Phillips Gas Pipeline Company

First Revised Volume No. 1

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Effective Date: / / , Docket: RS92- 47-002, Status: Effective

Original Sheet No. 67 Original Sheet No. 67 : Superseded

(a) a means to advertise for: (i) a Releasing Shipper

desiring to release all or a portion of its firm

transportation rights; or (ii) a Potential

Replacement Shipper desiring to purchase such

transportation rights in accordance with Section

21.3 and 21.4 of PGPL's First Revised Volume No.

1 Tariff;

(b) a means for posting results of prearranged deals for

capacity releases of less than thirty (30) days. Said

results shall be posted on the EBB within forty-

eight (48) hours after the transaction commences;

(c) a means for a party to post notice of its desire to

purchase capacity should such become available;

(d) a means for posting Order 497 compliance

information as reported on Form 492;

(e) a periodic purging of information on completed

transactions from current files; and

(f) the display of most recent entries ahead of

information posted earlier.

22.3 Bid Submission: Parties wishing to bid on released

capacity shall post their bids through the EBB. Any third

party, assignee, Replacement Shipper or other party who

acquires released capacity pursuant to the Capacity

Release Program set forth in Section 21 hereof, must

adhere to all terms and provisions of this PGPL FERC

Gas Tariff, First Revised Volume No. 1.

22.4 Information: The EBB shall contain information

concerning the availability of capacity:

(a) at receipt points;

(b) on the mainline;

(c) at delivery points; and

(d) whether the capacity is available from PGPL

directly or through PGPL's Capacity Release

Program set forth in Section 21.