Phillips Gas Pipeline Company

First Revised Volume No. 1

Effective Date: 06/01/1993, Docket: RS92- 47-003, Status: Effective

Original Sheet No. 62 Original Sheet No. 62 : Effective

(3) For capacity to be released for a term of

more than two (2) years an open season of

four (4) weeks shall be held commencing at

least eight (8) weeks prior to the effective

date of the release. If the released capacity

was subject to a prearrangement and the

open season results in a higher bid as

determined under Section 21.5, PGPL shall

notify the Prearranged Replacement Shipper

via telephone of such higher bid and said

Prearranged Replacement Shipper shall have

twenty (20) business days after posting the

best bid to match such higher bid.

during the applicable bid submittal period,

withdraw its offer to release capacity, provided such

withdrawal is not the result of dissatisfaction with

the bids received.

21.5 Open Bids/Withdrawal of Bids/Contingent Bids

(a) Open Bids - The bidding process shall be open.

(1) During the open season and bid submittal

periods, PGPL will post all valid bids, listing

all pertinent terms and conditions of the

valid bids without posting bidders' names.

(2) A bidder may not have more than one bid

submitted for a given package of released

capacity at the same time, except that it may

withdraw a bid as specified below.

(b) Withdrawal of Bids

(1) A bidder may withdraw a bid for the

released capacity up to: (i) the close of the

open season or bid submittal period or (ii)

the time that capacity is allocated, whichever

first occurs.

(2) Once a bidder has withdrawn its bid, the

bidder may only submit a new bid for that

released capacity at a higher rate.