Enbridge Offshore Pipelines (Utos) LLC

FIFTH REVISED VOLUME NO. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 08/01/2009, Docket: RP09-815-000, Status: Effective

First Revised Sheet No. 149 First Revised Sheet No. 149

Superseding: Original Sheet No. 149

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

contingent bids pursuant to Section 17.4. The

Replacement or Prearranged Shipper submitting the

contingent bid shall have a reasonable time, as

specified by the Releasing Shipper, within which to

eliminate the contingency or withdraw its bid. The

Replacement or Prearranged Shipper may eliminate the

contingency by notifying UTOS of such elimination via

UTOS' Interactive Internet Website no later than 3

p.m. Central Time on the Business Day prior to the

nomination deadline for the effective date of the

release. If the Replacement or Prearranged Shipper

fails to notify UTOS that the contingency is not

eliminated within such time, such contingent bid shall

be deemed rejected by UTOS for failure to eliminate

the contingency in accordance with the Releasing

Shipper's Release Proposal. Any Replacement Shipper

may make an upward revision to or withdraw its bid

during the bid period; provided, UTOS will allow any

Prearranged Shipper to match, in accordance with

Section 17.7(c), the "best bid" after the close of the

bid period; however, if the Replacement Shipper

submits more than one bid for the same capacity, the

lower bid will automatically expire. Replacement

Shipper shall not have the opportunity to use its

ability to withdraw its bid in order to submit a lower

bid, if its submitted bid is higher than necessary to

obtain the capacity.

 

(b) "Best Bid". The "best bid" shall be (1) determined in

accordance with the bid evaluation method specified by

the Releasing Shipper pursuant to Section 17.4; or (2)

in the event the Releasing Shipper elects not to

submit a bid evaluation method, the "best bid" shall

be selected from among the Qualified Bid(s) received

during the bid period, including any extension

thereof, in accordance with the following procedures:

 

(i) UTOS shall calculate the Net Present Value of

all Qualified Bids and applicable Prearranged

Transactions by applying the proposed

reservation charge to the amount of capacity

proposed to be taken for the proposed duration

of the capacity release transaction, and

discounting resultant dollar figure to present

value on the basis of the Federal Energy

Regulatory Commission interest rate described in

18 CFR ?154.501(d)(1) that is in effect on the

date that the calculation is made for all

competing Qualified bids and Prearranged

Transactions. This calculation is expressed in

the following formula: