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
(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
(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 email@example.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.