Stingray Pipeline Company, L. L. C.

Third Revised Volume No. 1

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Effective Date: 11/01/2008, Docket: RP08-436-000, Status: Effective

Third Revised Sheet No. 162 Third Revised Sheet No. 162

Superseding: Second Revised Sheet No. 162

 

GENERAL TERMS AND CONDITIONS

 

(1) For each Month, the volume and reservation

charge per Dth stated in the Qualified Bid shall

be multiplied together to derive a gross monthly

revenue figure. If the Qualified Bids contain

volumetric-based charges permitted by the

Capacity Release Request, then the gross monthly

revenue figure shall be equal to any minimum

amount designated by the bidder to be billed as

a reservation charge even if there is no (or

insufficient) flow.

 

(2) Each gross monthly revenue figure shall be

discounted to a net present value figure as of

the first Day of the capacity release as sought

in the Capacity Release Request, using the

current Federal Energy Regulatory Commission

interest rate as defined in 18 C.F.R. Section

154.67(c)(2)(iii)(A).

 

(3) The net present value figures for the proposed

release shall be summed, and such sum shall be

the Bid Value.

 

(4) The Unit Bid Value is defined to equal the Bid

Value divided by the product of: (i) the

highest volume of capacity (in Dth) sought in

the Qualified Bid for any Day; multiplied by

(ii) the release term (in Months) in the

Capacity Release Request; and multiplied further

by (iii) thirty and four-tenths (30.4).

 

(c) The combination of Qualified Bid(s) with the highest

possible total Bid Value (Winning Bid Value) for the

capacity in the Capacity Release Request shall be the

winning Qualified Bid(s). A Qualified Bid may be

allocated less than its Maximum Bid Volume, but in no

event shall the Qualified Bid be allocated less than

its Minimum Bid Volume. It is recognized that this

procedure is intended to result in the highest

possible total Bid Value for the Releasing Shipper

consistent with the Qualified Bids, and it is possible

that a Qualified Bid with the highest individual Unit

Bid Value may be rejected partially or in its

entirety.