Maritimes & Northeast Pipeline, L.L.C.
First Revised Volume No. 1
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Effective Date: 06/01/2010, Docket: RP10-728-000, Status: Effective
First Revised Sheet No. 9T First Revised Sheet No. 9T
Superseding: Original Sheet No. 9T
STATEMENT OF NEGOTIATED RATES
Customer Name: Excelerate Gas Marketing, Limited Partnership
Contract Number: 210165 (continued)
4/ Minimum Revenue Payment ("MRP"): In the event that Customer does not
transport under the Service Agreement by the end of the Gas Day on
November 30, 2010, aggregate quantities which generate at least USD $3
million in revenue to Pipeline ("Year 1 MRP"), then Customer shall pay
to Pipeline the positive difference between the Year 1 MRP and the
amount owed to Pipeline for the actual quantities transported under the
Service Agreement. Further, in the event that Customer does not
transport under the Service Agreement during the period extending from
the beginning of the Gas Day on December 1, 2010 through the end of the
Gas Day on November 30, 2011 aggregate quantities which generate at
least USD $1 million in revenue to Pipeline ("Year 2 MRP"), then
Customer shall pay to Pipeline the positive difference between the Year
2 MRP and the amount owed to Pipeline for the actual quantities
transported under the Service Agreement. Any amount paid to Pipeline
for actual quantities delivered in the Year 1 MRP in excess of
Customer's Year 1 MRP of USD $3 million will be applied against
Customer's Year 2 MRP of USD $1 million.
5/ Minimum Revenue Payment Crediting: In addition, during the period from
December 1, 2009 and the end of the Year 2 MRP period any incremental
revenue amounts paid to Pipeline by Pipeline's other customers for
actual quantities delivered under interruptible transportation service
agreements from the existing system Receipt Point at Beverly,
Massachusetts to existing delivery points upstream or downstream of
Methuen, Massachusetts on the non-Phase III portion of Pipeline's
system will be credited against the MRP; provided, such credit shall
also apply to incremental revenue amounts paid to Pipeline by other
customers for such flows under firm transportation service agreements
having a Primary Receipt Point for the entire MDTQ thereunder at
Beverly, Massachusetts and Primary Delivery Points upstream or
downstream of Methuen, Massachusetts on the non-Phase III portion of
Pipeline's system; provided further, in no event will the MRP be
reduced below USD $0.00.
6/ No Refund Obligations: If, at any time and from time to time during
the term of this Statement, Pipeline is collecting its effective
maximum recourse rates subject to refund under Section 4 of the Natural
Gas Act ("NGA"), Pipeline shall have no refund obligation to Customer
even if the final maximum recourse rates are reduced to a level below
the Negotiated Rates set forth herein. Customer's right to receive
credits relating to Pipeline's penalty revenue or other similar
revenue, if any, applicable to transportation service on Pipeline's
system shall be governed by Pipeline's Tariff and any applicable FERC
orders and/or regulations.
7/ Term: This negotiated rate shall be effective on December 18, 2009 and
shall remain in effect until November 30, 2013, at which time, unless
Pipeline and Customer mutually agree on an alternative rate, the
applicable rate for service under the Service Agreement shall be the
maximum recourse rates, Fuel Retainage Percentage and all other
applicable charges and surcharges set forth in the Tariff, as amended
from time to time. Notwithstanding the foregoing, the effectiveness of
this Statement and all terms set forth herein, with the exception of
the Contingent MRP provision set forth in Footnote 13, shall be
suspended as of June 1, 2010 and shall remain suspended until the
earlier of (i) November 30, 2013 or (ii) the date on which Customer
provides Pipeline with the Termination Notice as defined in the tariff
sheets reflecting the Statement of Negotiated Rates between [Barclays]
("Barclays") and Pipeline effective June 1, 2010 ("Barclays Statement
of Negotiated Rates").