Pine Needle LNG Company, LLC

Original Volume No. 1

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Effective Date: 02/22/2009, Docket: RP09-239-000, Status: Effective

Second Revised Sheet No. 68 Second Revised Sheet No. 68

Superseding: First Revised Sheet No. 68

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

 

20. CAPACITY RELEASE (Continued)

 

20.2 Definitions. The definitions of terms applicable to this section are as follows:

 

(a) Releasable Firm Capacity Entitlements - Firm storage capacity entitlements (and

service associated vaporization and liquefaction entitlements) as described in a

Releasing Customer's agreement.

 

(b) Prearranged Release - Arrangement by a Releasing Customer for a specific

Replacement Customer to obtain the Releasing Customer's released capacity.

 

(c) Recall Rights - Conditions under which the right to the released capacity reverts

from the last Replacement Customer to a Releasing Customer who specified such

conditions. Such conditions must be objectively stated, non-discriminatory and

applicable to all potential Replacement Customers.

 

(d) Best Bid - Potential Replacement Customers who qualify for bidding pursuant to

Section 20.7(b) hereunder ("bidders") shall be allowed to submit bids for

capacity. Within 1 hour after the close of the bidding period, Pine Needle shall

determine the Best Bid based on the Releasing Customer's objective criteria and

shall report same to the Releasing Customer. If the Releasing Customer does not

provide the objective criteria to be used for selecting the Best Bid, then Pine

Needle's objective criteria for Best Bid shall be used as set forth in Section

20.11. If the Releasing Customer does not provide a tie-breaking methodology,

then Pine Needle's tie-breaking methodology shall be used as set forth in Section

20.11. The terms of the winning bid shall be posted by Pine Needle on Pine

Needle's EBB and such posting shall include the following information:

 

(i) The identity of the Releasing Customer.

 

(ii) The identity of the Replacement Customer.

 

(iii) The term of the release.

 

(iv) The daily demand charge per Dt of vaporization quantity entitlement

applicable to the capacity.

 

(v) All conditions of release objectively stated including, but not limited

to, any recall conditions.

 

(vi) The specific quantity of capacity released.

 

(vii) Whether the release is to an asset manager as defined in Section

284.8(h)(3) of the Commission's Regulations and, if so, the asset

manager's obligation to deliver gas to, or purchase gas from, the

releasing shipper including the volumetric level of the obligation and

the time periods the obligation is in effect.

 

(viii) Whether the release is to a marketer participating in a state-regulated

retail access program as defined in Section 284.8(h)(4) of the

Commission's Regulations.