. In the event that a more representative posting is

established, Saltville will file to change its tariff to incorporate

that posting.

 

8. EXPIRATION OF TERM

 

At least ten (10) Business Days prior to the end of the primary term or

any renewed term of Customer's Interruptible Service Agreement,

Saltville shall notify Customer to withdraw all of the Interruptible

storage quantities held by Saltville for the account of Customer

pursuant to such agreement. Saltville's notice to Customer may be given

via telephone, but shall be confirmed in writing via e-mail or facsimile

to Customer. Before the end of the contract term, Customer must either

physically withdraw the storage quantities or indicate to Saltville in

writing that it desires to have Saltville cash out the storage

quantities on mutually agreeable terms. If, by the end of the Gas Day

that is the last Day of the contract term, Customer neither has

withdrawn the storage quantities nor indicated in writing to Saltville

that it desires to exercise the cash out option, then Saltville may

take, free and clear of any adverse claims, title to such Interruptible

storage quantities as Customer was required, but failed, to withdraw or

cash out; provided, however, that only those quantities not withdrawn or

cashed out on mutually agreeable terms shall become the property of

Saltville, free and clear of any adverse claims. If Customer was unable

to withdraw its Interruptible storage quantities due to an interruption

of Customer's withdrawal service during the last ten Days before

termination, Customer shall be allowed to withdraw its storage

quantities within a reasonable period following the end of the contract

term.

 

In the event that Saltville retains and takes title to any of Customer's

storage quantities pursuant to this Section 8, Saltville shall dispose

of such storage quantities by auction and shall credit the net proceeds

received from such auction in accordance with the provisions of Section

29 of the General Terms and Conditions of this FERC Gas Tariff.