Pine Needle LNG Company, LLC

Original Volume No. 1

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Effective Date: 01/01/2003, Docket: RP01-243-001, Status: Effective

Substitute First Revised Sheet No. 73 Substitute First Revised Sheet No. 73 : Effective

Superseding: First Revised Original Sheet No. 73

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

20. CAPACITY RELEASE (Continued)

 

20.7 Submission of Offers and Bids

 

(e) Potential Customers bidding for capacity shall have access to other potential

Customers' bids, excluding bidder's identity, during the bidding process.

 

(f) Releasing Customer may not extend the bid period or the prearranged deal match

period, without posting a new release.

 

(g) For prearranged capacity releases, the Releasing Customer must submit both the

offer and the bid. The Replacement Customer must confirm the prearranged

capacity release by accepting the prearranged bid prior to Pine Needle awarding

such released capacity.

 

(h) The term of the release shall be for a fixed period and shall not continue beyond

such term.

 

20.8 Capacity Release Agreements

 

Once released capacity has been awarded, the terms of the award, which shall be based

on the Releasing Customer's offer to release the capacity and the Replacement

Customer's bid for the capacity, and the provisions of Pine Needle's applicable Form

of Service Agreement shall together establish and constitute the contractual

relationship between Pine Needle and the Replacement Customer governing the released

capacity, with the terms of the award supplying the necessary information to complete

the applicable Form of Service Agreement. In that regard, the Replacement Customer

specifically agrees to follow Pine Needle's nomination deadlines, as set forth in

Section 17.1 of these General Terms and Conditions. Such contracting process shall be

accomplished through Pine Needle's EBB.

 

20.9 Posting Periods

 

The Capacity Release Timeline is applicable to all parties involved in the Capacity

Release process; however, it is only applicable if 1) all information provided by the

parties to the transaction is valid, 2) there are no special terms or conditions of

the release, and 3) for purposes of determining the Best Bid, the methodology

specified by the Releasing Customer is either highest rate, net revenue, or present

value.

 

(a) For Short-Term Releases (less than one year) subject to bid:

(All times are Central Clock Time)