White River Hub, LLC
Original Volume No. 1
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Effective Date: 11/01/2008, Docket: RP08-645-000, Status: Effective
Original Sheet No. 66 Original Sheet No. 66
GENERAL TERMS AND CONDITIONS
5.4 Bid Period. White River's bid period for firm capacity will begin
on the day available capacity is posted on the Customer Activities Web site
and will be administered as described below. All times listed below are
Central Clock Time.
(a) The initial bid period will be held from 9:00 a.m. on the
business day available capacity is posted on the Customer Activities Web site
until 1:00 p.m. on the eighth business day prior to the end of the month.
Shippers desiring to submit a bid for service must do so prior to 1:00 p.m. on
the eighth business day prior to the end of the month. The rate, term and
present value of each bid received during the initial bid period will be shown
on the Customer Activities Web site as received. However, the identity of the
Bidding Shipper shall be kept confidential.
(b) If no competing bids are received for the same available
capacity on White River's system at the end of the initial bid period, bidding
will close. If competing bids are received for the same available capacity,
White River will post notification of the competing bids on the Customer
Activities Web site on or before 2:00 p.m. Shippers who submitted competing
bids will have an opportunity, beginning at 2:00 p.m., to post an updated bid
that equals or exceeds the highest competing bid, as calculated according to §
5.8. If no bids are received within the first hour, bidding will close at
3:00 p.m. Otherwise, bidding will continue until there has been no bidding
activity for 30 minutes or until 4:00 p.m., whichever occurs first.
(c) Throughout the bidding periods, White River will continue
posting a list of all bids, including competing bids, on the Customer
Activities Web site as they are received or updated.
(d) Except for capacity that is subject to a right of first
refusal according to Section 7 of the General Terms and Conditions of this
tariff, capacity will be awarded no later than 11:00 a.m. on the second
business day following the bid period to the Shipper or Shippers whose bid
offers a rate and term that yields the highest present value per unit of
capacity and whose terms and conditions are acceptable to White River.
(e) Capacity sold during the bid period will be available no
sooner than the first day of the month succeeding the bid period.
(f) White River, at its discretion, may decline to award the
capacity if a satisfactory bid has not been received and will repost it in
subsequent bid periods.