National Fuel Gas Supply Corporation

Third Revised Volume No. 1

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Effective Date: 04/01/1997, Docket: RP97-201-000, Status: Effective

First Revised Sheet No. 156 First Revised Sheet No. 156 : Superseded

Superseding: Original Sheet No. 156

 

GENERAL TERMS AND CONDITIONS

 

 

10. CAPACITY REALLOCATION (Cont'd.)

 

which do not match or exceed any minimum rate or term speci-

fied by the Existing Shipper's Notice, or are in other

respects incomplete or non-responsive to such notice. Any bid

received by Transporter offering to pay rates in excess of

Transporter's applicable maximum rates, inclusive of surcharg-

es, shall be treated by Transporter as an offer to pay rates

equal to Transporter's applicable maximum rates, inclusive of

surcharges, and no payments may be made or accepted at rates

in excess of Transporter's applicable maximum rates, inclusive

of surcharges. Where the Existing Shipper has specified that

volumetric bids or bids based upon other variants of the rates

applicable to the capacity to be released will be accepted,

any bid which has a one hundred percent (100%) load factor

derivative more than the one hundred percent (100%) load

factor derivative of the maximum rates applicable to the

capacity to be released shall be deemed to be a bid offering

to pay rates in excess of Transporter's applicable maximum

rates. Potential Shippers may revise their bids during the

posting period. Potential Shippers may not submit multiple

bids for the same package of capacity. A Prearranged Shipper

may match the "best bid" received by Transporter during the

posting period between 2:00 p.m. and 3:00 p.m. central clock

time on the last day of the posting period.

 

(c) Bids are binding until written or electronic notice of

withdrawal is received by Transporter. Bids cannot be with-

drawn after the bid period ends. Following the withdrawal of

a bid, a Potential Shipper may not submit a bid lower than the

bid withdrawn during the remainder of the posting period. For

this purpose, bids will be determined to be "higher" or

"lower" than the withdrawn bid by application of the standard

applicable to the determination of best bid, as set forth in

Section 10.5.