Rendezvous Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 02/08/2007, Docket: RP07- 6-000, Status: Effective

Original Sheet No. 49 Original Sheet No. 49 : Pending

(g) The Economic Value of a bid: The total net

present value of the reservation charge bid for

the release of firm capacity. The net present

value shall be computed from the monthly demand

and capacity, or reservation revenues to be

received over the term of the release contract,

using the discounted cash flow rate of return

methodology, with the rate of discounting, as

updated from time to time, to be posted on

Transporter's Designated Site.

For the capacity release business process timing

model, only the following methodologies are

required to be supported by capacity release

service providers and provided to Releasing

Shippers as choices from which they may select

and, once chosen, should 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 Shipper

defined evaluation methodologies) can be accorded

similar timeline evaluation treatment at the

discretion of the capacity release service

provider. However, Transporter is not required to

offer other choices or similar timeline treatment

for other choices, nor, is Transporter held to the

timeline should the Releasing Shipper elect

another method of evaluation.

(h) Open Season: The minimum number of Business Days

allowed for posting releases and accepting bids.

19.3 General Provisions.

(a) Any Shipper is eligible to release for use by

another party all or part of firm capacity for

which the Releasing Shipper pays a monthly

reservation charge. Capacity to be released shall

be defined as capacity between a Receipt Point and

a Delivery Point, for use by another party for a

minimum term of one (1) Day and a maximum term not

to exceed the remaining term of the Releasing

Shipper's firm Service Agreement.

(b) Any Replacement Shipper that has previously

contracted for released capacity may also release

the capacity to another party, thereby becoming a

Releasing Shipper, subject to the requirements of

this Section 19.

(c) Any Potential Replacement Shippers may submit to

Transporter by facsimile transmission, Internet

email or other mutually agreeable means of

electronic communication offer(s) to purchase

released capacity. If an offer to purchase

results in a capacity release being offered, such

release is subject to the bidding requirements of

this Section. Offers to purchase capacity must

include desired receipt and delivery point(s),

contract volume, and contract term.

(d) All release requests under Section 19.4 below and

bids for released capacity under Section 19.5

below must be submitted to Transporter by

facsimile transmission, Internet email or other

mutually agreeable means of electronic