Phillips Gas Pipeline Company

First Revised Volume No. 1

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

Original Sheet No. 64 Original Sheet No. 64 : Effective

submitting the best bid, as determined by PGPL,

based upon the applicable criteria. Invalid bids will

be rejected.

(c) When capacity is released under the allocation

method specified in Section 21.6(a)(1) above,

PGPL shall post the winning bid on the EBB within

two (2) business days of the close of the applicable

open season set forth in Section 21.4(b). When

capacity is released under the allocation methods

specified in either Section 21.6 (a)(2) or (a)(3)

above, the terms of the proposed transaction shall

be posted on PGPL's EBB, and PGPL will post the

winning bid on the EBB within two (2) business

days. Any Potential Replacement Shipper who

submits the winning bid for the posted released

capacity shall be obligated to execute a firm Service

Agreement for such posted capacity at its bid price.

All other terms and conditions of said Service

Agreement must be identical to the Releasing

Shipper's commitment. Such firm Service

Agreement must be executed by the Potential

Replacement Shipper no later than two (2) weeks

after the winner is posted on the EBB. The

Potential Replacement Shipper may execute said

Agreement as soon as notification of the winning

bid is made in order to commence service on the

proposed release date, as determined by the

Releasing Shipper.

(d) Within forty-eight (48) hours of the determination

of the winning bidder, PGPL shall post the

following information regarding the transaction on

its EBB: (i) the identity of the winning bidder; (ii)

term; (iii) the winning bid price and any other

price(s); (iv) primary receipt and delivery points;

(v) volume in Mcf; (vi) whether capacity is firm or

recallable; and (vii) whether the assignee is an

affiliate of either PGPL or the releasing Shipper.