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

(Continued)

 

 

20. CAPACITY RELEASE (Continued)

 

20.9 Posting Periods (Continued)

 

(a) (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

Needle's approval.

 

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

broken.

 

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

expires.

 

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).