Pine Needle LNG Company, LLC
Original Volume No. 1
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Effective Date: 01/01/2003, Docket: RP01-243-000, Status: Effective
First Revised Sheet No. 74 First Revised Sheet No. 74 : Effective
Superseding: Original Sheet No. 74
GENERAL TERMS AND CONDITIONS
20. CAPACITY RELEASE (Continued)
20.9 Posting Periods (Continued)
12:00 noon Releasing Customers must input offers subject to bid to release firm
capacity on a business day (and Pre-Arranged Replacement Customer's
Bid information if applicable) in the Capacity Release product on
Pine Needle's EBB or through electronic data interchange for Pine
1:00 p.m. Bidding period closes for all applicable offers on a business day.
Evaluation period begins. During the evaluation period, contingency
bids are eliminated, determination of best bid is made, and ties are
2:00 p.m. Evaluation period ends. Pine Needle identifies the highest
bidder(s); or notifies Pre-Arranged Customer of right to match the
best bid pursuant to Section 20.5(i).
2:30 p.m. Pre-Arranged Replacement Customer's right to match the best bid
3:00 p.m. Post awarded release to Replacement Customer.
4:00 p.m. Pine Needle shall make Replacement Customer's contract available for
nominations at the earliest nomination opportunity after the
acquisition of capacity.
A release under this Section 20.9(a), in which the Replacement Customer's
contract is awarded the same day as the effective date of the capacity release,
may be pro-rated for the initial day of the release such that the Releasing
Customer may only release one half of its contract entitlement for the initial
day of the release. The Replacement Customer may then submit nominations for
the ID2 nomination cycle (consistent with Section 17.1).