Saltville Gas Storage Company L.L.C.

Original Volume No. 1

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Effective Date: 10/01/2009, Docket: RP09-953-000, Status: Effective

Third Revised Sheet No. 115 Third Revised Sheet No. 115

Superseding: Second Revised Sheet No. 115

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

4.2 Partial Day Release Quantity

 

The daily contractual entitlement that can be released by a

Releasing Customer for a partial Day release is limited to the

lesser of:

 

(i) the quantity contained in the offer submitted by the

Releasing Customer; or

 

(ii) a quantity equal to 1/24th of the Releasing Customer's MDDO,

MDRO, MDIQ and MDWQ for the contract to be released

multiplied by the number of hours between the effective time

of the release and the end of the Gas Day.

 

This allocated daily contractual entitlement shall be used for

purposes of nominations, billing, and if applicable, for overrun

calculations.

 

The MSQ that can be released by a Releasing Customer for a

partial Day release is limited to a quantity not in excess of the

Releasing Customer's MSQ less the Releasing Customer's Storage

Inventory.

 

4.3 Posting and Bidding Timeline. For the capacity release business

process timing model, only the following methodologies shall be

supported by Saltville and provided to Releasing Customers as

choices from which they may select and, once chosen, shall be used

in determining the awards from the bid(s) submitted. They are: 1)

highest rate, 2) net revenue and 3) present value. Other choices

of bid evaluation methodology (including other Releasing Customer

defined evaluation methodologies) can be accorded similar timeline

evaluation treatment at Saltville's discretion. However,

Saltville is not required to offer other choices or similar

timeline treatment for other choices. In the event that the

Releasing Customer elects another method of evaluation, the

timeline specified in Section 4.3(c) below shall apply. The

proposed duration of Customer's release determines the minimum bid

period for Customer's offer pursuant to this Section 4. The

Capacity Release timeline is applicable to all parties involved in

the Capacity Release process; however, it is only applicable if

(i) all information provided by the parties to the transaction is

valid and the Replacement Customer has been determined to be

creditworthy before the capacity release bid is tendered and (ii)

there are no special terms or conditions of the release.

Saltville shall post offers and bids, including pre-arranged

deals, upon receipt; provided, however, offers and bids must be

complete before posting. Only posted offers and bids will be

available electronically. If a Releasing Customer requests a

later posting time, Saltville shall support such request insofar

as it comports with the standard timeline. A Releasing Customer

cannot specify an extension of the original bid period or the pre-

arranged deal match period without posting a new release.