Maritimes & Northeast Pipeline, L.L.C.

First Revised Volume No. 1

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Effective Date: 08/01/2010, Docket: RP10-948-000, Status: Effective

Fifth Revised Sheet No. 265 Fifth Revised Sheet No. 265

Superseding: Fourth Revised Sheet No. 265

 

GENERAL TERMS AND CONDITIONS

(continued)

 

11. BALANCING (continued)

 

(c) Index Price. The Index Price for purposes of resolving imbalances

shall be determined by calculating the arithmetical average of

Platts Gas Daily "Daily Price Survey" Midpoint prices for "Dracut,

Mass." as such prices are posted for the applicable Month less the

100% load factor Rate Schedule MN365 maximum recourse rate and less

the average monthly fuel cost. The average monthly fuel cost shall

be calculated by multiplying (1) the monthly average of Platts Gas

Daily "Daily Price Survey" Midpoint price for "Dracut, Mass." as

such prices are posted for the applicable Month less the 100% load

factor Rate Schedule MN365 maximum recourse rate in effect during

such Month by (2) the applicable monthly Fuel Retainage Percentage

listed on the Statement of Fuel Retainage Percentages. In the event

that this index price is no longer available, Pipeline will file to

change its Tariff and may, at its discretion, select an appropriate

price for the interim period, subject to refund.

 

11.7 Credit. On a monthly basis Pipeline shall credit or debit, as

appropriate, the Fuel Retainage Quantity Deferred Account as provided

in Section 20.4 herein, the net proceeds from the operation of the

imbalance resolution procedures contained in this Section 11.

 

11.7A Disposition of Excess Quantities. If Pipeline desires to auction at any

time the net excess quantities purchased under Section 11.6 of the GT&C,

the net quantities available to Pipeline as a result of over-realization of

in-kind compensation pursuant to Section 20 of the GT&C, or the Quantity of

Gas retained under Sections 8.6 and 10 of Rate Schedule MNPAL, Pipeline

shall post a notice of such auction on the LINK® System at least three (3)

Business Days prior to the date on which bids will be accepted. Such

notice shall specify the quantity of gas to be auctioned, the date on which

the bids will be accepted, and the evaluation method that will be used to

determine the highest bid. Pipeline shall accept bids only during the time

period from 7:00 a.m. until 11:00 a.m. CT on the Business Day that bids are

due. Prior to 4:00 p.m. CT of the same day, Pipeline shall notify the

Customer submitting the highest bid; provided, however, Pipeline reserves

the right to reject any and all bids. When the gas is purchased at

auction, Customer must provide identification of the existing

transportation service agreement with Pipeline under which Customer shall

nominate, transport and deliver all gas. Unless otherwise specified in the

auction notice, Customer shall nominate, transport, and deliver all gas by

the end of the Month following the Month in which the gas is purchased.

Customer shall pay the applicable transportation charges for the quantity

of gas delivered. The transaction shall be subject to the imbalance

resolution procedures set forth in this Section 11 and all other applicable

terms and conditions contained in Pipeline's FERC Gas Tariff prospectively

from the date of Customer's purchase pursuant to this Section 11.7A, at the

Point(s) of Delivery. All auction proceeds shall be handled in accordance

with Section 20.