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. 54 Second Revised Sheet No. 54 : Effective

Superseding: First Revised Sheet No. 54

 

IPS RATE SCHEDULE

INTERRUPTIBLE PARK 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

Park Balances or the "Gas Daily" Columbia App. Midpoint Index less ten

percent (10%) for positive Park Balances.

 

Saltville may issue a notice requiring any Customer with a Park Balance

of less than 50 Dth to eliminate its existing Park 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

Park 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 Park 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 term as

specified in Customer's Interruptible Service Agreement, Saltville

shall notify Customer to withdraw all of the Park Balance held by

Saltville for the account of Customer; provided, however, any Park

Balance as specified in Exhibit A of Customer's Interruptible Storage

Service Agreement that has a term of ten (10) Business Days or less

shall not require such foregoing notice but shall be deemed to have been

given upon the first Day of the primary term or the renewed term of such

Agreement. Saltville's notice to Customer may be given via telephone,

but shall be confirmed in writing via e-mail or facsimile to the

Customer. Before the end of the term of Customer's Interruptible

Service Agreement, the Customer must either physically withdraw the Park

Balance or indicate to Saltville in writing that it desires to have

Saltville cash out the Park Balance on mutually agreeable terms. If, by

the end of the Gas Day that is the last Day of the term as specified in

Exhibit A of Customer's Interruptible Service Agreement, the Customer

neither has withdrawn the Park Balance 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

Park Balance 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 Park Balance due to an interruption of Customer's

withdrawal service during the last ten Days before termination, Customer

shall be allowed to withdraw its Gas within a reasonable period

following the end of the contract term.