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

Original Sheet No. 9W Original Sheet No. 9W

 

STATEMENT OF NEGOTIATED RATES

 

Customer Name: Barclays Capital Energy Inc.

 

Contract Number: 210164 (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.