Steckman Ridge, LP

Original Volume No. 1

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Effective Date: 04/01/2009, Docket: RP09-389-000, Status: Effective

Original Sheet No. 231 Original Sheet No. 231

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

5. CAPACITY RELEASE (continued)

 

5.3 Posting. Following receipt of a notice of offer to release

capacity which satisfies the requirements set forth in Section

5.2, Steckman Ridge will post such information on the LINK® System

in accordance with the timeline set forth in Section 5.4 herein;

however, Steckman Ridge shall not post any minimum conditions that

Releasing Customer has elected not to disclose. Steckman Ridge

shall also post offers to purchase capacity from those who desire

current Customers to release capacity upon receipt of the

applicable information as set forth in Section 5.18 below.

 

5.4 Posting and Bidding Timeline. For the capacity release business

process timing model, only the following methodologies shall be

supported by Steckman Ridge and provided to Releasing Customers as

choices from which they may select and, once chosen, shall be used

in determining the awards from the bid(s) submitted. They are: 1)

highest rate, 2) net revenue and 3) present value. Other choices

of bid evaluation methodology (including other Releasing Customer

defined evaluation methodologies) can be accorded similar timeline

evaluation treatment at Steckman Ridge's discretion. However,

Steckman Ridge is not required to offer other choices or similar

timeline treatment for other choices. Further, Steckman Ridge

shall not be held to the timeline specified in Sections 5.4(a) and

5.4(b) below should the Releasing Shipper elect another method of

evaluation; the timeline specified in Section 5.4(c) below shall

apply. The proposed duration of Customer's release determines the

minimum bid period for Customer's offer pursuant to this Section

5.4. The Capacity Release timeline is applicable to all parties

involved in the Capacity Release process; however, it is only

applicable if (i) all information provided by the parties to the

transaction is valid and the Replacement Customer has been

determined to be creditworthy before the capacity release bid is

tendered and (ii) there are no special terms or conditions of the

release.

 

The Capacity Release timeline is as follows:

 

(a) For standard releases of one (1) year or less:

- Offers shall be tendered by 12:00 p.m. CT on a Business

Day;

- The bid period shall end at 1:00 p.m. CT on the same

Business Day or at 1:00 p.m. CT on any subsequent

Business Day as specified in Releasing Customer's offer,

whichever is elected by Releasing Customer;

- Evaluation period begins at 1:00 p.m. CT on the day the

bid period ends, during which contingency is eliminated,

determination of best bid is made, and ties are broken;

- Evaluation period ends and award is posted if no match is

required at 2:00 p.m. CT the same day;

- If the Prearranged Customer's bid is not the "best bid",

Steckman Ridge shall allow such Prearranged Customer a

Matching Period of thirty (30) minutes from 2:00 P.M. CT

until 2:30 P.M. CT on the day the Bid Period ends, or

such later time as specified in the Releasing Customer's

offer, to determine whether to match the "best bid" and

to notify Steckman Ridge of its decision;

- If a match is required, the award will be posted by 3:00

p.m. CT.