National Fuel Gas Supply Corporation

Third Revised Volume No. 1

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Effective Date: 08/01/1993, Docket: RS92- 21-004, Status: Effective

Sub. Original Sheet No. 201 Sub. Original Sheet No. 201 : Superseded

 

 

 

GENERAL TERMS AND CONDITIONS

 

14. ALLOCATION AND IMBALANCES (Cont'd.)

 

 

received are less than the costs incurred, then

Transporter shall carry forward the net underrecoveries

to the subsequent Annual Billing Period and may offset

such net underrecoveries against any future net

overrecoveries that may occur in a subsequent Annual

Billing Period.

 

(d) If Transporter desires to auction any gas purchased

under Sections 14.9(c) or 14.10(b) of the General Terms

and Conditions, any gas retained because it was not

withdrawn pursuant to Section 2.5 of Rate Schedule ISS,

any gas retained under Section 15.2 of the General Terms

and Conditions, or any gas retained by Transporter as a

result of the termination of any storage or

transporation service agreement, Transporter shall post

such quantities, with a minimum acceptable price, on

Transporter's Electronic Bulletin Board on the fifteenth

day of the month or the next business day thereafter.

Transporter shall accept bids for any portion of the

posted quantity, at a price no lower than the posted

minimum acceptable prices only during the time period

from 8:00 a.m. until 12:00 p.m. ET on the second

business day following the posting. Prior to 5:00 p.m.

ET of the same day, Transporter shall notify the bidders

who, in the aggregate, submitted bids which yield the

greatest total price for the total quantity bid upon;

provided, however, Transporter reserves the right to

reject all bids. When the gas is purchased at auction,

the buyer must provide identification of the existing

transportation service agreement with Transporter under

which the Buyer shall nominate, transport and deliver

all gas by the end of the month following the month in

which the gas is purchased. The buyer further agrees

that the gas is subject to Section 14, prospectively

from the date of the buyer's purchase pursuant to this

Section 14.10(d). All auction proceeds shall be handled

in accordance with Section 14.10(c) hereof.