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.