Midwest Gas Storage, Inc.

First Revised Volume No. 1

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Effective Date: 05/15/1994, Docket: CP90-454-004, Status: Effective

Original Sheet No. 527 Original Sheet No. 527 : Effective

 

 

electronic bulletin board for bid. Midwest will

accept for evaluation bids for this capacity from the

time of posting up to and including, but no later

than, the forty-fifth (45) day prior to the date the

existing Agreement is scheduled to expire. After the

close of the bid period, Midwest will evaluate the

bids according to the formula set forth in Section

8.4(d)(i) of Rate Schedule FSS to determine the bid

which has the greatest economic value. For the

purpose of this evaluation, no bid term may exceed 20

years.

 

(c) Awarding of Capacity Within five (5) business days of

the date bidding ends, Midwest will notify Shipper of

the bid received having the greatest economic value.

Shipper will then have ten (10) business days to

notify Midwest whether it will match the rate and term

(up to 20 years) offered in the best bid, and, if so,

will execute a new service Agreement matching the

offer prior to the termination of the existing

Agreement. Midwest, shall not, however, be obligated

to enter into an extension of any Agreement or

continue service at any rate less than Midwest's

maximum applicable rates in effect at the time of

renewal, nor shall Midwest be obligated to enter into

an extension of any Replacement Shipper who fails to

meet the Creditworthiness requirements set forth in

Section 12.5 of these General Terms and Conditions.

 

If Shipper fails to match the best bid, Midwest may

offer the capacity to the bidder submitting the best

bid; provided, however, that Midwest shall not be

obligated to enter into an Agreement for that capacity

at any rate less than Midwest's then-effective,

maximum applicable rates, nor shall Midwest be

obligated to enter into an agreement with any bidder

who fails to meet the Creditworthiness requirements

set forth in Section 12.5 of these General Terms and

Conditions.

 

If no bids are received, Shipper may continue to

receive service under a new Agreement for whatever

term it chooses; provided, however, that Shipper