Saltville Gas Storage Company L.L.C.

Original Volume No. 1

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Effective Date: 01/01/2009, Docket: RP09-71-000, Status: Effective

Second Revised Sheet No. 120 Second Revised Sheet No. 120

Superseding: First Revised Sheet No. 120

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

(b) Saltville shall evaluate bids in accordance with the bid

evaluation method identified, pursuant to Section 4.1(g) of

these General Terms and Conditions, in the Releasing

Customer's offer to release capacity.

 

(1) If there is only one valid bid, Saltville shall award

the capacity to the bidder that submitted such bid,

subject to any Prearranged Customer's exercise of its

matching rights.

 

(2) If there is more than one valid bid, then, subject to

any Prearranged Customer's exercise of its matching

rights, Saltville shall award the capacity to the

bidder whose bid yields the highest value based on the

bid evaluation method specified in the Releasing

Customer's offer to release capacity, taking into

account the price, volume and term of the bid, as

applicable. If more than one bid yields the same

value under this subsection (2), Saltville shall award

the capacity according to the method specified in the

Releasing Customer's Notice ("Tie Break Method") as a

means for awarding the released capacity among

multiple equal bids.

 

(3) For purposes of determining the value of a bid,

Saltville shall use only the reservation charge

(including reservation charges stated on a volumetric

basis). If the bid evaluation method specified by the

Releasing Customer is present value, Saltville shall

use a discount rate of ten (10) percent.

 

(4) If the winning bid is a contingent bid, the bidder

that submitted such contingent bid will be required to

satisfy or eliminate any contingency in accordance

with the capacity release timeline set forth in

Section 4.3 or in the Releasing Customer's Offer, as

applicable, and shall confirm to Saltville via e-mail

to link-help@spectraenergy.com that the contingency

has been satisfied or eliminated. In the event that

such bidder fails to satisfy or eliminate its

contingency pursuant to this subsection (4), the

capacity will be awarded to the next highest bidder(s)

as determined pursuant to Section 4.7(b).

 

(c) In the event that Prearranged Customer desires to exercise

its right to match the "best bid," Prearranged Customer must

notify Saltville via the LINK® System.